海通国际:升泡泡玛特目标价至198.1港元 维持“跑赢大市”评级

智通财经
25 Apr

该行认为基于泡泡玛特的品牌效应、高毛利率以及部分供应链外移,关税影响相较其他消费品牌影响更可控。海通国际发布研报称,泡泡玛特(09992)于4月22日发布首季业绩预告,收入同比增长165%至170%,表现远超预期。参考公司首季业绩预告,海通国际预计2025至2027年收入分别达242亿、335亿及423亿元人民币,同比各增长86%、38%与26%;经调净利各为70.1亿、99.1亿及128.3亿元...

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