52TOYS港股IPO:成长性不如泡泡玛特,行业老三的想象空间在哪里?

公司研究室
May 29, 2025

出品|公司研究室IPO组文|coco摘要:港股新消费或再扩容。今年以来,Labubu的全球爆火继续推高泡泡玛特的市值,布鲁可在港交所上市更是给IP经营类公司“添了一把火”。近日,北京乐自天成文化发展股份有限公司(以下简称“52TOYS”)递表港交所。招股书披露,在中国IP玩具公司里,52TOYS去年的GMV排名第三,居于泡泡玛特、布鲁可之后。根据招股书,行业第三的52TOY在收入基数和增速方面,均...

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