2025年泡泡玛特研究报告:打造新一代IP增长引擎(附下载)

报告研究所
Jun 06, 2025

我们预计公司 2025/26/27 年营收和净利润将分别达人民币 252/370/526 亿元人民币和 69/100/146 亿元人民币,均高于市场预期我们预测泡泡玛特2025/26/27年营收将分别同比增长93%/47%/42%。这一增长主要由海外市场营收的强劲增长所驱 动,预计分别为181%/71%/58%;同期中国市场营收增速则为37%/15%/11%。从收入结构来看,我们预计海外市场 将...

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