《大行》华泰证券升泡泡玛特(09992.HK)目标价至300元 维持“买入”评级

阿斯达克财经
Jun 09, 2025

华泰证券发表研究报告指出,面对Labubu等IP热度飙升,泡泡玛特(09992.HK) 明确坚持IP长期营运的策略思路,严格把控推新、联名及产品放量节奏,避免对IP价值的消耗。该行认为,泡泡玛特优势在于IP设计、品类载体与行销活动的多重创新与联动,而非依赖单一要素,进而支撑经典IP的可持续营运。该行预计,泡泡玛特在今年暑期《The Monsters》动画短片有望上线,并看好管理层掌控IP营运节奏、...

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