里昂:维持泡泡玛特(09992.HK)跑赢大市评级 目标价升至368港元

智通财经
Aug 26, 2025
【里昂:维持泡泡玛特(09992.HK)跑赢大市评级 目标价升至368港元】智通财经APP获悉,里昂发布研报称,泡泡玛特(09992.HK)全球布局的发展动能持续向好,近日在新加坡举行的海外国际潮流玩具展显示出,泡泡玛特在全球需求仍然强劲,加上供应链持续改善可支持增长,目前预测公司2025年销售额可同比增长172%至354亿元人民币,中国及海外销售预料各占50%,预测毛利率及核心经营利润率将提升至71.4%及44.6%。里昂将泡泡玛特2025至2027年销售额及经调整净利润预测分别上调14%、12%、12%及23%、20%、20%,目标价由318港元升至368港元,维持“跑赢大市”评级。

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