摩根大通发表研究报告指,泡泡玛特(09992.HK) 第三季至今门店扩建及升级速度较预期快,继续以改善消费者体验及实现更可持续增长的前提。摩通提醒,门店规模扩张的同时亦带来风险,若产品动能未能跟上,店铺较长租约、较高租金及更多前置开支,可能会令明年利润率受压。该行指出,年初至今KeyA等新IP及Labubu 4.0表现未如理想,销量的支持主要仍来自现有IP,预测第三季收入将按年跌约37%,第四季...
Source Link摩根大通发表研究报告指,泡泡玛特(09992.HK) 第三季至今门店扩建及升级速度较预期快,继续以改善消费者体验及实现更可持续增长的前提。摩通提醒,门店规模扩张的同时亦带来风险,若产品动能未能跟上,店铺较长租约、较高租金及更多前置开支,可能会令明年利润率受压。该行指出,年初至今KeyA等新IP及Labubu 4.0表现未如理想,销量的支持主要仍来自现有IP,预测第三季收入将按年跌约37%,第四季...
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