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<Research>BOCI Expects POP MART Shr Buyback to Restore Mkt Confidence; Labubu Key Pillar Still
Recommend 8 Positive 24 Negative 15 |
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BOCI's research report said that the stock price of POP MART (09992.HK) has been under pressure since the end of 2025 due to market concerns over the waning popularity of Labubu and slackening growth. However, the broker believed that most concerns are overdone, and the company's share buyback initiated on January 19, 2026 should be able to restore market confidence. Moreover, POP MART's report disclosed that it had repurchased 500,000 shares on the Hong Kong Stock Exchange yesterday, with prices ranging from HKD191.1 to HKD194.9 per share, involving a total amount of approximately HKD96.49 million. BOCI expected that Labubu will remain a key pillar in sales this year with the launch of new products, and other IPs will perform better as overseas consumers become more familiar with them. Therefore, the broker still believed that POP MART will maintain strong momentum in overseas expansion and expected strong YoY growth in revenue and net profit of 32.8% and 37.6% respectively this year. The target price was lowered from HKD405.6 to HKD291.9, but the Buy rating was reaffirmed. AASTOCKS Financial News Website: www.aastocks.com |
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