Added to YB: 2026-10-14
Pitch date: 2026-10-11
9992.HK [bullish]
Pop Mart International Group Limited
-4.21%
current return
Author Info
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Company Info
Pop Mart International Group Limited, an investment holding company, designs, develops, and sells pop toys in the People’s Republic of China, Hong Kong, Macau, Taiwan, and internationally.
Market Cap
HKD 170.7B
Pitch Price
HKD 151.90
Price Target
175.00 (+20%)
Dividend
1.83%
EV/EBITDA
8.01
P/E
13.07
EV/Sales
3.97
Sector
Specialty Retail
Category
growth
Pop Mart Has Six Billion-Yuan IPs. The Question Is Whether It Can Keep Creating the Next One
9992.HK (monitor): Pop Mart’s investment case rests not on Labubu but on a potentially repeatable IP-development engine: six IPs generated over RMB1 billion each in first-half 2026, while THE MONSTERS fell to 26% of revenue. The capability remains unproven across a full cycle, with inventory near RMB6 billion and turnover approaching 200 days. The first reasonable-buy range is HK$150-175, where approximately 8-10% annual returns are plausible without major multiple expansion.
Read full article (4 min)