Citigroup: POP MART may continue to benefit from intellectual property incubation and operations, maintaining a buy rating on the stock and raising the target price

Citigroup's report states that POP MART is expected to continue benefiting from its IP incubation and operations. The long-standing debate regarding the popularity sustainability of "Labubu" should be answered by the company's consistently strong performance in new product launches. With the mini "Labubu" making its debut this week, Citigroup anticipates that this will further stimulate the IP's popularity globally. In the long term, Citigroup expects that the commercial value of "Labubu" will have the opportunity to extend into a wide range of areas beyond trendy toys. Citigroup maintains a buy rating and raises the target price for the stock from HKD 384.50 to HKD 398.00