CITIC International: POP MART's profit growth prospects are positive, initiating an "Outperform" rating

Jianyin International released a research report stating that it has given POP MART an "Outperform" rating for the first time, with a target price of HKD 256, corresponding to a forecasted price-to-earnings ratio of about 50 times for the next 12 months. The report predicts a positive outlook for the company's future earnings growth, with a compound annual growth rate of 38% and 44% for revenue and profit from 2025 to 2027, respectively. The bank pointed out that POP MART's new products can sustainably drive growth, along with ongoing global market expansion. It is estimated that more than 35 stores and 20 unmanned stores have been opened since the beginning of the year, and it believes that the goal of opening 100 overseas stores this year can be achieved. Currently, it forecasts that revenue and profit for the fiscal year 2025 will increase by 66% and 82%, respectively