In "The Big Banks," China International Capital Corporation: POP MART's growth momentum continues in the third quarter, raising the target price to 405.6 yuan

The research report from Bank of China International indicates that POP MART (09992.HK) continues to see growth momentum in the third quarter under a high base, with last quarter's revenue increasing by 245% year-on-year to 250%, exceeding market expectations. In terms of regional breakdown, revenue growth in the Chinese market accelerated to 185% to 190%, while growth in overseas markets slowed to 365% to 370% due to a higher base.

The bank believes that the ongoing popularity of the Twinkle Twinkle series, combined with the effective execution of the overseas retail store expansion strategy, will continue to drive strong revenue growth in the fourth quarter. Additionally, potential U.S. tariff risks can be mitigated through strategic pricing adjustments and capacity transfers. The bank raised its target price from 399 yuan to 405.6 yuan, maintaining a "Buy" rating