---
title: "Haitong Intl Chops POP MART TP to HKD134.5, Lowers Revenue and Net Profit Forecasts"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/303675515.md"
description: "Haitong International lowered its target price for POP MART by 18.7% to HKD134.5 and downgraded revenue and net profit forecasts for 2026-28 due to pressure on domestic and overseas sales since Q3 2026. The broker maintained a Neutral rating, citing a high prior-year base and reduced overseas online traffic as key factors impacting performance."
datetime: "2026-10-30T04:28:42.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/303675515.md)
  - [en](https://longbridge.com/en/news/303675515.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/303675515.md)
generator: "portal-rs"
---

# Haitong Intl Chops POP MART TP to HKD134.5, Lowers Revenue and Net Profit Forecasts

Haitong International issued a report on POP MART (09992.HK) +5.300 (+4.118%) Short selling $415.89M; Ratio 36.687% , of which overall operating performance in 3Q26 aligned with forecasts. Overall revenue faded 45-50% YoY, owing to the high sales base in the same period last year and a pullback in overseas online traffic. The broker maintained a Neutral rating and chopped the TP by 18.7% to HKD134.5.

As domestic and overseas revenue has come under pressure since 3Q26, the broker expected the company's revenue for 2026-28 to reach RMB32.43 billion, RMB37.09 billion and RMB42.72 billion, respectively, representing downward revisions of 9.1%, 9.2% and 9.4% from previous forecasts. Net profit attributable to shareholders was estimated at RMB8.72 billion, RMB10.96 billion and RMB12.88 billion, respectively, representing downward revisions of 9.4%, 8.1% and 7.3% from previous forecasts. The corresponding YoY changes are decreases of 31.7%, increases of 25.7% and increases of 17.5%, respectively.  
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-10-29 16:25.)

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**