泡泡玛特(09992)半年报业绩点评：业绩超预期，全球化、多品类战略顺利推进

国泰君安08-22 16:17

本报告导读：公司24H1收入与利润均超预期，IP矩阵形成三超多强格局，构成业绩增长底层驱动力，新方向上，全球化布局迎来收获期，毛绒玩具等新品类实现爆发式增长。投资要点：24H1收入与利润均超预期，维持“增持”评级。鉴于公司顺利推进全球化、多品类战略，新老IP均展现较强生命力，我们上调2024-2026年归母净利润至18.42/24.83/30.34亿元(前值为14.33/18.52/23.46...

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