In a filing to the Hong Kong stock exchange on Tuesday, the Beijing-based company said that it expected net profit for the first half to rise by at least 350 per cent from a year ago and revenue to increase by more than 200 per cent.
The company attributed its first-half growth to “the increased global recognition of the Pop Mart brand and its [intellectual properties], and diversified product categories”, noting that revenue from all regional markets rose “rapidly and continuously”.
Nomura on Wednesday lifted Pop Mart’s share-price estimate by 13 per cent to HK$330 from HK$291. The Japanese investment bank said in a report that the management would offer a positive business outlook in the interim earnings call and that the stock was its favourite consumer name.
Meanwhile, US investment bank Jefferies raised the target price by 55 per cent to HK$315.20 from HK$203 to reflect the stronger-than-expected first-half profit and maintained a buy rating on the stock.