According to results released Oct 21, Pop Mart’s sales in overseas markets surged as much as 370% y-o-y, with the Americas and Europe continuing to serve as key growth engines. Meanwhile, domestic revenue in China also surged around 190%, supported by strong online channel sales.
Morningstar Equity Research analyst Jeff Zhang has raised his fair value estimate on Hong Kong-listed Pop Mart International to HK$280 ($46.81) from HK$240, reflecting stronger long-term revenue assumptions following the release of its results for 3QFY2025 ended Sept 30.
Pop Mart saw revenue surge by nearly 250% y-o-y during the quarter, mainly driven by 370% overseas topline expansion, writes Zhang in an Oct 22 note.
