招商证券：维持泡泡玛特(09992)“强烈推荐”评级海外本地化运营持续推进

智通财经2025-12-24

智通财经APP获悉，招商证券发布研报称，维持泡泡玛特(09992)“强烈推荐”评级，海外组织架构促进海外健康持续增长，“精灵天团”LABUBU/星星人等IP产品势能良好，考虑到公司全球化IP运营能力突出、公司产能灵活调度高，该行认为公司潮流风险可控，持续看好公司未来发展。招商证券主要观点如下：三方跟踪的高频数据边际增长趋势泡泡玛特市场前期主要交易的高频数据包括千岛二手价格、app下载量及搜索指数、...

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招商证券：维持泡泡玛特(09992)“强烈推荐”评级 海外本地化运营持续推进

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招商证券：维持泡泡玛特(09992)“强烈推荐”评级海外本地化运营持续推进