UBS says that Pop Mart (09992.HK)'s third-quarter sales growth far exceeded expectations and the bank remains optimistic about the company’s growth potential in expanding its popular intellectual property (IP) product categories, such as building blocks and plush toys.
The bank notes key future catalysts, including strong overseas business performance in the fourth quarter, which is traditionally a peak season, new product categories and businesses (like game cards, building blocks, and accessories), new IPs, and stimulus policies.
Pop Mart is expected to open 22 new stores in overseas markets in the third . . .
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