HK Stock Market Move | POP MART (09992) rose more than 4%, with stock price reaching a record high. Sales of the co-branded "Nezha 2" figurines are hot.

POP MART (09992) rose more than 4%, reaching a high of 107 Hong Kong dollars, a new high since its listing. As of the time of writing, it rose 4.4% to 106.8 Hong Kong dollars, with a trading volume of 2.1 billion Hong Kong dollars. On the news front, with the popular release of the movie "Ne Zha: The Devil Child Comes to Sea", sales of Ne Zha's peripheral products are booming. It is reported that POP MART released the "Ne Zha: The Devil Child Comes to Sea" blind box series on its official flagship store on Tmall on January 30th, with over 20,000 online searches per day and sales exceeding tens of millions in just 8 days. The official authorized card game flagship stores, Game Card Official Flagship Store and Card Collection Society Flagship Store, sold over 700,000 cards in a week, with total sales exceeding one million. A Morgan Stanley research report pointed out that the "Ne Zha 2" series not only brings good revenue contribution to POP MART, but also showcases the company's influence in the IP business. Morgan Stanley predicts that POP MART will continue its strong profit upgrade cycle this year, and therefore remains the industry's top pick. The bank has set a target price of 113 Hong Kong dollars and a "hold" rating. Morgan Stanley expects POP MART to become one of the preferred partners for major global IP owners, monetizing IP through IP toys and expanding IP visibility.