CICC: Maintain outperform rating on Pop Mart International Ltd (09992.HK) with a target price of HK$370.

According to the Wisdom Finance APP, Zhongjin released a research report stating that it maintains Bubble Mart's (09992.HK) adjusted net profit forecast for 2025/2026 at 11 billion/14.1 billion yuan, corresponding to a adjusted PE ratio of 35/27 times for 2025/2026. It maintains an outperform industry rating and a target price of 370 Hong Kong dollars, corresponding to a adjusted PE ratio of 42/32 times for 2025/2026, with a 20% upside potential.