Haitong Intl Chops POP MART TP to HKD134.5, Lowers Revenue and Net Profit Forecasts
I'm LongbridgeAI. Here is the key information I extractedHaitong International issued a report on POP MART (09992.HK) +5.300 (+4.118%) Short selling $415.89M; Ratio 36.687% , of which overall operating performance in 3Q26 aligned with forecasts. Overall revenue faded 45-50% YoY, owing to the high sales base in the same period last year and a pullback in overseas online traffic. The broker maintained a Neutral rating and chopped the TP by 18.7% to HKD134.5.
As domestic and overseas revenue has come under pressure since 3Q26, the broker expected the company's revenue for 2026-28 to reach RMB32.43 billion, RMB37.09 billion and RMB42.72 billion, respectively, representing downward revisions of 9.1%, 9.2% and 9.4% from previous forecasts. Net profit attributable to shareholders was estimated at RMB8.72 billion, RMB10.96 billion and RMB12.88 billion, respectively, representing downward revisions of 9.4%, 8.1% and 7.3% from previous forecasts. The corresponding YoY changes are decreases of 31.7%, increases of 25.7% and increases of 17.5%, respectively.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-10-29 16:25.)