花旗发表报告，指中国的IP商品市场具有巨大的增长潜力，因为其人均消费支出与发达市场相比仍然较低。授权业务深度连接所有消费领域，为实现IP的商业价值提供广泛机会，而IP商品是其中的主要途径。
该行看到，高品质IP供应、产品创新和供应链能力将推动IP消费的上行潜力。泡泡玛特(09992.HK) 和名创优品(09896.HK) 是这一领域的两个突出参与者，它们以各自的方式应对行业的快速增长并争夺市场份额。该行重申对泡泡玛特的“买入”评级，目标价120元，因其具备孵育成功专有/独家IP的能力。该行亦维持对名创优品的“买入”评级，H股目标价47.5元，因其IP商品销售贡献上升带来的利润率扩张潜力。(ad/da)(港股报价延迟最少十五分钟。沽空资料截至 2025-03-04 16:25。)
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