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CICC Spots Growth Potential in CN Trendy Toys + IP Industry, Recommends POP MART/ MNSO
2026-03-13 11:11:55
China's trendy toy industry is blossoming, with the "self-pleasing economy" being unstoppable, and the industry as a whole is entering a period of dimensional upgrade, CICC said in a research report.

Whether it is MNSO (09896.HK)'s IP incubation and park layout, or the OBM transformation of Dongguan's trendy toy industry chain, they resonate with the demand side paying for self-satisfaction, CICC said. China's trendy toy industry is ushering in a new era from manufacturing-based to content dimensional upgrade.

The broker expressed optimism about the growth potential of China's trendy toys + IP industry, recommending POP MART (09992.HK), MNSO, CHINA LIT (00772.HK), and DAMAI ENT (01060.HK).

CICC's investment ratings and target prices for related Hong Kong stocks are listed as follows:

Stock | Investment Rating | Target Price (HKD)
MNSO (09896.HK) | Outperform | 50.18
POP MART (09992.HK) | Outperform | 370
DAMAI ENT (01060.HK) | Outperform | 1.15
CHINA LIT (00772.HK) | Outperform | 43.5
BLOKS (00325.HK) | Outperform | 100
TME-SW (01698.HK) | Outperform | 100
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