Bubble Mart's overall revenue in the first quarter increased by 40%-45% year-on-year
Bubble Mart (09992) rose 5.53% in early trading to HK$35.30, a record high since July 2022.
Yesterday, Bubble Mart revealed the latest business situation for the first quarter of 2024. The announcement showed that Bubble Mart's overall revenue for the first quarter of 2024 increased by 40%-45% year on year. Among them, revenue from mainland China increased 20% to 25% year on year, and revenue from Hong Kong, Macao, Taiwan and overseas increased 245%-250% year on year. Driven by a recovery in consumption and overseas expansion, Bubble Mart achieved an overall increase in performance.
According to a research report released by CICC today, Bubble Mart's Q1 performance all exceeded CICC and market expectations. The company's domestic business shows experiential consumer resilience and store optimization capabilities. Overseas markets have shown strong store efficiency in emerging markets such as Southeast Asia and North America, driving continued high growth in overseas expansion.