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泡泡玛特业绩出炉 段永平发声_我的网站

一 |     　　在泡泡玛特披露上半年业绩后，重仓买入泡泡玛特的段永平频频发声。面对网友的质疑，段永平直言：“我不关心大众预期，只关心公司未来会怎么样，不然我凭什么赚钱？”　　段永平生气了　　8月20日，泡泡玛特发布2026年半年报。从业绩表现看，上半年实现营收171.73亿元，同比增长23.8%；实现归母净利润50.38亿元，同比增长10.1%。　　有网友问段永平如何看泡泡玛特的半年报，段永平回复称“作为股东，我其实觉得蛮好的”。 　　从市场表现看，8月21日，泡泡玛特低开逾8%，截至收盘依然下跌超3%。    DETROIT -- United Auto Workers union President Shawn Fain is expected to update members Friday afternoon on progress in contract talks with Detroit's three automakers as movement was reported with General Motors.Fain is scheduled to do a live video appearance, where he could call on more workers to walk off their jobs, joining the 34,000 already on strike at six vehicle assembly plants and 38 parts distribution warehouses. The union's strikes at targeted plants at each company began on Sept. 15 and are nearing the start of their sixth week.A person briefed on the talks says the union is exchanging offers with GM and will meet again Friday with the company. The person didn't want to be identified because they’re not authorized to speak on the record about the bargaining. There also were meetings on Thursday with Jeep maker Stellantis.On Thursday, GM posted a video indicating that bargainers are still some distance apart. Gerald Johnson, the company's global head of manufacturing, said GM has offered a total wage and benefit package that averages $150,000 per worker. It includes a 20% pay increase over four years and a company contribution of 8% per year in 401(k) accounts, cost-of-living increases, and it brings most workers to a top wage of $39.24 per hour by September of 2027, the company said.GM already has agreed to pull new electric vehicle battery plants into the national UAW contract, essentially making them unionized, a key point for Fain and the union. The UAW is seeking 36% wages, restoration of defined benefit pensions that workers gave up in the Great Recession, pension increases for retirees, an end to varying tiers of wages for workers and other items.“You might might be asking yourselves why can't General Motors meet every demand Shawn Fain is asking for?” Johnson said on the video. “Simple answer is we need profits to invest in our future.”He goes on to say that during the past decade, GM had net income of $65 billion but invested $77 billion in the business. “If we don't have those profits to continue our investments in our plants, our people and our products, we will be facing declining market share, an inability to fund the EV transition, and an inability to compete with a growing number of competitors right here in America,” Johnson said.Ford and Stellantis have made similar comments, with Ford saying it has reached the limit on how much it can spend to settle the strike. The union, however, says labor expenses are only about 5% of a vehicle's costs, and the companies can divert money from profits and stock buybacks to pay for raises that cover inflation and make up for years of contracts without significant increases. The strikes started with one assembly plant from each company after contracts expired at 11:59 p.m. Sept. 14. The union later added the parts warehouses, then one assembly plant each from Ford and GM.Last week the union made a surprise move, escalating the strikes by adding a huge Ford pickup truck and SUV plant in Louisville, Kentucky. But Fain told workers Friday that the union added the Kentucky plant after Ford presented an economic offer with no more money than a proposal from two weeks ago.About 23% of the union's 146,000 members employed by the three automakers are on strike.Stellantis said Friday that it canceled displays and presentations at the upcoming Specialty Equipment Market Association show and the Los Angeles Auto Show as strike costs continue to grow. Earlier this week the company pulled out of the CES gadget show in January.。　　段永平过去几个月来大手笔买入泡泡玛特，有网友问段永平：“大道在过去的几个月可能把腾讯陆续卖了换成泡泡玛特了。”段永平回应道：“那么小看大道？” 　　根据美股机构投资者13F持仓披露情况，截至2026年二季度末，段永平管理的H&H International Investment持仓总市值约191.01亿美元，折合人民币约1300亿元。

二 | 　　面对网友的提问和质疑，段永平也积极回复。他表示，自己基本不看财报，每个公司都不是线性增长的，泡泡玛特规模还不够大，所以比较容易看出来而已。“英伟达也不是线性增长的，苹果也不是。绝大部分公司都很难有10年以上线性增长的经历。我在小霸王的时候，我们每年100%+增长，但到第七年也断了。”　　有网友向段永平提问：“泡泡玛特中报业绩增长不及大众预期。

三 | 主要原因是美洲、亚太、欧洲线上销售拉胯（同比减半），拖累整体业绩。

四 | 想知道您是怎么想的？”段永平回复说：“我不关心大众预期，只关心公司未来会怎么样，不然我凭什么赚钱？”　　有网友调侃段永平：“老年的段：投资泡泡玛特是我这一生犯的最大的错，我以为泡泡玛特有极强的护城河。忘记了它其实就是一个该死的卖布娃娃的零售商。

五 | ”段永平回怼：“该吃药了吧？” 　　“积极股东”忙巡店　　从段永平的持仓来看，截至8月6日，他对泡泡玛特的持股从7月30日的7393万股，增至1.02576亿股。　　作为泡泡玛特除创始人以外的最大股东，段永平对公司的关注度很高。　　有网友晒出段永平和泡泡玛特创始人王宁的合影，他回复说：“今天忙着巡店喝酒聊天，没顾上看股市。

六 | ” 　　段永平表示：“这次巡店我发现虽然门店生意极好，但似乎还是有改善用户体验的空间的。

七 | 各地尤其是海外球友粉丝们逛店的时候有啥发现可以尽量简单明了地说说哈，希望能帮助公司更快地发现问题。

八 | ”　　有网友向段永平提问，茅台和泡泡玛特联名可以擦出火花吗。段永平态度坚决：“非常不合适。

九 | ”亦有网友提问拼多多和泡泡玛特合适吗，段永平同样不认同：“感觉也不合适，你们这是炒股导向吗？”　　公募持仓减少　　相比段永平对泡泡玛特的乐观态度。二季度，公募基金对泡泡玛特的持仓明显减少。　　Choice数据显示，截至二季度末，86只基金重仓持有泡泡玛特，持股数量合计为2114.68万股。对比之下，截至一季度末，110只基金重仓持有泡泡玛特，持股数量为3324.82万股。 　　从机构观点看，中金公司表示，泡泡玛特库存积压自7月起已有优化，乐园与甜品店表现均超预期，以IP为核心的多元业态生态渐次成形。此外，公司拟于未来6个月推出20亿元—50亿元的人民币回购计划，彰显长期发展信心。

十 | 星星人的快速接力印证公司已建设体系化的IP孵化与运营能力，叠加乐园、内容、多元业态的持续培育，公司正沿全球一流IP集团的成长路径演进，长期价值有望穿越单一IP热度周期持续兑现。

十一 | 　　高盛证券表示，考虑到需求疲软、库存水平高企，市场将出现负面反应。销售不及预期意味着二季度销售额环比下滑，从三季度开始基数压力进一步抬升，泡泡玛特业绩将面临进一步下行压力。尽管认可管理层在成本、费用控制以及持续开发新IP、新产品、新概念方面所做的努力，但短期销售存在不确定性，且公司仍处于投资阶段（尤其是门店网络扩张），可能会导致盈利波动进一步加大。基于此，高盛将泡泡玛特12个月目标价调整为139.50港元。（文章来源：上海证券报）。

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Published on:21:11:23