泡泡玛特②：海外门店增至221家，利润为什么反而下滑39%？｜EP45

from 投研随身听 · host 慢研播客

到了2026年上半年，泡泡玛特海外收入接近50亿元，门店从128家增加到221家，分部利润却下降38.8%。本期从2025年需求绕过自营体系、流向第三方线上渠道的商业反转讲起，比较中国与海外截然相反的门店效率，并解释为什么海外单店收入更高、占用非流动资产却约为中国的3.2倍。海外已经证明消费者愿意为IP和商品付钱，尚未证明的是自营渠道经济性。信息截止：2026-08-26。本节目不构成投资建议。

Episode metadata supplied by the publisher feed · Published Aug 26, 2026

Embed this episode

Attribution link and audio player

Ready to play

泡泡玛特②：海外门店增至221家，利润为什么反而下滑39%？｜EP45

0:00 7:06

1×

No transcript for this episode yet

We transcribe on demand. Request one and we'll notify you when it's ready — usually under 10 minutes.

Share this episode

Similar Episodes

No similar episodes found.

Similar Podcasts

Crypto Education Cypher Funk Elevate your crypto game with the University's Audio Channel! Enjoy free education that uncovers the secrets of blockchain and investment strategies. Perfect for all levels – unlock your potential in the crypto world now!__00___¡Eleva tu juego cripto con el Canal de Audio de la Universidad! Disfruta de educación gratuita que revela los secretos de la cadena de bloques y las estrategias de inversión. Perfecto para todos los niveles – ¡desbloquea tu potencial en el mundo cripto ahora!__00___提升你的加密游戏，加入大学音频频道！享受免费教育，揭示区块链的秘密和投资策略。适合所有水平的人士——现在就在加密世界中释放你的潜力吧！

Frequently Asked Questions

How long is this episode of 投研随身听?

This episode is 7 minutes long.

When was this 投研随身听 episode published?

This episode was published on August 26, 2026.

Can I download this 投研随身听 episode?

Yes. Use the download control on the episode player to save the publisher-provided media file.

URL copied to clipboard!