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High materiality8/10

Here Group Challenges Labubu With Wakuku

Dec 12, 2025, 8:21 AM EST1 sourcesAI-analyzed

Why it may matterVerify against the original reporting

The substantial revenue growth and low P/S ratio indicate strong value potential. Similar historical firms showed stock jumps after transformative revenue shifts.

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What happened, with direct paths to the underlying reporting

HERE Group's revenue nearly doubled sequentially in its latest quarter. The company operates under a new name, focusing on pop toys. HERE's P/S ratio is 2.5, significantly lower than Pop Mart's 10.3. 97% of HERE's revenue comes from its proprietary IPs, mainly Wakuku. Growth expectations remain strong, forecasting 750-800 million yuan for the fiscal year.

HERE Group's revenue nearly doubled sequentially in its latest quarter.
The company operates under a new name, focusing on pop toys.
HERE's P/S ratio is 2.5, significantly lower than Pop Mart's 10.3.
97% of HERE's revenue comes from its proprietary IPs, mainly Wakuku.
Growth expectations remain strong, forecasting 750-800 million yuan for the fiscal year.

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