Pop-toy maker Here Group Q4 revenue rises 94% on strong new IP sales

Here

22/09/2026 10:13

Overview
China pop toy maker's fiscal Q4 revenue rose 94% yr/yr but fell 22% sequentially
Company reported wider net loss, including goodwill impairment amid lower-than-expected performance
Here Group launched $20 mln share buyback, repurchased $0.7 mln in Q4; board member resigned

Outlook
Company says market environment remains challenging and expects to optimize cost structure
Here Group aims to improve operating efficiency and strengthen IP and product capabilities
Company expects efforts to support sustainable growth and long-term shareholder value

Result Drivers
LOWER CHANNEL SALES - Co said sequential revenue decline was mainly due to lower channel sales amid challenging market conditions
NEW IP LAUNCHES - Year-over-year revenue growth was driven by higher sales across existing and newly launched IP product lines
GOODWILL IMPAIRMENT - Co recorded goodwill impairment reflecting lower-than-anticipated performance amid macroeconomic headwinds

Company press release: ID:nGNX2kjTMm

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
 
RMB 127.70 mln
 
Q4 Net Loss
 
RMB 169.63 mln
 
Q4 Gross Profit
 
RMB 32.98 mln
 
Q4 Operating Expenses
 
-RMB 216.07 mln
 

Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the toys & children's products peer group is "buy."
Wall Street's median 12-month price target for Here Group Ltd is $5.50, about 197.3% above its September 21 closing price of $1.85
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 12 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)