Here Group Ltd ADR Dossier
Outlook & Key Dates
Estimates, guidance, catalysts, and upcoming events
Analyst Estimates Learn more →
Analyst Coverage
3analysts covering
Monitoring Framework
Key Performance Indicators
WAKUKU IP Revenue Contribution Quarterly102.4MTarget: Maintain flagship status driving >60% of total pop toy revenues
SIINONO IP Revenue Contribution Quarterly33.3MTarget: Scale newly incubated IPs to diversify revenue base
ZIYULI IP Revenue Contribution Quarterly14.3MTarget: Expand product lines to sustain double-digit sequential growth
Gross Profit Margin Quarterly3,450.0%Target: Optimize unit economics and cost structures to exceed 35%
Watch Items
- Flagship IP Concentration Risk (WAKUKU)Trigger: WAKUKU revenue contribution exceeding 70% of total sales or falling below RMB 90 millionAction: Accelerate product launches and marketing campaigns for secondary IPs like SIINONO and ZIYULI to balance the portfolio.
- Offline Channel Expansion Margin PressureTrigger: Gross margin dropping below 30% due to direct-to-consumer (D2C) store and roboshop deployment costsAction: Re-evaluate the rollout pace of physical retail touchpoints and optimize supply chain and delivery capabilities.
Research as of 20 Jun 2026