Here Group Limited (HERE)
NASDAQ (NMS) NASDAQ (NMS) Primary 
XFRA Summary
Here Group: Why Xiao Ao Could Outperform Other IP Releases
Here Group is reiterated as a 'Buy' with a price target of $6.20, reflecting upside from new IP launches like Xiao Ao. Xiao Ao, leveraging celebrity Wang Yibo's influence, is expected to materially outperform SIINONO and drive significant revenue growth into FY 2027. Wall St. targets $7.80 per share (~120% upside), but I remain less aggressive due to Wakuku concentration risk and execution uncertainties.
Here Group: Early In The IP Curve, With Enlight JV As A Wildcard
Here Group remains a Buy at current depressed multiples, despite market impatience over margin compression and slower near-term growth. Gross margin slipped ~1,000 bps and HERE's Q3 FY26 guidance implies a 15% revenue drop, raising concerns about growth quality and operational leverage. Wakuku drives ~73% of sales; its brand-building, content pipeline, and the Enlight Media joint venture are critical forward catalysts.
Here Group Limited: Mixed View Of Quarterly Performance
I rate Here Group Limited as a 'Hold,' after evaluating its 2Q FY2026 numbers. The firm posted a solid 39% QoQ revenue growth in the recent quarter, as its key "Wakuku" IP performed well. But the company's gross margin fell 10 ppts QoQ to 31%, and further physical retail expansion may be a drag on profitability.
Here Group Limited Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
 Hui Fai Tam Caitong International Asset Management Co. Ltd. | 1 | $3.54 | $1.89 | -$1.65 | -46.61% |
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Here Group Limited Profile
| Software Industry | Information Technology Sector | Peng Li CEO | NASDAQ (NMS) Exchange | 74767N107 CUSIP |
| CN Country | 714 Employees | 30 Oct 2024 Last Dividend | - Last Split | - IPO Date |
Overview
Here Group Limited is a dynamic company specializing in the design and sale of pop toys within the rapidly growing market of China. The organization is recognized for its innovative approach to creating collectible pop toys that appeal to enthusiasts and collectors alike. Operating under the HERE brand, the company features a diverse range of products including plush toys and figures. Established in 2019, Here Group Limited has its headquarters in Beijing, the capital city of the People's Republic of China. Originally known as QuantaSing Group Limited, the company rebranded to Here Group Limited in November 2025, reflecting its commitment to a focused identity in the pop toy sector.
Products and Services
- Collectible Plush Toys:
Here Group Limited offers a wide array of plush toys that are not only soft and cuddly but also designed with unique characters that resonate with various themes and styles. These collectibles are perfect for children and adults alike, appealing to a broad audience of pop culture enthusiasts.
- Figures:
The company provides an extensive assortment of collectible figures that bring popular characters and themes to life. These figures are crafted with attention to detail, making them perfect for display or play, as well as valuable additions to any collection.
