Hua Er Jie Jian Wen·2025-05-07 16:28Group 1 - The core point of the news is the revelation of the identity of a mysterious seller who sold shares of Pop Mart through block trades, with the seller being Tu Zheng, a director of Pop Mart, who sold all his shares, reducing his ownership from 0.89% to 0% [1] - Fengqiao Capital, an early investor in Pop Mart, announced that it sold all its shares through three block trades due to the expiration of its RMB Phase I fund, thus no longer holding any shares in Pop Mart [1][2] - Pop Mart has gained significant market attention, especially after becoming one of the best-performing stocks in the MSCI China Index, driven by the popularity of its Labubu dolls and endorsements from celebrities like Lisa from Blackpink [1] Group 2 - Tu Zheng has been involved with Pop Mart since 2019 and has participated in various funding rounds, including two follow-up investments while at Qif Capital and later through Fengqiao Capital [2] - Despite exiting the investment, Fengqiao Capital expressed its best wishes for Pop Mart's future, hoping for its continued success and growth [2]