Sou Hu Cai Jing·2025-05-08 06:46Core Viewpoint - The founder of Pop Mart (9992.HK) completed a full sell-off of shares within a week, cashing out over HKD 2.268 billion as the stock price reached a new high [1][3]. Group 1: Shareholder Actions - Borchid Capital, a well-known venture capital firm, sold all its shares in Pop Mart through block trades over a week due to the impending expiration of its RMB fund [3]. - The founder and partner of Borchid Capital, Tu Zheng, expressed gratitude for the 14-year journey with Pop Mart, from initial investment to final sale [3]. - Tu Zheng's share sales included 4.05 million shares at an average price of HKD 192.95, 4 million shares at HKD 187.99, and 3.86 million shares at HKD 190.20, totaling HKD 2.268 billion [3][4]. Group 2: Company Performance - Pop Mart's stock price surged nearly 350% in 2024, prompting Tu Zheng to execute his final exit strategy [5]. - As of May 7, 2024, Tu Zheng's shareholding was reduced to 0.89% after selling 16 million shares at prices ranging from HKD 35.10 to HKD 58.80 [5]. Group 3: Market Interest - The number of public funds heavily invested in Pop Mart increased from 52 to 56 funds within a year, indicating rising market interest [6]. - Notable funds include Invesco Great Wall, GF Fund, and Southern Fund, with significant holdings in Pop Mart [8]. - On April 30, 2024, Pop Mart's stock price reached an all-time high of HKD 199 per share, but fell by 5.43% to HKD 184.5 on May 7 due to major shareholder sell-offs [8].