重要人事调整！LV高管加入

Group 1 - The core point of the news is the significant personnel changes at Pop Mart following a sharp decline in stock price, with the appointment of Wu Yue as a non-executive director and the resignation of He Yu [1][5] - Wu Yue, a former executive at LVMH, will receive an annual salary of 3 million HKD, which includes a fixed cash salary of 1.2 million HKD and a share-based salary of 1.8 million HKD [2] - The appointment of Wu Yue is seen as a strategic move to leverage his expertise in consumer trends and luxury goods, which aligns with Pop Mart's interest in the luxury market [2][3] Group 2 - He Yu, who has been a significant figure in Pop Mart's investment history, has resigned due to other work commitments, effective December 10, 2025 [5] - He Yu's exit comes after he missed the opportunity to benefit from Pop Mart's stock price surge, having sold his shares at a price significantly lower than the current market value [6] - Pop Mart's stock price has seen a drastic decline of over 45% from its peak in August, leading to increased short-selling activity and a negative sentiment in the market [7] Group 3 - Despite the negative sentiment, some investment institutions remain optimistic about Pop Mart's future growth, citing the upcoming release of the Labubu 4.0 version and the acquisition of film adaptation rights by Sony Pictures as potential growth drivers [9] - Analysts have noted that while the production of Labubu IP has increased significantly, this may indicate a shift from explosive growth to sustainable growth, necessitating diversification in revenue sources [7][9] - Reports indicate that the premium pricing of Labubu products is declining, with some limited editions experiencing significant price drops, which could impact speculative demand [8]