泡泡玛特 斥资2.51亿港元回购

Core Viewpoint - Pop Mart has initiated a share buyback of 1.4 million shares for approximately HKD 251 million after experiencing a significant decline in stock price over the past five months [2][5]. Group 1: Share Buyback Details - On January 19, Pop Mart announced the repurchase of 1.4 million shares at a price range of HKD 177.7 to HKD 181.2 per share [2][4]. - Following the buyback, the total number of issued shares (excluding treasury shares) will decrease from 1,342,943,150 to 1,341,543,150 [4]. Group 2: Market Performance and Analysis - Since reaching a high of HKD 339.8 in late August 2025, Pop Mart's stock has declined over 43%, with its market capitalization shrinking from over HKD 400 billion to HKD 242.8 billion [5]. - Analyst Jeff Zhang from Morningstar noted a potential slowdown in domestic revenue growth for Pop Mart in Q4 2025, citing inventory buildup of certain Labubu products as an indicator of waning interest in older products [5]. - Despite concerns over short-term revenue fluctuations, Zhang maintains a fair value estimate of HKD 280 for Pop Mart, suggesting that the current valuation is attractive [5].