Zheng Quan Shi Bao·2026-01-20 05:26Group 1 - The core point of the news is that Pop Mart (09992.HK) experienced a significant stock price increase, rising over 8% after a strong performance in the Hong Kong market for new consumption concepts [1][3] - On January 19, Pop Mart announced a share buyback plan, spending HKD 251 million to repurchase 1.4 million shares at prices ranging from HKD 177.7 to HKD 181.2 per share, marking the company's first buyback of 2024 [3] - The same day, Honor announced a collaboration with Pop Mart to launch the "Honor 500Pro MOLLY 20th Anniversary Limited Edition" smartphone, priced at CNY 4,499, with a net price of CNY 3,999 after national subsidies, set to be officially released on January 25 [3] Group 2 - Huatai Securities believes that Pop Mart's global and IP group strategy leverages its unique business model advantages, driving rapid growth in performance and positioning the company as a leading global platform for trendy toys [3]