斥资约2.51亿港元回购，拉布布感受到“天冷了”

Core Viewpoint - Pop Mart, a leading player in the trendy toy market, has repurchased approximately 1.4 million shares for about HKD 251 million, indicating a strategic move to stabilize its stock price amid recent declines [1][5]. Group 1: Share Buyback Details - The share buyback occurred on January 19, 2026, with a total expenditure of approximately HKD 251 million [1]. - Following the buyback, Pop Mart's market capitalization stands at HKD 257.04 billion [1]. - The total number of issued shares decreased from 1,342,943,150 to 1,341,543,150 after the buyback [2]. Group 2: Market Performance and Concerns - Pop Mart's stock price has been on a downward trend since reaching a peak of HKD 339.8 in late August 2025 [5]. - There are concerns regarding a potential slowdown in domestic revenue growth in Q4 2025, with some products experiencing inventory buildup in specific retail locations [5]. - The market has shown reduced interest in older product lines, leading to significant price drops for certain items, reflecting consumer behavior trends [21].