Xin Lang Cai Jing·2026-01-23 02:01Core Viewpoint - Pop Mart (09992) has seen a significant stock price increase of 7.18%, reaching HKD 220.8, with a trading volume of HKD 2.067 billion, driven by new product launches and share buybacks [1][4]. Product Launches - On January 22, Pop Mart's new PUCKY series electronic wooden fish plush blind box gained attention, transforming traditional wooden fish into plush toys that produce realistic sounds when tapped, focusing on emotional relief [1][4]. - The 2026 "Full Throttle" series plush blind box sold out within one minute of its online release [1][4]. - Additionally, the 2026 Valentine's Day limited edition blind box "Starry Person's Heartbeat" series was quickly sold out, marking the first Valentine's series product for the Starry Person brand [1][4]. Share Buybacks - Pop Mart has recently conducted share buybacks totaling nearly HKD 350 million, with the latest buyback transactions exceeding previous amounts, indicating the company's confidence in its growth prospects [1][4]. Operational Excellence - The company continues to enhance its store operations, scene atmosphere, and emotional experiences, demonstrating its long-term capabilities in IP innovation and category innovation, which are driving new IPs and gameplay to gain popularity [1][4].