泡泡玛特，强势反弹！南向资金大举买入

Core Viewpoint - Pop Mart, one of the "new consumption three sisters" in Hong Kong stocks, has seen a strong rebound this week, with a closing increase of 6.6% on January 23, marking a weekly gain of approximately 23%, the largest in nearly three years [1] Group 1: Stock Performance and Market Sentiment - Over the past seven trading days, net buying from southbound funds for Pop Mart reached nearly 1.7 billion HKD [2] - The recent surge is attributed to the company's first share buyback in two years, boosting market confidence and attracting institutional funds [2][4] - Following the buyback announcement, Pop Mart's stock price rebounded significantly, closing up about 9% on January 20, with an intraday peak increase of over 10% [5] Group 2: Share Buyback Details - On January 19, Pop Mart announced a buyback plan to spend 251 million HKD to repurchase 1.4 million shares at prices ranging from 177.7 HKD to 181.2 HKD per share, marking the company's first buyback of 2024 [4] - On January 21, the company announced an additional buyback of 96.49 million HKD for 500,000 shares at prices between 191.1 HKD and 194.9 HKD per share, bringing the total buyback amount to nearly 350 million HKD [5] Group 3: Product Launch and Market Response - On January 22, Pop Mart launched the Valentine's Day limited edition blind box series "Starry People" for 2026, which quickly sold out, with popular items commanding high premiums in the secondary market [2][7] - The "Pucky Knock Knock Series" blind box, dubbed "electronic wooden fish" by netizens, has also become a hot item, with secondary market prices showing a significant markup [8] Group 4: IP Development and Market Trends - Pop Mart's diverse IP matrix continues to attract market interest, with significant growth rates reported for IPs such as HACIPUPU and CRYBABY, both showing year-on-year growth of approximately 249.6% and 248.7% respectively [8] - The company is also expanding its brand through cross-industry collaborations, such as the release of a limited edition phone in partnership with Honor and the launch of its independent dessert brand, POP BAKERY [9]