Zhi Tong Cai Jing·2026-02-04 07:54Core Viewpoint - Pop Mart (09992) has announced London as its European headquarters and plans to expand its retail presence in the U.S. through partnerships with Simon Property Group, indicating a strategic move to enhance its international footprint and brand visibility [1] Group 1: Company Developments - Pop Mart's stock rose over 3% in late trading, currently up 2.59% at HKD 237.6, with a trading volume of HKD 30.89 billion [1] - The company has repurchased a total of 1.9 million shares, spending HKD 3.46 billion, which reflects its commitment to enhancing shareholder value [1] - The CEO, Wang Ning, highlighted the positive reception of new products outside the LABUBU series, which may boost investor confidence [1] Group 2: Strategic Partnerships - Pop Mart has partnered with Simon Property Group to open over 20 new standard retail stores across Simon shopping centers and The Mills in the U.S., marking a significant expansion in the American market [1] - This collaboration is expected to enhance Pop Mart's brand presence and accessibility in key retail locations [1] Group 3: Market Perception - Citigroup believes that the market still undervalues Pop Mart's IP vitality and incubation capabilities, suggesting potential for future growth as new products are launched [1] - The recent share buyback program is anticipated to further boost investor confidence in the company's long-term prospects [1]