HK Stock Market Move | POP MART (09992) continues to rise by over 4%, showcasing confidence in development through continuous share repurchases. Citigroup is optimistic about the release of new products and share buybacks.

POP MART (09992) rose by over 4%, up 3.98% as of the time of writing, reaching HK$224.8, with a turnover of HK$1.569 billion. On the news front, POP MART's recent continuous buyback demonstrates its development confidence. The company repurchased 1.4 million ordinary shares on January 19, totaling HK$250 million; and repurchased 500,000 ordinary shares on January 21, totaling HK$96.49 million. Morgan Stanley stated that POP MART's first share buyback since early 2024 is expected to attract more investor attention, especially those waiting for stock catalysts. Citi released a research report reiterating a "buy" rating on POP MART, expecting breakthroughs in IP diversification, product innovation, and multi-field monetization capabilities to support growth momentum in 2026. Citi believes that the market undervalues POP MART's IP vitality and incubation capabilities. With the enthusiastic response to the launch of heavyweight new products outside the LABUBU series and the recent initiation of the share buyback program, investor confidence is expected to further improve. POP MART remains one of the bank's preferred buy targets in the Chinese consumer sector, with a target price of HK$415.