POP MART Founder: Labubu Achieved Over 100 Million Units Sold Worldwide Last Year
Company Growth: POP MART's founder and CEO Wang Ning reported over 10,000 global employee partners and more than 100 million registered members, with Labubu's annual sales exceeding 100 million units.
Sales Performance: The total sales of all categories and IP products surpassed 400 million units, with POP MART operating in over 100 countries and regions, and maintaining over 700 global stores.
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HKD1.4 Billion Net Inflow from Southbound Trading into TENCENT
Southbound Trading Inflows: TENCENT (00700.HK) saw a significant net inflow of HKD1.4 billion, while MEITUAN-W (03690.HK) also had a notable inflow of HKD314.6 million in Southbound Trading.
Southbound Trading Outflows: POP MART (09992.HK) experienced a net outflow of HKD301.1 million, with ZIJIN MINING (02899.HK) and WUXI BIO (02269.HK) also recording substantial outflows.
Short Selling Activity: TENCENT had short selling of $1.61 billion with a ratio of 7.556%, while MEITUAN-W faced $1.88 billion in short selling at a ratio of 24.332%.
Market Overview: Overall, Southbound Trading net outflow totaled HKD0, accounting for 39.70% of the total transaction amount of HKD94.78 billion.
Net Inflow of HKD735.7M from Southbound Trading into TENCENT
Southbound Trading Inflows: TENCENT, MEITUAN-W, and POP MART saw significant Southbound Trading net inflows, with TENCENT leading at HKD735.7 million, while BABA-W, SMIC, and YOFC experienced net outflows totaling HKD521 million.
Short Selling Activity: TENCENT had a short selling amount of $1.40 billion with a ratio of 10.807%, while MEITUAN-W and POP MART also had notable short selling figures, indicating active trading conditions.
Most Active Stocks: In the Shanghai-Hong Kong Stock Connect, SMIC was the most active stock with a net inflow of HKD445.3 million, while XIAOMI-W had the highest net outflow of HKD274.2 million.
Overall Trading Summary: The total Southbound Trading net outflow was HKD0, accounting for 41.79% of the total transaction amount of HKD90.78 billion, reflecting a balanced trading environment.
Citi Anticipates POP MART (09992.HK) to Achieve IP Diversification Breakthrough and Other Factors to Propel Growth as Leading Choice in China's Consumer Market
Citi Research's Outlook on POP MART: Citi Research predicts that POP MART's IP-centric diversification strategy will help mitigate cyclical risks and stimulate new demand, with a Buy rating and a target price of $415 based on projected growth by 2026.
Recent Performance Indicators: The broker noted an increase in app downloads in China and the US, attributed to the new Skullpanda x My Little Pony series, alongside strong consumer interest on social media platforms like Instagram.
Future Growth Projections: Looking ahead to 2026, Citi Research anticipates that advancements in IP diversification, product innovation, and monetization will drive POP MART's growth, bolstered by the launch of new blockbuster IPs and popularity in overseas markets.
Market Positioning: POP MART is considered a top buy in the China consumer sector, trading at a premium compared to global toy and IP peers due to its rapid growth and leading market position, despite recent short selling activity.
HKD1.4B Net Outflow from TENCENT in Southbound Trading
Southbound Trading Inflows: Meituan-W (03690.HK) saw significant net inflows of HKD545.9 million, while SMIC (00981.HK) and YOFC (06869.HK) also experienced positive inflows.
Southbound Trading Outflows: Tencent (00700.HK) faced the highest net outflow of HKD1.4 billion, alongside Pop Mart (09992.HK) and Zhaojin Mining (01818.HK), which also reported outflows.
Short Selling Activity: Notable short selling was observed across several stocks, with Tencent leading at $1.50 billion, followed by Pop Mart and YOFC, indicating a high level of market speculation.
Market Overview: Overall, Southbound Trading net outflow totaled HKD0, accounting for 40.90% of the total transaction amount of HKD95.72 billion, reflecting a cautious market sentiment.
Short Selling Activity Reaches $34.4B, Representing 17.1% of Eligible Securities Turnover at Market Close
Short Selling Turnover: The short selling turnover in the Hong Kong market reached $34.4 billion, accounting for 17.1% of the eligible securities turnover, slightly up from 16.7% on the previous trading day.
Top Shorted Stocks: The top five stocks with the highest short selling amounts include CSOP HS TECH, BABA-W, MEITUAN-W, TENCENT, and POP MART, with CSOP HS TECH leading at $2.09 billion and a short selling ratio of 47.3%.
Stock Performance: Among the top shorted stocks, CSOP HS TECH and BABA-W saw slight increases in their share prices, while MEITUAN-W and TENCENT experienced declines.
Market Data Delay: It is noted that the stock quotes for HK stocks are delayed by at least 15 minutes, and the short selling data is as of February 10, 2026.
Short Selling Activity Reaches $18B, Representing 16.7% of Eligible Securities Turnover by Midday
Short Selling Turnover: The short selling turnover in the Hong Kong market reached $18 billion at midday, accounting for 16.7% of the turnover of eligible securities, consistent with the previous trading day.
Top Short Selling Stocks: The top five stocks with the highest short selling amounts include MEITUAN-W, CSOP HS TECH, BABA-W, POP MART, and HSCEI ETF, with short selling ratios ranging from 13.8% to 44.6%.
MEITUAN-W Performance: MEITUAN-W had a short selling turnover of $1.12 billion, with a short selling ratio of 28.2%, reflecting a decrease of 2.5% in its stock price.
CSOP HS TECH Performance: CSOP HS TECH saw a short selling turnover of $1.03 billion, with the highest short selling ratio at 44.6%, indicating a slight increase of 0.8% in its stock price.
HKD1.4 Billion Net Inflow from Southbound Trading into TENCENT
Southbound Trading Inflows: TENCENT (00700.HK) saw a significant net inflow of HKD1.4 billion, while MEITUAN-W (03690.HK) also had a notable inflow of HKD314.6 million in Southbound Trading.
Southbound Trading Outflows: POP MART (09992.HK) experienced a net outflow of HKD301.1 million, with ZIJIN MINING (02899.HK) and WUXI BIO (02269.HK) also recording substantial outflows.
Short Selling Activity: TENCENT had short selling of $1.61 billion with a ratio of 7.556%, while MEITUAN-W faced $1.88 billion in short selling at a ratio of 24.332%.
Market Overview: Overall, Southbound Trading net outflow totaled HKD0, accounting for 39.70% of the total transaction amount of HKD94.78 billion.
Net Inflow of HKD735.7M from Southbound Trading into TENCENT
Southbound Trading Inflows: TENCENT, MEITUAN-W, and POP MART saw significant Southbound Trading net inflows, with TENCENT leading at HKD735.7 million, while BABA-W, SMIC, and YOFC experienced net outflows totaling HKD521 million.
Short Selling Activity: TENCENT had a short selling amount of $1.40 billion with a ratio of 10.807%, while MEITUAN-W and POP MART also had notable short selling figures, indicating active trading conditions.
Most Active Stocks: In the Shanghai-Hong Kong Stock Connect, SMIC was the most active stock with a net inflow of HKD445.3 million, while XIAOMI-W had the highest net outflow of HKD274.2 million.
Overall Trading Summary: The total Southbound Trading net outflow was HKD0, accounting for 41.79% of the total transaction amount of HKD90.78 billion, reflecting a balanced trading environment.
Citi Anticipates POP MART (09992.HK) to Achieve IP Diversification Breakthrough and Other Factors to Propel Growth as Leading Choice in China's Consumer Market
Citi Research's Outlook on POP MART: Citi Research predicts that POP MART's IP-centric diversification strategy will help mitigate cyclical risks and stimulate new demand, with a Buy rating and a target price of $415 based on projected growth by 2026.
Recent Performance Indicators: The broker noted an increase in app downloads in China and the US, attributed to the new Skullpanda x My Little Pony series, alongside strong consumer interest on social media platforms like Instagram.
Future Growth Projections: Looking ahead to 2026, Citi Research anticipates that advancements in IP diversification, product innovation, and monetization will drive POP MART's growth, bolstered by the launch of new blockbuster IPs and popularity in overseas markets.
Market Positioning: POP MART is considered a top buy in the China consumer sector, trading at a premium compared to global toy and IP peers due to its rapid growth and leading market position, despite recent short selling activity.
HKD1.4B Net Outflow from TENCENT in Southbound Trading
Southbound Trading Inflows: Meituan-W (03690.HK) saw significant net inflows of HKD545.9 million, while SMIC (00981.HK) and YOFC (06869.HK) also experienced positive inflows.
Southbound Trading Outflows: Tencent (00700.HK) faced the highest net outflow of HKD1.4 billion, alongside Pop Mart (09992.HK) and Zhaojin Mining (01818.HK), which also reported outflows.
Short Selling Activity: Notable short selling was observed across several stocks, with Tencent leading at $1.50 billion, followed by Pop Mart and YOFC, indicating a high level of market speculation.
Market Overview: Overall, Southbound Trading net outflow totaled HKD0, accounting for 40.90% of the total transaction amount of HKD95.72 billion, reflecting a cautious market sentiment.
Short Selling Activity Reaches $34.4B, Representing 17.1% of Eligible Securities Turnover at Market Close
Short Selling Turnover: The short selling turnover in the Hong Kong market reached $34.4 billion, accounting for 17.1% of the eligible securities turnover, slightly up from 16.7% on the previous trading day.
Top Shorted Stocks: The top five stocks with the highest short selling amounts include CSOP HS TECH, BABA-W, MEITUAN-W, TENCENT, and POP MART, with CSOP HS TECH leading at $2.09 billion and a short selling ratio of 47.3%.
Stock Performance: Among the top shorted stocks, CSOP HS TECH and BABA-W saw slight increases in their share prices, while MEITUAN-W and TENCENT experienced declines.
Market Data Delay: It is noted that the stock quotes for HK stocks are delayed by at least 15 minutes, and the short selling data is as of February 10, 2026.
Short Selling Activity Reaches $18B, Representing 16.7% of Eligible Securities Turnover by Midday
Short Selling Turnover: The short selling turnover in the Hong Kong market reached $18 billion at midday, accounting for 16.7% of the turnover of eligible securities, consistent with the previous trading day.
Top Short Selling Stocks: The top five stocks with the highest short selling amounts include MEITUAN-W, CSOP HS TECH, BABA-W, POP MART, and HSCEI ETF, with short selling ratios ranging from 13.8% to 44.6%.
MEITUAN-W Performance: MEITUAN-W had a short selling turnover of $1.12 billion, with a short selling ratio of 28.2%, reflecting a decrease of 2.5% in its stock price.
CSOP HS TECH Performance: CSOP HS TECH saw a short selling turnover of $1.03 billion, with the highest short selling ratio at 44.6%, indicating a slight increase of 0.8% in its stock price.
