<div id="readability-page-1">Chinese billionaire investor Duan Yongping touted Pop Mart International Group as a long-term investment and hinted that he may have already started building bullish bets, further validating his confidence in companies that are grappling with growth concerns. Duan, dubbed China’s Warren Buffett by some investors, recently said on social media that the toymaker had great growth potential to achieve its globalisation goal and that the barriers built by the company were enough to fend off competitors. He also said that he had opened an “insurance company” for Pop Mart, a metaphor he had used before when selling put options on stocks including Tencent Holdings and Apple. Selling a put option means a bet against declines in share prices where sellers make profit if stock prices rise. “When I took a look at it [Pop Mart] a couple of years ago, I thought this was an interesting company with a young founder and good corporate culture,” Duan said in the post. “Now I don’t have to think whether its business model can work and I have also figured out the issue of sustainability.”  Duan’s call pits the seasoned investor against some fund managers, who have trimmed holdings of Pop Mart amid unease that the company is too reliant on its hit toy Labubu for growth. Pop Mart’s shares have shed more than half of their value since reaching a record high in August, including a 23 per cent slump – even after reporting a near fourfold jump in full-year profit for 2025. Duan, 65, who hails from southern China’s Jiangxi province, is known for his investment prowess. After earning a master’s degree in economics in the 1980s from the People’s University of China, he turned around a loss-making factory in southern Guangdong province that manufactured game machines. In 1995, Duan set up an electronics company, which has now evolved and been split into mobile-phone makers Vivo and Oppo. Later, Duan shifted his focus to the capital markets. He invested in Chinese online game operator NetEase in 2002, which resulted in a 100-fold return. He has held Apple shares since 2011 – the biggest holdings in his US stock portfolio. Duan is also a fan of China’s baijiu liquor sector, with heavy exposure to industry giant Kweichow Moutai, whose shares have delivered a nearly 80-fold return over the past two decades. Duan’s personal wealth is estimated at 14.5 billion yuan (US$2.1 billion), according to the Hurun rich list released in March. Huang Zheng, founder of Chinese budget e-commerce platform PDD Holdings, is one of his proteges. Duan did not disclose in the post how much he had sold of the put option in Pop Mart, but said that he would directly buy the stock in future. He spent days trying to understand the company after the toymaker’s latest annual report had sparked his curiosity, Duan said. The barrier that Pop Mart had built to defend its position in the industry was far deeper than expected, considering its brand recognition, deals with artists and a global network of stores, Duan said. He was now a fan of Wang Ning, the founder of Pop Mart, according to the post. “The Labubu toy won’t be a flash in the pan,” said Duan. “As long as the intellectual property is operated and invested in constantly and correctly, the Labubu phenomenon will last. Pop Mart’s business model is still far from its most optimum status and there are lots of options for extensions.” Pop Mart’s shares fell 3.5 per cent to HK$159.10 on Friday, extending the slump to 15 per cent this year despite buy-backs by the company. Still, the stock is up more than 330 per cent since its listing in 2020. Its 2025 annual report showed that revenue derived from the Labubu toys accounted for 38 per cent of total sales, compared with 35 per cent in the first half of the year, raising the risk of concentration for its business growth. The stock might rise to HK$246.10 in 12 months, implying a more than 50 per cent gain from its current level, according to a consensus price target of 24 analysts tracked by Bloomberg. </div>

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<p>Chinese billionaire investor Duan Yongping has endorsed Pop Mart International Group as a long-term investment, suggesting he may be building a stake in the company. He highlighted Pop Mart's growth potential and competitive barriers, while also indicating he has sold put options on the stock. Despite recent declines in Pop Mart's share price, Duan remains optimistic about its business model and future prospects, predicting a significant price increase over the next year. His confidence contrasts with some fund managers who have reduced their holdings in the company.</p>

- Chinese billionaire investor Duan Yongping expressed optimism about Pop Mart International Group, viewing it as a solid long-term investment despite current challenges.  
- He noted the company's significant growth potential and its ability to fend off competition, while contrasting his stance with some fund managers who have reduced their stakes due to reliance on a single product.  
- Duan's insights, alongside a projected price increase for Pop Mart's shares, highlight both the company’s resilience and ongoing risks associated with its revenue concentration.

China’s Warren Buffett calls Pop Mart a long-term buy, hints at owning stake