$POP MART(09992.HK)Although the stock price has experienced a significant short-term pullback, in reality, there has been a stable and continuous net inflow of funds over the past 20 days. Under normal circumstances, when the stock price stabilizes, short positions will gradually start to close (though a short-term collective push by short sellers is not ruled out, but such short-term predictions are not very meaningful). However, from a capital perspective, Pop Mart is clearly undergoing a process of position rotation and mutual criticism.