Duan Yongping's estimated unrealized loss on his holdings in Pop Mart is approximately HKD 1.87 billion to HKD 2.12 billion

According to the Hong Kong Stock Exchange's equity disclosure, Duan Yongping holds 106,716,000 shares of Pop Mart (09992.HK) through his investment entities, accounting for 8.01% of the issued shares. Based on the stock price of HKD 132.50 on October 27, the market value of the holdings is approximately HKD 14.14 billion.

In terms of cost, Jiemian News quoted market estimates on October 26, indicating that the average comprehensive holding cost is around HKD 150 per share; Lan Jing News previously estimated the comprehensive cost to be about HKD 152.32 per share. The corresponding paper losses are approximately HKD 1.868 billion and HKD 2.115 billion, with loss ratios of about 11.67% and 13.01%. The relevant purchase records are: 9.8232 million shares bought on May 25 at an average price of HKD 150; 4.66 million shares bought on May 28 at an average price of HKD 162.5; 10.59 million shares bought on July 6, calculated at approximately HKD 150; and an additional 1 million shares on September 1 at an average price of HKD 155. The first three transactions total approximately 25.07 million shares, with an investment of about HKD 3.816 billion, and a weighted average price of approximately HKD 152.4.

The above is based on media estimates of costs and is not the actual investment gains and losses disclosed by Duan Yongping; part of the underlying position comes from options trading, and the complete holding cost cannot be independently verified solely based on public information. Pop Mart's announcement shows that overall revenue for the third quarter of 2026 (unaudited) is expected to decline by 45% to 50% compared to the third quarter of 2025; a decline of 25% to 30% in China, 65% to 70% in the Asia-Pacific region, 70% to 75% in the Americas, and 50% to 55% in Europe and other regions; offline channels in China are expected to decline by 5% to 10%, while online channels are expected to decline by 45% to 50%.