Duan Yongping on social media:

"I've swapped my China Shenhua for Pop Mart."
In just fourteen characters, the news spread instantly, causing China Shenhua's stock to drop by 4.15%, while on the other side, Pop Mart surged in the opposite direction, with intraday gains exceeding 6%.
Is he deliberately manipulating the market?
The most dramatic part is:
By the end of 2025, Duan Yongping still said:
"I can't understand why people need Pop Mart's products, and I'm worried this demand might disappear in an instant."
Expressing "I don't get it"!
But on March 30, 2026, Pop Mart's stock price plummeted over 30%, despite the financial report showing excellent data.
Duan Yongping's attitude began to change.
On April 9, Duan Yongping officially announced he was waiting for an opportunity to buy Pop Mart.
He built his position by "selling put options," using derivatives to "take delivery."
He also said: he is a fan of Pop Mart founder Wang Ning and highly praises Wang Ning's management skills.
In April, Duan Yongping started building his position. Pop Mart's stock price continued to rise.
Until May 7, when he announced: liquidate China Shenhua and switch entirely to Pop Mart.
This guy, Duan Yongping, changed his attitude toward Pop Mart 180 degrees in just a few months!
So when exactly did he liquidate China Shenhua?