Du Yongping initially said he would only buy 5%, but now it’s 7%—he probably will end up buying up to 10%.

But even so, despite the calls, the stock price still hasn’t really improved, and Deutsche Bank has been calling to short Pop Mart from April to July, with a target price of 140, arguing that growth has slowed and that the labubu aesthetic fatigue has set in.
The key time point to watch is at the end of August—whether the semiannual report can slap Deutsche Bank in the face.