Shares of POP MART (09992) climbed over 4% once again, bringing the cumulative increase for the year to more than 30%. At the time of writing, the stock was up 4.22%, trading at HK$247.2, with a turnover of HK$1.148 billion.

Recently, the company's new product lines, the PUCKY Knock-Knock series and the Starman Heartthrob series, have gained significant popularity. Citigroup believes the market still undervalues POP MART's IP vitality and incubation capabilities.

With the enthusiastic market response to major new non-LABUBU series products and the recent initiation of a share buyback program, investor confidence is expected to strengthen further. Guosen Securities noted in a research report that recent trends show both the new PUCKY Knock-Knock and Starman Heartthrob series have sold out on the official website and command substantial premiums on secondary markets.

The hidden versions of the PUCKY Knock-Knock/Starman Heartthrob blind boxes are trading at premiums of approximately 2-3 times and 3-6 times their original price, respectively, while regular versions see premiums between 70% and 200%. The firm expressed optimism for an increase in IP momentum driven by the Spring Festival holiday and these hit products.