On October 20, value investor Duan Yongping posted on the social platform Xueqiu, referencing POP MART and writing: “I just checked the prices—looks like business isn't going so well for Bubble Insurance, either.”

The brief post consisted only of that line. It did not specify what “tried a price” referred to, which asset or metric it concerned, what methodology or time frame was used, or what the phrase “bubble insurance company” meant in this context. The message included no data, projections, or conclusions about POP MART.

Beyond noting the platform (Xueqiu) and the date of publication (October 20), the post provided no additional background, trading intention, risk disclosure, or further detail for interpretation.