Duan Yongping Increases Stake in Pop Mart, Holdings Exceed 100 Million Shares
0xBroomberg
Veteran investor Duan Yongping raised his Pop Mart (09992) holding to 102 million shares — a 7.65% stake — anchoring his thesis on 10-to-20-year profit durability, a long-cycle bet that the business model is already proven.
How much did he actually buy?
HKEX filings on July 10 show Duan's stake rose from 91.27 million shares to 102 million shares, crossing the 100-million mark.
His ownership went from 6.85% to 7.65%. At Pop Mart's roughly HK$200 billion market cap, the position is worth over HK$15 billion.
This means → Duan is not testing the water. He is adding to an already large position with clear directional conviction.
Why is he still buying?
Duan's own reasoning: Pop Mart earned RMB 13 billion in profit last year, its business model is proven, and its corporate culture is strong.
His key assumption — average annual profit over the next 10 to 20 years will very likely stay at or above current levels.
In plain terms = he believes the company has already demonstrated it can make money, and that earning power will persist for a decade or two, making the current price worth paying.
What about short-term volatility?
Duan's own words: "I don't care what others think, and I don't care about short-term earnings swings. I just try to think about what things look like in 10 or 20 years."
He added that his assumptions are based entirely on personal experience and his own understanding of the world — with no guarantee of being right.
This means → his holding strategy is anchored solely to long-cycle profitability. Short-term price moves are not a trigger to sell — but he leaves room for the possibility he is wrong.
What does this signal for other investors?
Duan Yongping is widely regarded as a benchmark figure in value-investing circles. His large position moves are often read by the market as a signal flare.
But he has repeatedly stressed this is a personal judgment, built on qualitative assessment of business model and culture, not a precise valuation model.
This reflects a key distinction: Duan is buying "can this business keep making money," not "will this stock rally next quarter." Before following, ask yourself whether your own holding period matches his.
Content is for reference only, not financial advice.