POP MART's new product "Electronic Wooden Fish" has gained popularity, with hidden versions being speculated to over 300 yuan, a premium of more than twice the price!

A plush hanging ornament blind box that emits the sound of a wooden fish has revitalized the long-dormant stock price of POP MART.

On the afternoon of January 22, POP MART's Hong Kong stock surged over 6%, closing at HKD 207.6, with a market capitalization of HKD 278.5 billion. The driving force behind this surge is a new product humorously referred to by netizens as the "electronic wooden fish."

This plush hanging ornament blind box, named the "PUCKY Knock Knock Series," was launched in January, transforming the traditional wooden fish into an electronic sound device. A light tap on the head triggers a crisp sound effect, accompanied by good luck tags like "Wealth +1" and "Happiness +1," focusing on emotional stress relief. The product quickly rose to trending status upon its release.

The market response has been even more direct. The official website shows that the series has sold out, while the prices of hidden variants in the secondary market have been driven up to around HKD 327, representing a staggering premium rate of 230% over the original price of HKD 99. This phenomenon once again confirms POP MART's appeal in the trendy toy market.

Notably, just one day before the stock price increase, POP MART had completed its second share buyback within the week, with a total buyback amount nearing HKD 350 million, indicating the company's intention to support its stock price.

Officially Sold Out, Secondary Market Premium Exceeds Twofold

The "PUCKY Knock Knock Series" displayed on the POP MART official website consists of rubber plush ornaments, featuring a classic blind box configuration of 6 regular characters and 1 hidden variant. The price for a single box is HKD 99, while a full box of 6 is priced at HKD 594. As of the 22nd, this series is already marked as sold out on the official website.

The hype in the secondary market is even more astonishing. Reports indicate that in a trendy toy store on a certain e-commerce platform, the hidden variant is priced at approximately HKD 327, with a premium rate of 230%. On second-hand trading platforms, the highest listed price for this item is HKD 288, also reflecting a premium rate of 190%. This price performance is reminiscent of POP MART's previous blockbuster products, showcasing the strong purchasing power of its core fan base.

The "PUCKY Knock Knock Series" combines traditional cultural elements with modern electronic toys, where tapping the head triggers sound effects, paired with internet buzzword tags like "Wealth +1" and "Happiness +1," precisely addressing the emotional stress relief needs of young consumers.

The product concept of "One knock on the wooden fish, all worries disappear" has resonated widely on social media. This innovation, which merges traditional Zen elements with modern trendy toys, not only retains POP MART's signature cute style but also imbues the product with greater emotional value and social attributes, becoming a new way for young people to express emotions and seek psychological comfort

Continuous Buybacks Boost Market Confidence

While new products boost market confidence, the management of POP MART is also taking active measures.

On the evening of January 21, the company announced that it repurchased 500,000 shares for HKD 96.49 million, with a repurchase price range of HKD 191.1 to HKD 194.9. This is the company's second share buyback this week, with a total repurchase amount nearing HKD 350 million.

The intensive buyback operations indicate the company's dissatisfaction with the current stock price and confidence in future development. While new products attract market attention, the management sends a positive signal to the market through substantial buybacks, creating a dual benefit of product innovation and capital operation