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Duan Yongping's Pop Mart long position drops to 5.55% after option contract settlement

Duan Yongping's Pop Mart long position drops to 5.55% after option contract settlement

Hong Kong exchange disclosures showed the move was tied to exercised call options and expiring puts, with Duan Yongping later saying part of the stake was "called away" rather than sold in the market.

Fact Check
The Jin10 report, citing HKEX disclosure, confirms H&H International Investment reduced its Pop Mart long position from 7.65% to 5.55% on July 30, 2026, matching the claim exactly. The Cailianshe (CLS) and Wallstreetcn reports confirm Duan Yongping's July 23, 2026 statement that he was highly unlikely to sell within 10 years, and CLS confirms the earlier July 10 disclosure putting his stake at 7.65%. The sequence (statement July 23, reduction disclosed for July 30) supports the 'days after' framing. All elements of the claim are independently corroborated by multiple credible financial sources tracing back to official HKEX disclosures.
Summary

H&H International Investment's disclosed long position in Pop Mart fell to 5.55% from 7.65% as of July 30, 2026, after shares were delivered under exercised call options rather than sold directly in the market. Duan Yongping later said on Xueqiu that the move was mainly due to expiring put options materially affecting the holding ratio, while some shares were also "called away" after he had sold call options when building the position. The filing showed that Duan, who holds Pop Mart shares through H&H International Investment while selling options as part of a longer-term strategy, delivered stock at an average settlement price of about HKD 162.50, reducing physical holdings by roughly 8.9328 million shares. He added that he may continue using the same approach as long as the share price stays within a certain range. Duan had said in April that "Pop Mart Insurance Company has opened," referring to selling put options to collect premium income and potentially buy shares at lower prices if the stock falls.

Terms & Concepts
  • Long position: An investor's ownership or economic exposure that generally benefits when the asset price rises.
  • Call options: Contracts that can require the seller to deliver shares at a preset price if the buyer exercises them.
  • Put options: Contracts that give the buyer the right to sell shares at a predetermined price before expiry.