Duan Yongping Says He Will Keep Buying Pop Mart, Capping Stake at 10%

Duan's self-imposed 10% ceiling is a rare case of a high-profile investor publicly constraining his own position size out of deference to a company's objections, which says as much about governance dynamics as about conviction. The comparison to NetEase frames Pop Mart as a long-term holding rather than a trade, but the refusal to discuss it further limits visibility into how he weighs the company's pushback against his accumulation. Whether that cap holds, and whether other large holders face similar company resistance, is the open question worth watching.