The identity of the mysterious seller of POP MART has been revealed, and the company's director Tu Zheng has cleared all shares
Fengqiao Capital responded to the founder shareholder of POP MART clearing their holdings, stating that due to the imminent expiration of its RMB Phase I fund, it has cleared all POP MART shares through block trades in three transactions. Meanwhile, the identity of POP MART director Tu Zheng has been revealed, as he sold all his shares through block trades, reducing his holdings from 0.89% to 0%
The mysterious seller of three large block trades of POP MART has emerged.
On May 7th, Fengqiao Capital issued a statement through its official WeChat account in response to recent discussions in the capital market regarding "investors selling POP MART shares multiple times through block trades." Fengqiao Capital stated that due to the impending expiration of its RMB Phase I fund, it had concentrated on clearing all POP MART shares purchased before the listing through three block trades over the past week, and no longer holds any shares of POP MART.
The identity of the mysterious seller of POP MART has also been revealed. According to documents released by the Hong Kong Stock Exchange on Wednesday, POP MART director Tu Zheng sold all of his shares through block trades. Tu Zheng joined the board of POP MART in 2019, originally holding 0.89% of the shares, which has now been reduced to 0% after this sale. Since last week, there have been three large block sell transactions of POP MART shares, but the identity of the seller had not been disclosed. This block trade has attracted widespread attention in the market, especially after POP MART became one of the best-performing stocks in the MSCI China Index, resulting in substantial gains for Tu Zheng.
POP MART has rapidly become a global phenomenon brand, driven by the hot sales of Labubu dolls and support from celebrities like Blackpink member Lisa, pushing up its stock price. Last year, POP MART's profits more than doubled, and its market value surpassed that of Sanrio, the parent company of Hello Kitty, and Mattel, the manufacturer of Barbie dolls, showing impressive performance.
Fengqiao Capital is an early investor in POP MART. At the end of 2011, Tu Zheng recognized the POP MART project while serving as a partner at Qifu Capital and followed up with two consecutive investments. After founding Fengqiao Capital in 2018, he continued to participate in the investment in POP MART, jointly investing 40 million yuan with Black Ant Capital and Huqiang Capital. Tu Zheng was involved in almost all of POP MART's Pre-IPO financing stages, including five rounds of capital increases and four rounds of direct investments, and introduced cooperative investors at critical moments.
Although exiting this investment, Fengqiao Capital expressed its best wishes for POP MART's future in its WeChat account, looking forward to its "starry sea" and greater glory
