Pop Mart’s latest interim results sparked a wave of online criticism after founder Wang Ning said the company would face greater pressure in the second half of the year and would most likely miss its previously set full-year growth target of 20%. Following the earnings release, Pop Mart shares at one point fell nearly 8%.
That reaction quickly drew attention to Duan Yongping, described in the report as the company’s largest shareholder outside its founder. On social media, Duan pushed back against skeptical comments about weak online sales in the Americas, Asia-Pacific and Europe, which one user said had halved year over year and dragged on overall performance.
Duan said he does not care about broad market expectations and instead focuses on what the company will look like in the future, adding that short-term developments do not concern him. After reviewing the earnings report, he said he thought the results were "pretty good."
The sharpest exchange came when a user mocked him by imagining an older Duan regretting his investment in Pop Mart and calling the company little more than a toy retailer. Duan answered bluntly: "Should be taking your medicine, right?"
Pop Mart’s interim earnings release triggered a fresh round of scrutiny for major shareholder Duan Yongping after founder Wang Ning said the company would face heavier pressure in the second half of the year and would most likely fail to meet its previously set full-year growth target of 20%.
After the financial results were released, Pop Mart shares at one point fell nearly 8%.
Duan, identified in the report as the company’s largest shareholder outside the founder, then faced a large number of questions and challenges from social media users.
One user argued that weak online sales in the Americas, Asia-Pacific and Europe, described as having fallen by half year over year, had dragged down the company’s overall performance. Duan responded: "I don’t care about public expectations. I only care about what the company will look like in the future. Otherwise, how would I make money?"
He added: "I don’t care about short-term things. I took a look at the earnings report and thought it was pretty good."
The most heated exchange came from a mocking comment that imitated Duan’s voice: "Old Duan: Investing in Pop Mart was the biggest mistake of my life. I thought Pop Mart had a very strong moat. I forgot that it is actually just a damn retailer selling dolls."
Duan replied: "Should be taking your medicine, right?"
The item was attributed to Bian Niu Shi and carried by Odaily.
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