Pop Mart’s new product, the “Electronic Wooden Fish,” is trending. The hidden edition is being resold for over 300 yuan, more than double its original price!

A plush hanging blind box that makes the sound of a wooden fish has brought Pop Mart's long-dormant stock price back to life. On the afternoon of January 22, Pop Mart's Hong Kong shares surged over 6%, closing at HK$207.6 with a market value of HK$278.5 billion. The surge was driven by a new product jokingly dubbed the "electronic wooden fish" by netizens. This plush hanging blind box series, called "PUCKY Knock Knock," was launched in January, transforming the traditional wooden fish into an electronic sound device. A light tap on its head triggers a crisp sound effect. Paired with labels like "Fortune +1" and "Happiness +1," it mainly targets emotional stress relief. The product quickly shot to the top of search trends upon release. Market feedback was even more direct. According to the official website, the series is completely sold out, while the price of the hidden model has been hyped up to around 327 yuan in the secondary market—a premium rate of 230% compared to the original price of 99 yuan. This phenomenon once again demonstrates Pop Mart's strong appeal in the trendy toy market. It's noteworthy that, just one day before the stock price rally, Pop Mart completed its second share buyback of the week, with a cumulative repurchase amount of nearly HK$350 million, signaling the company's intent to support its stock price. Official website sold out, secondary market premium exceeds twofold According to Pop Mart's official website, the "PUCKY Knock Knock Series" features soft vinyl plush hanging pieces, using the classic blind box configuration of six regular characters plus one hidden. Each box retails for 99 yuan, and a full set of six boxes sells for 594 yuan. As of January 22, the series was listed as sold out. The hype in the secondary market is even more remarkable. According to reports, on a certain e-commerce platform's trendy toy shop, the hidden model is priced at about 327 yuan, a premium rate of 230%. On secondhand trading platforms, the highest listing is 288 yuan, with a premium rate of 190%. Such price performances are similar to Pop Mart's previous blockbuster products, highlighting the strong purchasing power of its core fan base. The "PUCKY Knock Knock Series" combines traditional cultural elements with modern electronic toys. Tapping the head triggers the sound effect, and internet-popular tags like "Fortune +1" and "Happiness +1" hit young consumers’ need for emotional stress relief. The “All troubles vanish with one knock on the wooden fish” product concept has resonated widely on social media. This innovation, merging traditional Zen elements with trendy modern toys, retains Pop Mart’s usual cute style while adding emotional value and social attributes to the product. It has become a new way for young people to express emotions and seek psychological comfort. Consecutive buybacks boost market confidence While the new product boosts market confidence, Pop Mart's management is also taking active steps. On the evening of January 21, the company announced that it repurchased 500,000 shares that day for HK$96.49 million, at a price range between HK$191.1 to HK$194.9 per share. This marked the second share buyback that week, with total repurchases nearing HK$350 million. Intensive buybacks reveal dissatisfaction with the current stock price as well as confidence in future development. As the new product attracts market attention, management is sending positive signals through tangible buybacks, creating a dual boost of product innovation and capital operation. Risk Warning and Disclaimer The market carries risk, and investment should be approached with caution. This article does not constitute individual investment advice, nor does it take into account the specific investment objectives, financial situation, or needs of any particular user. Users should carefully consider whether any opinions, views, or conclusions in this article are suitable for their own circumstances. Investment based on this content is at your own risk.