Pop Mart Board Director Tu Emerges as Mystery Seller of Stock

Turns out Pop Mart International Group Ltd.’s mystery seller was one of its board members.

Tu Zheng, who’s been on Pop Mart’s board since 2019, sold his 0.89% stake in the company to zero, according to Hong Kong exchange filings on Wednesday.

Since last week, there have been three large block sales of Pop Mart, the best-performing stock on the MSCI China Index this year, but the identity of the seller hadn’t been disclosed until now.

Tu benefited from Pop Mart’s rally thanks to the popularity of its Labubu dolls, which have drawn fans such as Blackpink’s Lisa ...