Qi Sheng was, of course, familiar with the name Pop Mart.
The leader of the art toy industry, which had relied on blind boxes to build a market cap in the hundreds of billions.
Even though its market value plummeted later, it was still a massive company worth tens of billions.
But now? Pop Mart's market value was only 1.5 billion.
Even after delisting from the New Third Board in two months, it would only be worth 2 billion.
That might sound like a lot, but compared to Pop Mart's lowest valuation of over thirty billion, there was still room for a profit of more than ten times that.
Compared to Pop Mart's peak market cap in the hundreds of billions, the potential return on investment was a staggering 50-fold.
In a way, Pop Mart lived and died by the blind box.
It had built its fortune on blind boxes, so when regulatory policies were later introduced, its market value plummeted accordingly.
Its insufficient development of existing IPs led to a steady decline in market value.
