Morgan Stanley: Pop Mart to start its first buyback in early 2024, expected to attract investors waiting for catalysts.

Morgan Stanley stated that Pinduoduo has repurchased shares for the first time since early 2024, expecting to attract more investors' attention, especially those waiting for stock price catalysts. Analysts such as Dustin Wei pointed out in a report that Pinduoduo currently has strong growth, clear driving factors, and a clear long-term logic; it is expected that Pinduoduo's net profit will reach 12.6 billion yuan in 2025, and it had 20 billion yuan in net cash at the end of last year, indicating that the company has sufficient financial resources to bring more returns to shareholders. As usual, the company did not set a target scale or timetable for repurchases, but evaluated based on market conditions.