Maotai's "iron powder" move to Pao Pao Mart, consumption and investment logic focuses on "containing new elements" in English.

With the listing of Pop Mart on the Hong Kong Stock Exchange and the "stock price more than ten times" myth staged by its explosive IP, many fund managers who were once heavy holders of Guizhou Maotai "iron fans" have successively "switched" to Pop Mart. At the same time, many fund managers have begun urgently searching for new consumer targets that can replicate the Pop Mart myth. The market did not disappoint. Recently, companies with new consumer characteristics represented by food retail, pet economy, and beauty and personal care have performed well in the A-share and Hong Kong stock markets, giving rise to a batch of "doubling stocks" that have caught the market's attention. According to Wind data, as of May 28th, the highest return rate of equity funds betting on new consumption has exceeded 50% this year, with more than 20 consumer-themed funds having returns of over 20% since the beginning of the year. "The consumer sector may be a bit overheated in the short term," said a public fund manager who has long been focusing on new consumption. However, industry insiders generally believe that the consumer sector still has growth potential in the medium to long term. In addition, the latest research data shows that the consumer sector has continued to be a hot spot for institutional research since May.