[Duan Yongping Responds to Changes in Pop Mart Holdings: No Direct Stock Sales, Current Valuation Not Expensive in the Long Term] Deep Tide TechFlow reports that on August 14, Duan Yongping responded on Xueqiu regarding recent changes in Pop Mart holdings, stating that he has 'never directly sold a single share of Pop Mart.' The changes are primarily due to options trading and the exercise of expiring options, which do not indicate a long-term bearish view on Pop Mart. He explained that when the position for selling put options approaches its limit, he adopts a strategy of 'buying stocks + selling call options,' where the stocks are transferred upon option exercise at expiration. This is essentially a similar strategy to selling put options that are exercised upon expiration. Duan Yongping mentioned that the current premium for Pop Mart options is approximately 5% per month, and he may continue using this strategy for a considerable period in the future. Regarding valuation, he stated that Pop Mart's current price level is 'not expensive' from a long-term perspective, though short-term movements are uncertain, and he has not set a specific time or price for selling.