Pop Mart (09992) fell 3.2%, trading at HK$137.7, marking its fourth consecutive day of decline with a cumulative drop of 8.3%. The stock traded approximately 16.64 million shares, involving HK$2.289 billion, making it the third highest turnover blue-chip stock in morning trading.
　　
　　Mainland China is strengthening the collection of offshore trust income taxes. Bloomberg analysis points out that eight of the world's top 500 billionaires and their beneficiaries may be affected, including founders or their families from six listed companies such as Pop Mart, NetEase (09999), Pinduoduo (PDD), and China Hongqiao (01378). The State Taxation Administration recently issued a filing reminder, urging taxpayers to file legally before the transition period ends on October 22, otherwise they will face tax risks such as late payment penalties. The mainland government has not publicly named any individuals, and it remains unclear whether these eight billionaires need to pay taxes on overseas trust income or whether they have received tax payment requests.

　　Bloomberg analysis mentioned that NetEase founder Ding Lei's related overseas holdings are worth approximately US$37 billion; Pinduoduo (PDD) founder Colin Huang's holdings are worth about US$29 billion; Zhang Bo and his family's shares in China Hongqiao (01378) are worth approximately US$15.4 billion; Wang Ning's shares in Pop Mart are worth about US$10.2 billion; Yang Shao-peng's shares in SF Express International (01308) are worth US$6.9 billion; and Ding Shifu's shares in Anta Sports (02020) are worth about US$5.2 billion.

　　On the other hand, Bloomberg previously reported that the founders of Haidilao (06862) and Kan Zhun.com (BZ) have collectively sold hundreds of millions of dollars worth of shares in response to this round of tax enforcement to raise funds.

　　Currently, the Hang Seng Index stands at 23,956, down 229 points or 1%, with turnover on the main board nearing HK$102.1 billion. The Hang Seng China Enterprises Index stands at 8,055, down 72 points or 0.9%. The Hang Seng Tech Index stands at 4,058, down 49 points or 1.2%.
 

Table showing performance of related stocks

Stock (Code)	Current Price (HK$)	Change (%)
Pop Mart (09992)	137.7	Down 3.16%
China Hongqiao (01378)	19.06	Down 2.95%
NetEase (09999)	197	Down 0.35%
SF Express International (01308)	49.64	Up 0.24%
Anta Sports (02020)	76.65	Down 1.67%

(nw)