Reward 500 Tiger-coinsNext Tuesday (Aug 19), two hot Hong Kong-listed companies — $XIAOMI-W(01810)$ and $POP MART(09992)$ — will release their Q2 earnings.
Xiaomi: EV & Smartphone Businesses in Focus
According to Bloomberg consensus, Xiaomi’s Q2 revenue is expected to reach RMB 115.7B (+30% YoY), with adjusted net profit at RMB 10.2B (+65% YoY).
Bullish: JPMorgan, CICC and others see future potential from Xiaomi’s EV business, AI glasses, and the India market.
Bearish: Some worry about slowing profitability in smartphones and IoT.
Stock performance: +8% in Q2, but down over 11% since July, underperforming the market.
Pop Mart: New IPs Driving Explosive Growth
Labubu is now a global phenomenon, while Crybaby and Twinkle Twinkle are rapidly gaining traction.
In 2024, Crybaby’s revenue surged 1,537% YoY, surpassing RMB 1B, becoming the fastest-growing new revenue pillar.
The market is watching whether new IPs can continue to deliver and if international expansion can open up bigger growth.
📌 How to Use Hong Kong Stock Options to Trade Xiaomi & Pop Mart Earnings?
Hong Kong stock options work just like U.S. options. For popular names like Xiaomi and Pop Mart, Tiger offers exclusive access to HK options so you can take part in earnings season moves.
Buy side: small cost, big payoff potential
If the stock jumps 10% after earnings, buying shares could cost hundreds of thousands, but buying a call option may only cost a few hundred or thousand HKD.
Strategies:
✅ Bullish on earnings beat → Buy Call Options: Low cost, high potential if shares rally.
✅ Bearish on earnings miss → Buy Put Options: Profit if shares drop after results.
⚠️ But note: with earnings so close, implied volatility (IV) may already be high — watch out for IV crush. You could also try with a demo account this time.
“Buffett strategy”: Selling Put Options
Equivalent to “waiting to buy shares at a lower price,” while collecting premium upfront.
Key points for option sellers:
Focus on selling out-of-the-money (OTM) options.
Near resistance → sell calls; near support → sell puts.
If contracts move near-the-money, be prepared for assignment or roll positions.
Take profit if premiums give 10%+ returns in the short term.
Questions:
Do you think Xiaomi’s EV story will “materialize” in this earnings report, or will smartphones/IoT drag more weight?
Can Pop Mart’s new IPs like Crybaby and Labubu continue to hold up the stock price?
If you were to use HK options to play earnings, would you choose buying calls to bet on upside, or selling puts to bet against a major drop?
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Comments
For Pop Mart, it’s harder for me to judge the valuation. Labubu and Crybaby show strong IP potential, but much of the optimism may already be priced in. The key risk is whether these IPs can sustain momentum and whether global expansion delivers the same results. I’d rather stay cautious until earnings.
If I were to use HK options, I’d lean towards buying Xiaomi calls since I’m more bullish there — limited risk but high potential upside if EV or AI news surprises. For Pop Mart, I’d consider selling puts after earnings volatility cools down, especially if the stock pulls back but fundamentals remain solid.
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I think crybaby and labubu will continue to hold up popmart’s price as the craze is still going strong. There is effectively no rival that has come close to these.
I will prefer to buy calls on both stocks to bet on upside. Alternatively, a combination of buying calls and selling outs would help to manage the risk from unexpected earnings. @Fenger1188 @Kaixiang @Success88 @Wayneqq @SPOT_ON @HelenJanet @DiAngel @Universe宇宙 @LuckyPiggie @SR050321 come join
至于泡泡玛特，我认为它的核心风险在于IP的生命周期。像爱哭鬼、拉布布这种爆款IP确实能在短期内撑起营收，但长期能否持续造血才是关键。一个IP火一阵很容易，但能否持续吸引消费者、不断迭代内容和产品，才决定公司能不能长期维持高估值。如果他们能把潮玩变成一种文化，而不是单纯的盲盒生意，股价才有稳固的支撑。
如果用香港期权来操作，我个人倾向于卖出看跌期权。原因是波动率高的时候，期权费更可观，而我对整体市场的中长期趋势依旧偏乐观。与其豪赌上涨，不如通过收取权利金的方式来降低成本，同时把风险控制在可承受范围内，这种策略在当下更务实。