（文章来源：证券时报网） 成交活跃股方面，今日上榜个股中，南向资金成交金额最多的是中芯国际，合计成交额60.49亿港元， 阿里巴巴-W、腾讯控股成交额紧随其后，分别成交53.79亿港元、38.81亿港元。以净买卖金额统计，净 买入的个股共有8只，中芯国际净买入额为7.59亿港元，净买入金额居首，该股收盘股价上涨4.24%，中 国海洋石油净买入额为4.61亿港元，工商银行净买入额为3.57亿港元。净卖出金额最多的是盈富基金， 净卖出16.12亿港元，该股收盘股价上涨0.93%，腾讯控股、中国移动遭净卖出12.79亿港元、9.92亿港 元。 12月30日恒生指数上涨0.86%，南向资金全天合计成交金额为923.00亿港元，其中，买入成交442.28亿 港元，卖出成交480.72亿港元，合计净卖出金额38.45亿港元。具体来看，港股通（深）累计成交金额 331.61亿港元，买入成交153.22亿港元，卖出成交178.40亿港元，合计净卖出金额25.18亿港元；港股通 （沪）累计成交金额591.38亿港元，买入成交289.06亿港元，卖出成交302.33亿港元，合计净卖出金额 13.27亿港元。 今日上榜个股中，中芯 ...

Group 1 - The prices of certain Pop Mart products in the second-hand market have significantly dropped due to increased supply [2][3] - The Labubu 3.0 series, which was highly sought after at launch, saw its prices plummet after large-scale restocks [2] - The hidden variant "Ben Wo" reached a peak price of 4,522 yuan, a 44.7 times markup, but fell to 540 yuan by December 30, representing an 88% decrease from its peak [2] Group 2 - The average transaction price for the Labubu series over the past 30 days is 117.17 yuan, down from a peak of 130.76 yuan on December 16 [2] - Some second-hand platforms show prices for certain Labubu models falling below their original retail prices, leading consumers to consider purchasing directly at retail [3] - Pop Mart's stock price has declined approximately 40% since its peak of 339.8 HKD per share in August [3]

Group 1 - The consumer market in 2025 has transitioned from a broad recovery narrative to a phase of structural differentiation, focusing on balance amidst competition and transformation [1] - The contribution of consumption to economic growth is significant, accounting for 53.5% [1] - Key themes in the industry discussions have shifted from "recovery" to "differentiation" and "transformation" [1] Group 2 - Wahaha is undergoing significant changes following the passing of its founder, with challenges in leadership succession and channel reforms leading to potential mergers and eliminations [2] - The company achieved a revenue growth of 500 million yuan in 2025, amidst speculation about its future structure [2] - The beverage industry is experiencing a shift from rapid expansion to a focus on supply chain development and market positioning, as seen with brands like Bawang Tea and Mixue Ice City [2] Group 3 - Pop Mart has seen its stock price increase nearly 15 times over 17 months, becoming a notable player in the consumer market [3] - The popularity of the Labubu toy reflects the emotional engagement of consumers, particularly among the younger generation [3][4] - However, the prices of some products have started to decline, indicating a potential cooling in demand [3] Group 4 - The film "Nezha: The Devil's Child" has made a significant impact on the 2025 consumer market, generating a box office of 15.446 billion yuan and accounting for over 52% of the total box office in the first half of the year [6] - This highlights the extreme "head effect" in consumer spending, showcasing the market's structural differentiation [6] - Brands that can accurately capture niche demands and build competitive barriers are likely to thrive in this complex environment [6]

2025.12. 30 以今年最火热的Labubu3.0前方高能系列为例，在4月产品发售之初，由于产品供不应求，甚至出现 了玩家凌晨蹲守、以及市场层层加价的现象，特别是隐藏款更是一娃难求。但随着大规模补货，该系 列价格急速回落。 得物App数据显示，隐藏款"本我"在发售后市场成交价持续走高。早在6月14日，价格达到峰值，从 99元上涨至4522元，溢价近44.7倍。随着6月18日全网大规模补货，隐藏款在6月18日价格下跌至 2433元，短短4天下跌了46%。随着9月22日、9月29日、10月31日、11月11日等多轮大规模补 货，隐藏款"本我"12月30日的最低成交价为540元，较峰值市场价下跌了88%。 得物APP数据显示，Labubu前方高能盲盒的近30日平均成交均价为117.17元，该款产品价格曾在 12月16日时达130.76元，目前价格处于回落之中。 而在闲鱼App和千岛App上，Labubu系列产品也呈现出类似的趋势。 甚至有"黄牛"在社交平台发帖称，暂缓收购Labubu系列。在某二手平台上，部分款的价格已低于发 售价。还有部分消费者在社交平台评论称，如果所有款式都低于原价，那就直接买自己喜欢的。 ...

热搜第一！黄牛暂缓收购，Labubu二手市场价格大跳水 日前，泡泡玛特旗下Labubu系列盲盒二手市场价格大跌的消息引发热议。 12月29日晚间，"泡泡玛特开始五折甩卖了"的话题一度冲上微博热搜第一，在榜时长超4小时。 Labubu二手市场价格大幅下跌 部分跌破发行价 具体来看，原价594元一盒的Labubu坐坐派对搪胶毛绒系列，7月份在二手平台的均价曾超1400元，目前已降至630元左右；售价99元的单只盲盒最低成交 价目前降至60元，跌破发行价。 小红书平台上，有网友表示自己买了两盒Labubu 4.0，原以为剩下的可以在闲鱼平台卖出，没想到原价卖都被嫌贵，她直言以后"再也不端盒了"。 隐藏款价格也出现大幅下调。其中，前方高能系列隐藏款"本我"的成交价，此前曾一度炒至4.6万元/只，被称为"盲盒界的爱马仕"，目前暴跌至480元左 右，跌幅超98%。第四代迷你Labubu的隐藏款也从800元回落至260元左右。 在闲鱼、千岛、得物等平台，近期Labubu的上架数量增多，不过成交价格出现下调。其中，闲鱼平台显示，6月以来，Labubu近7日成交均价一路震荡下 跌，目前已降至83.5元；而对于后续趋势，68%的 ...

得物App数据显示，隐藏款"本我"在发售后市场成交价持续走高。早在6月14日，价格达到峰值，从99 元上涨至4522元，溢价近44.7倍。随着6月18日全网大规模补货，隐藏款在6月18日价格下跌至2433元， 短短4天下跌了46%。随着9月22日、9月29日、10月31日、11月11日等多轮大规模补货，隐藏款"本 我"12月30日的最低成交价为540元，较峰值市场价下跌了88%。 今年下半年，泡泡玛特（09992.HK）的股价也持续下跌，自今年8月高点339.8港元/股以来，其累计跌 幅约40%。 近日，泡泡玛特部分产品在二手市场价格进一步"跳水"，主要是受供给增加的影响。 以今年最火热的Labubu3.0前方高能系列为例，在4月产品发售之初，由于产品供不应求，甚至出现了玩 家凌晨蹲守、以及市场层层加价的现象，特别是隐藏款更是一娃难求。但随着大规模补货，该系列价格 急速回落。 甚至有"黄牛"在社交平台发帖称，暂缓收购Labubu系列。在某二手平台上，部分款的价格已低于发售 价。还有部分消费者在社交平台评论称，如果所有款式都低于原价，那就直接买自己喜欢的。 今年下半年，泡泡玛特（09992.HK）的股价也持续下 ...

Core Insights - The article highlights that Pop Mart has deepened its overseas supply chain layout, which is expected to drive the company's global business expansion [1] Group 1: Global Expansion - Pop Mart's partners in Indonesia, Cambodia, and Mexico have recently commenced shipments, indicating a significant step in its international operations [1] - The establishment of six major production bases globally covers Southeast Asia and Mexico, enhancing the company's ability to serve international markets [1]

Core Viewpoint - Pop Mart's overseas supply chain is deepening with recent shipments from partners in Indonesia, Cambodia, and Mexico, indicating a significant step in the company's global expansion strategy [1] Group 1 - Pop Mart has established six major production bases globally, covering Southeast Asia and Mexico, which is expected to further enhance the company's international business development [1]

Group 1 - The core viewpoint of the article highlights that Pop Mart's partners in Indonesia, Cambodia, and Mexico have recently begun shipping, indicating a deepening of the overseas supply chain layout [1][2] - Pop Mart has established six major production bases globally, covering Southeast Asia and Mexico, which is expected to further promote the company's global business expansion [1][2]

来源：零售圈头条 来源：零售圈头条 ...