
Core Insights - The popularity of the new LABUBU product has led to significant demand, resulting in stock shortages across multiple IP products from Pop Mart [1][4] - The recent launch of various IP products, including Starry People and others, has generated substantial market interest, with some items experiencing price surges in the secondary market [4] - The rapid growth of IPs like Starry People, HACIPUPU, and CRYBABY indicates a strong trend in consumer engagement, with Starry People achieving over 390 million yuan in revenue in the first half of the year [4] Group 1 - The mini LABUBU sold out within one minute of its online release, with prices on secondary platforms reaching approximately 2290 yuan for a full box [1] - Starry People has entered the billion-yuan IP category within a year, showcasing the rapid growth of its brand [4] - The supply chain president of Pop Mart stated that the current monthly production capacity for plush toys is over ten times that of the same period last year, reaching around 30 million units [5] Group 2 - The surge in consumer enthusiasm has posed new challenges for Pop Mart's production capacity, leading to stock shortages for multiple IP products [4] - The fastest-growing IPs, HACIPUPU and CRYBABY, reported revenue growth rates of 249.6% and 248.7% respectively in the first half of the year [4] - Pop Mart is currently in a phase of "catching up on production capacity" to meet the heightened demand for its products [5]