POP MART(HK:09992) Mei Ri Jing Ji Xin Wen·2025-09-04 13:17Core Insights - The resale prices of the mini Labubu toys have started to decline after one week of release, with scalpers indicating that the price momentum is not as strong as the third generation Labubu [1][5] - The mini Labubu series has seen significant sales, with over 590,000 units sold across various platforms within a week, maintaining a premium price above the original retail price [1][3] Sales Performance - The mini Labubu was launched on August 28, selling over 300,000 units on Taobao, 155,000 units on Douyin, and 700,000 units on JD.com [3] - The original price of the mini Labubu is 79 yuan, with a recent average resale price of 138 yuan, reflecting a 75% premium over the original price [1][3] Market Dynamics - Resale prices on secondary markets have seen fluctuations, with some individual units reaching as high as 300 yuan, and complete sets being offered for up to 2,699 yuan, which is more than double the official price [5] - The price dynamics are influenced by factors such as the initial supply from Pop Mart, measures against scalpers, market acceptance, and pre-sale strategies [5] Financial Performance - Pop Mart reported a revenue of 13.88 billion yuan for the first half of the year, a year-on-year increase of 204.4%, with adjusted net profit reaching 4.71 billion yuan, up 362.8% [7] - The THE MONSTERS series, which includes Labubu, generated 4.81 billion yuan in revenue, accounting for 34.7% of the total revenue [7]