Core Viewpoint - The trading prices of Labubu in the second-hand market are experiencing significant fluctuations, with a downward trend in average transaction prices and a growing number of bearish sentiments among traders [1]. Group 1: Product Performance - The third-generation Labubu "High Energy Series," which includes one hidden version and six regular versions, has a retail price of 99 yuan. The average price for regular versions in the second-hand market ranges from 90 to 130 yuan, with some versions trading below the original price [3]. - The hidden version "Ben Wo" is the most popular item in this series, initially reaching a peak price of nearly 5000 yuan in the secondary market, representing a premium of nearly 50 times. However, as of September 10, 2025, its price has dropped to the range of 700 to 800 yuan, showing a clear downward trend over the past 30 days [5]. Group 2: Market Dynamics - The "Mini Labubu" series, launched on August 28, 2025, has also seen a decline in second-hand market interest, with average trading prices dropping to between 80 and 650 yuan from an initial premium exceeding 1000 yuan [11]. - In response to high premiums in the secondary market, the company executed a large-scale restock on June 18, 2025, with a total expected replenishment of 4 to 5 million units across various platforms, leading to a significant drop in secondary market prices shortly after [15]. - Following the restock, the buyback prices for resellers plummeted, with the price for a complete set of six blind boxes dropping from 1500-2800 yuan to 650-800 yuan, and individual hidden versions falling from 250 yuan to 100 yuan [15][16]. Group 3: Company Stock Performance - Despite the fluctuations in the secondary market, the company's stock price has been on an upward trend throughout the year, with a market capitalization around 370 billion HKD. However, since late August, the stock has seen a decline, dropping below 300 HKD to 270 HKD [16].
Labubu二手市场大降温
3 6 Ke·2025-09-11 01:13