Zhi Tong Cai Jing·2025-10-09 07:11Core Viewpoint - Pop Mart (09992) has seen a significant increase in stock price, rising over 4% during trading, attributed to the launch of new Halloween-themed products and strong consumer demand during recent holidays [1] Group 1: Product Launch and Sales Performance - On October 9, Pop Mart will launch the Halloween-themed WHYSOSERIOUS series online, featuring blind box plush keychains priced at 159 yuan and CRYBABY plush tags priced at 179 yuan [1] - The recent release of the "Starry Person Delicious Moments Series" blind box on September 29 sold out instantly on the official platform, indicating strong consumer interest and demand in the secondary market [1] Group 2: Market Trends and Future Outlook - Morgan Stanley's recent report highlights that Pop Mart is expected to benefit from multiple upcoming consumer peak seasons, including China's National Day and Western holidays such as Halloween, Thanksgiving, and Christmas [1] - The firm anticipates sustained sales momentum due to ample inventory of popular products, new product launches, and store expansions [1] - The IP product market is noted to be substantial and growing, with Pop Mart's differentiated business model and competitive advantages positioned to capture the increasing "kidult" consumer demand [1]