热搜第一！黄牛暂缓收购，Labubu二手市场价格大跳水

Group 1 - The second-hand market prices for Labubu products have significantly dropped, with some items falling below their original prices [1][14] - The Labubu "sitting party" plush series, originally priced at 594 yuan, had an average second-hand price exceeding 1400 yuan in July, but has now decreased to around 630 yuan [14] - The price of a single blind box, originally 99 yuan, has dropped to a minimum transaction price of 60 yuan, below the original price [14] Group 2 - Hidden variant prices have also seen drastic reductions, with the "Ben Wo" variant previously selling for 46,000 yuan now plummeting to around 480 yuan, a drop of over 98% [5][18] - The average transaction price for Labubu on platforms like Xianyu has been declining since June, currently at 83.5 yuan, with 68% of users predicting further declines [5][18] Group 3 - The company has increased its monthly production capacity from 10 million to 50 million units to meet market demand, which is believed to be a primary factor in the price collapse [10][22] - Deutsche Bank has indicated that the company is engaging in a risky strategy by trading scarcity for short-term revenue growth, which may signal a decline in popularity for trend-driven toys [10][22] Group 4 - The stock price of the company has dropped over 40%, with shares trading at 189.8 HKD, down from a high of 339.8 HKD in August, resulting in a market capitalization loss of over 200 billion HKD [10][23] - Morgan Stanley's report suggests that the company is transitioning from explosive growth to a phase of sustainable growth, with revenue growth expected to slow significantly by 2026 [11][23]