Di Yi Cai Jing·2025-12-30 11:47Core Viewpoint - The stock price of Pop Mart (09992.HK) has been on a continuous decline, dropping approximately 40% since its peak of HKD 339.8 per share in August this year [1][2] Group 1: Stock Performance - Pop Mart's stock has seen a significant decline, with a cumulative drop of about 40% since reaching its high in August [1][2] Group 2: Product Pricing Trends - The prices of certain Pop Mart products in the secondary market have sharply decreased, primarily due to increased supply [1] - The Labubu 3.0 series experienced a price surge upon release, with the hidden variant "Ben Wo" reaching a peak transaction price of 4,522 CNY, a premium of nearly 44.7 times its original price [1] - Following large-scale restocks, the price of "Ben Wo" plummeted to 2,433 CNY within four days, marking a 46% drop [1] - By December 30, the lowest transaction price for "Ben Wo" was 540 CNY, representing an 88% decrease from its peak market price [1] - The average transaction price for Labubu blind boxes over the past 30 days was 117.17 CNY, with a previous high of 130.76 CNY on December 16 [1] Group 3: Market Sentiment - On platforms like Xianyu and Qianshao, the Labubu series is showing similar pricing trends, with some resellers halting purchases due to declining prices [2] - Some consumers have expressed intentions to buy their preferred styles directly if all variants fall below the original price [2]