不抢了！Labubu二手跳水，多亏了谁？

Core Viewpoint - The popularity of Labubu has significantly declined, leading to a drop in its market price and availability, indicating a shift from a financial product to a regular consumer good [2][3][6]. Group 1: Market Dynamics - Labubu's availability has increased, with products now in stock and ready for shipment within 48 hours, contrasting with previous pre-sale conditions that required a rush to purchase [2][3]. - The resale price of Labubu products has plummeted, with the price for a set of six boxes dropping to 400 yuan, significantly lower than the official price of 1168 yuan for the same set [3][6]. - The increase in supply and the retreat of speculative buying have contributed to the decline in second-hand prices, with some resellers halting purchases of Labubu products [6][11]. Group 2: Company Performance and Future Outlook - Despite the drop in Labubu's market value, the founder of Pop Mart, Wang Ning, projects a revenue of no less than 30 billion yuan for the year 2025, emphasizing the importance of sustainable growth over short-term gains [6][11]. - The stock price of Pop Mart has experienced a significant decline after peaking at 339.8 HKD per share, reflecting market adjustments following the Labubu price drop [6][11]. - The company aims to establish itself as a global leader in IP management, focusing on long-term operational strategies rather than short-term speculative profits [11][13]. Group 3: Future IP Development - The decline in Labubu's scarcity raises questions about its future appeal and revenue-generating potential for Pop Mart, which relies heavily on this IP for a significant portion of its revenue [7][8]. - There are concerns about whether new IPs, like the Star People series, can replicate Labubu's initial success without facing similar market saturation [8][13]. - The company recognizes the need for continuous innovation and the introduction of new IPs to maintain its trendiness and market relevance [13].