靠“科技狠活”，泡泡玛特黄牛和盗版商都赚疯了

Core Viewpoint - The article discusses the booming market for collectible toys, particularly focusing on the success of Pop Mart and its popular product Labubu, which has led to significant profits for scalpers and a growing secondary market for these items [2][3][5]. Group 1: Company Performance - On June 8, Pop Mart founder Wang Ning became the richest person in Henan with a net worth of $20.3 billion (approximately 145.9 billion RMB) [3]. - Following this, on June 9, Pop Mart's stock price rose over 3%, reaching a historical high of 253 HKD per share, with a market capitalization nearing 340 billion HKD (approximately 311.3 billion RMB) [4]. - Since the beginning of 2024, Pop Mart's stock price has increased more than 11 times, largely attributed to the popularity of the Labubu series [5]. Group 2: Market Dynamics - Labubu has become a highly sought-after collectible, with some items in the secondary market selling at over 30 times their original price, and ordinary versions seeing price increases of over 100% [5]. - The article highlights the tactics used by scalpers, including the use of automated tools and multiple devices to secure purchases quickly [11][12]. - Scalpers are also leveraging membership groups for faster and more accurate restock information, with paid memberships costing between 15 to 18 RMB per month [14]. Group 3: International Market - The popularity of Labubu has extended beyond China, with international scalpers capitalizing on the demand, often selling items at significantly higher prices [20][21]. - For instance, a Labubu figure originally priced at 399 RMB was sold for 700 Malaysian Ringgit (approximately 1200 RMB) by a Malaysian scalper, indicating a threefold markup [23]. - The article notes that as domestic availability of Labubu decreases, Pop Mart is expanding its international presence, with scalpers engaging in reverse purchasing to bring products back to China [26]. Group 4: Counterfeiting Issues - The article discusses the challenges Pop Mart faces with counterfeiting, as the production costs for similar products are significantly lower, leading to a thriving market for knockoffs [31]. - Reports indicate that counterfeit versions of Labubu, referred to as "Lafufu," are being sold at a fraction of the original price, with some imitations being nearly indistinguishable from the authentic products [31][32]. - As of June 9, all counterfeit "Lafufu" products in Yiwu's commercial market were reportedly taken down, highlighting the ongoing battle against intellectual property infringement [33].