Core Insights - The launch of the mini Labubu series by Pop Mart on August 28 generated significant consumer interest, leading to rapid sellouts across multiple platforms [1][6] - Despite the initial success, there were complaints regarding the product's quality, with consumers noting issues such as small size and poor craftsmanship [1][3] - The company reported impressive financial results, with a revenue of 13.88 billion yuan for the first half of the year, marking a 204.4% year-on-year increase [6] Sales Performance - The mini Labubu was priced at 79 yuan, with a height of approximately 10.5 cm, and was available in two groups, A and B, priced at 1,106 yuan each [6] - The launch saw over 30,000 units sold on Taobao, 15,500 on Douyin, and 70,000 on JD within a short time frame [6] - The resale market for mini Labubu has also been active, with some listings reaching up to 2,500 yuan, indicating a 126% markup from the official price [7] Quality Concerns - Consumers expressed dissatisfaction with the product's quality, describing it as not worth the price and highlighting issues with craftsmanship [1][3] - The CEO of Pop Mart acknowledged the quality control challenges, stating that strict quality measures have limited production capacity [7] Financial Performance - Pop Mart's revenue for the first half of the year reached 13.88 billion yuan, with a net profit of 4.71 billion yuan, reflecting a 362.8% increase year-on-year [6] - The segment associated with Labubu, under the brand THE MONSTERS, generated 4.81 billion yuan in revenue, accounting for 34.7% of the total [6]