Core Insights - The new SKULLPANDA "Sleepless Theater" plush keychain series has been launched and sold out across multiple platforms immediately [2] - The premium for the hidden variant "Half-Dream Knight" has increased from 159 yuan to 749 yuan, representing a 3.7 times premium; the peak transaction price for the end box reached 1589 yuan, with only a 40% premium, marking a recent low [2] - The overall heat for SKULLPANDA is quickly returning to rational levels, indicating that future premiums may stabilize at more reasonable levels [2] Product Performance - The "Sleepless Theater" series includes 9 regular styles and 1 hidden style [2] - Recently, SKULLPANDA has released two new series: "Light Weaving Garden" plush keychains and "Winter Melody" figurines [2] - Sales and premiums for the "Winter Melody" series are weaker than those of the "Light Weaving Garden" series, with the peak premium for individual unopened blind boxes at only 0.4 times [2]