转自：北京日报客户端 作为潮玩市场关注的焦点产品之一，泡泡玛特"迷你版LABUBU" （THE MONSTERS心底密码系列）将 于8月28日22时线上开售，8月29日线下开售。虽然尚未开售，但二手市场已有黄牛蹲守，二级市场价格 不断水涨船高。 据悉，"迷你版LABUBU"售价79元一只，尺寸高约10.5厘米，分为A/B两组，单组价格1106元，各含14 个常规款，1个隐藏款，隐藏款抽中概率为1:168。 "迷你版LABUBU"人气高涨 "现在大家把LABUBU挂在包上，以后说不定会挂在手机上，相信会成为超级爆款。"泡泡玛特创始人王 宁在2025年中期业绩会上曾如此表示。 记者发现，目前泡泡玛特多个门店粉丝群和潮玩爱好者交流群里，这一新品确实热度上涨。"这也太可 爱了！可以挂手机上""每个字母都不一样，正好可以收集变成自己的姓名拼音缩写""我一定要抢到字母 Z和M的，作为情侣款"…… THE MONSTERS 心底密码系列 搪胶毛绒挂件盲盒全图鉴 (A-M) 60.0 23 & I a 0-0 B C a 3 . 0.0/ d 420 lo - 0 1 (2 E F A 0.0/ (글 D 目前泡泡玛特平台没 ...

Core Viewpoint - The launch of the mini version of Labubu by Pop Mart has generated significant hype, with resale prices on secondary markets reaching up to 2,500 yuan, indicating strong demand and potential for high profitability [1][4]. Group 1: Product Launch and Market Response - The mini version of Labubu will officially go on sale on August 28, with resale prices on secondary platforms already doubling the official price [1]. - The mini Labubu set includes 14 regular items and 1 hidden item, priced at 79 yuan each, with a complete set costing 1,106 yuan [1]. - Other new products from Pop Mart, such as the Mokoko summer series and the Star Dream Meteorological Bureau plush blind boxes, have also seen significant price increases on secondary markets before their official release [4]. Group 2: Financial Performance - Pop Mart's revenue for the first half of the year reached 13.876 billion yuan, a year-on-year increase of 204.4%, with net profit attributable to shareholders at 4.574 billion yuan, up 396.5% [5]. - The revenue from plush products, which is the largest income source for Pop Mart, amounted to 6.14 billion yuan, accounting for 44.2% of total revenue, with a year-on-year growth of 1,276.2% [5]. - The overall revenue from THE MONSTERS series, which includes Labubu, reached 4.81 billion yuan in the first half of the year, marking a 668% increase and representing 34.7% of Pop Mart's total revenue [4].

Group 1 - The core product "Mini Labubu" from Pop Mart is set to launch online at 10 PM today and offline tomorrow, with significant pre-sale interest observed on secondary markets [2][3] - The Mini Labubu consists of 14 regular items and 1 hidden item, with a retail price of 79 yuan per blind box and a complete set priced at 1106 yuan [2] - Over 470,000 users have shown interest in the Mini Labubu on Tmall, with more than 420,000 adding it to their shopping carts [3] Group 2 - On secondary platforms, the price for a set of Mini Labubu has surged to 2450 yuan, marking a 1344 yuan increase from the original price [4] - The average transaction price for Mini Labubu on secondary markets is 1921 yuan, with a notable spike in sales volume leading up to the release [4][5] - The hidden item "Heart" has been listed at a minimum price of 679.5 yuan, with some transactions reaching as high as 1188 yuan [4] Group 3 - Pop Mart reported a revenue of 13.88 billion yuan for the first half of the year, reflecting a year-on-year growth of 204.4%, surpassing the total revenue for the entire year of 2024 [6] - The company disclosed regional performance for the first time, with China generating 8.28 billion yuan (up 135.2%), Asia-Pacific 2.85 billion yuan (up 257.8%), Americas 2.26 billion yuan (up 1142.3%), and Europe and others 480 million yuan (up 729.2%) [6] - The CEO expressed confidence in achieving a revenue target of 30 billion yuan for the year, significantly higher than the initial target of 20 billion yuan [7] Group 4 - As of the latest market close, Pop Mart's stock price was 324.4 HKD, with a total market capitalization of 435.7 billion HKD [7]

Group 1 - The core point of the news is the strong market demand and pricing dynamics for the new "Mini Labubu" product from Pop Mart, indicating a robust consumer interest and potential for high resale value [1] - The Mini Labubu will be available for online sale at 10 PM today and offline sale tomorrow, with significant pre-sale activity already noted on secondary markets [1] - The pricing structure for the Mini Labubu includes a single blind box priced at 79 yuan and a complete set priced at 1106 yuan, with resale prices on secondary platforms reaching as high as 2450 yuan [1] Group 2 - Pop Mart reported a revenue of 13.88 billion yuan for the first half of the year, representing a year-on-year growth of 204.4%, surpassing the total revenue for the entire year of 2024 [2] - The company disclosed regional performance, with China generating 8.28 billion yuan (up 135.2%), Asia-Pacific 2.85 billion yuan (up 257.8%), Americas 2.26 billion yuan (up 1142.3%), and Europe and other regions 480 million yuan (up 729.2%) [2] - The CEO expressed confidence in achieving a revenue target of 30 billion yuan for the year, significantly higher than the initial target of 20 billion yuan [2]

Core Viewpoint - A new individual business named "Bubuxiong Trendy Toy Museum" has been established in Chengdu's Wenjiang District, with a registered capital of 200,000 RMB, focusing on a wide range of sales and services related to toys, electronic products, and various other goods [1] Group 1: Business Overview - The business is registered under the legal representative Wen Yanling [1] - The registered capital of the business is 200,000 RMB [1] - The business operates in various sectors including toy sales, electronic products, and rental services [1] Group 2: Operational Scope - The business's operational scope includes sales of toys, anime, and gaming products, as well as hardware and metal products [1] - It also engages in the wholesale and retail of office supplies, stationery, and daily necessities [1] - Additional services include cultural equipment rental, conference and exhibition services, and various design services [1]

Core Insights - The significant interception of 1.83 million LABUBU counterfeit products by Chinese customs highlights a deeper issue within the global supply chain and consumer culture, reflecting a crisis of trust in cultural symbols rather than just market share [1][2][3] Group 1: Cultural Symbolism and Market Impact - LABUBU's popularity represents a collective construction of cultural symbols, where consumers are willing to pay a premium for identity and belonging rather than just the physical product [2] - The influx of counterfeit products undermines the scarcity and purity of cultural symbols, leading to a potential erosion of consumer trust in these symbols [2][3] - The crisis of trust extends beyond individual brands to the entire category, questioning the reliability of the value system that supports cultural products [3] Group 2: Environmental and Regulatory Challenges - The implementation of the EU's Corporate Sustainability Due Diligence Directive (CSDDD) requires manufacturers to prove compliance throughout the product lifecycle, posing a significant challenge for the Chinese toy industry [5] - LABUBU's production has seen a 23% increase in volatile organic compounds (VOCs) emissions compared to previous generations, raising concerns about environmental impact [5] - The average consumer generates 4.3 kg of packaging waste when collecting the full LABUBU series, contributing to long-term environmental issues [5] Group 3: ESG Initiatives and Future Directions - In response to environmental challenges, the company has announced plans to launch products made from 55% recycled materials and implement various sustainability measures [7] - However, the current improvements are seen as "remedial innovations" that do not address the fundamental conflicts between the blind box economy and sustainability [9] - To truly bridge the ESG gap, the company must restructure its consumption logic, enhance transparency in its supply chain, and redefine the core value of its intellectual property [9][10]

Group 1 - The mini version of Labubu, part of the THE MONSTERS series, is set to launch online and offline, with a retail price of 79 yuan per unit and a complete set priced at 1106 yuan [1] - On second-hand platforms, the mini version of Labubu is already being resold at significantly higher prices, with one set reaching up to 2450 yuan, indicating a markup of 1344 yuan [1] - As of the report, there are 764 listings for the mini version of Labubu on second-hand trading platforms, with a total of 251 transactions completed and an average transaction price of 1921 yuan [1] Group 2 - The hidden version of the mini Labubu is being sold at exorbitant prices, with the lowest price for a single blind box listed at 679.5 yuan, and recent transactions reaching 1188 yuan and 1100 yuan [2] - The probability of obtaining the hidden version is notably low, at 1 in 168, contributing to its high resale value [2]

Core Insights - The mini version of Labubu, part of the THE MONSTERS series, is set to launch online and offline, with significant pre-sale activity observed on second-hand platforms [1][4] - The retail price for the mini Labubu is 79 yuan per unit, with a complete set priced at 1106 yuan, while resale prices on second-hand platforms have surged, with some listings reaching up to 2450 yuan [1][3] - The hidden variant of the mini Labubu has seen extreme price inflation, with resale prices starting at 679.5 yuan and reaching as high as 1188 yuan, reflecting a low probability of obtaining this variant [3][4] Company Performance - In the first half of the year, the company reported revenue of 13.88 billion yuan, with expectations to reach 20 billion yuan for the year, and a potential to exceed 30 billion yuan based on current trends [4]

Group 1: Economic Changes and Opportunities - Chongqing has become the top city for consumption, while Anhui leads in automobile production, indicating a structural adjustment in the Chinese economy [1] - Hubei's economic growth rate of 6.2% in the first half of the year is the highest among major provinces, showcasing regional economic dynamism [1] - The increase in inbound tourism in Chongqing, with 923,000 visitors in the first half of the year, reflects the impact of improved transportation networks and a shift in economic openness [1] Group 2: Regional Development and Market Integration - The acceleration of the national unified market construction is breaking down barriers, allowing for more balanced regional development and resource allocation [2] - Central and western provinces are experiencing significant growth, with Henan's consumption growth exceeding the national average by 2.2 percentage points [2] - The export growth in inland provinces, such as Henan's 38.8% increase, highlights the resilience of these regions amid external uncertainties [2] Group 3: Industrial Upgrading and Innovation - The shift towards new production capabilities is crucial for regions lagging in development to gain competitive advantages [3] - Anhui's rapid rise in the new energy vehicle sector exemplifies how regions can capitalize on emerging industries [3] - The focus on innovation and new business models is essential for regions to achieve competitive positioning in the evolving economic landscape [3] Group 4: Changing Consumer Behavior - Consumer demand is shifting towards personalized and niche products, leading to the rise of flexible manufacturing [4] - Cultural consumption is gaining prominence, as evidenced by the success of domestic cultural IPs and films [4] - The younger generation, particularly those aged 14-35, is driving digital consumption, creating new market opportunities for businesses [5]

Group 1 - The core viewpoint of the article highlights Bubble Mart's significant growth in revenue and profit, with a 204.4% increase in revenue to 13.88 billion yuan and a 362.8% rise in adjusted net profit to 4.71 billion yuan for the first half of 2025, surpassing the entire profit of 2024 [1] - The company achieved a historical high gross margin of 70.3%, an increase of 6.3 percentage points year-on-year, indicating strong financial performance [1] - Bubble Mart's market capitalization has exceeded 400 billion HKD, and it has been included in the Hang Seng Index, reflecting strong investor interest [1] Group 2 - The company's success is attributed to its deep IP foundation and operational capabilities, with 13 IPs generating over 100 million yuan in revenue, and 5 IPs exceeding 1 billion yuan [2] - LABUBU, part of the IP matrix, generated 4.81 billion yuan in revenue, a 668% increase year-on-year, while other IPs like MOLLY and CRYBABY also showed significant growth [2] - The revenue from plush products reached 6.14 billion yuan, accounting for 44.2% of total revenue, marking a shift in product focus [2] Group 3 - Bubble Mart has transformed from a trendy goods store to a product brand since signing designer Kenny Wong in 2016, emphasizing long-term IP operation and product expressiveness [3] - The company has diversified its IP offerings, such as creating multiple versions of MOLLY and launching new products like BABY MOLLY, which received strong market feedback [3][4] - The IP incubation and operation system is well-established, focusing on exploration and differentiation in IP management [5] Group 4 - Bubble Mart has successfully expanded internationally, with significant revenue growth in all four regions, particularly in the Americas, where revenue surged by 1142.3% [6] - The company has opened more retail stores in the Americas, increasing from 22 to 41 stores, and plans to have over 60 by the end of the year [7] - In Europe and Asia-Pacific, the company continues to open stores in key locations, including airports and tourist destinations [8] Group 5 - The company emphasizes the importance of health and sustainability in its growth strategy, with a focus on improving organizational structure and supply chain efficiency [11] - Bubble Mart has implemented automation in its factories, achieving a 50% automation level, significantly higher than the industry average [11] - The company is also building its ecosystem through themed events and exhibitions, enhancing brand image and IP influence [12][13]