Core Viewpoint - The article discusses the phenomenon of customs auctions becoming a popular avenue for middle-class consumers to acquire rare and valuable items, particularly Disney merchandise, at significantly lower prices than retail [3][27]. Group 1: Customs Auctions and Consumer Behavior - The recent customs auction featured 735 Disney items, including 271 "green Belle" dolls, which attracted over 60,000 viewers and resulted in a final bid of 280,480 yuan, significantly higher than the starting price of 32,480 yuan [3][5][12]. - The auction reflects a growing trend where young consumers are engaging in customs auctions to find bargains, with some participants viewing it as a gamble rather than a guaranteed investment [5][8]. - The auction's excitement was fueled by social media, where claims about the rarity of certain items, like the "green Belle," created a frenzy among bidders [8][14]. Group 2: Market Dynamics and Pricing - The value of the "green Belle" dolls skyrocketed from an initial estimate of 12,000 yuan to 280,480 yuan due to perceived rarity and demand, illustrating the volatility of collectible pricing in the secondary market [5][15]. - The article highlights the disparity between perceived and actual value, as the actual number of "green Belle" dolls was much lower than anticipated, leading to buyer disappointment [15][16]. - Customs auctions have become a new channel for middle-class consumers to acquire high-end brands at lower prices, with examples of luxury items being auctioned for just a few hundred yuan [28][30]. Group 3: Implications for the Customs and Auction Industry - The rise of customs auctions is linked to the increasing popularity of "cultural value" items, which are often difficult for outsiders to appraise accurately, leading to potential market manipulation [17][24]. - The customs department has noted a rise in the seizure of high-value items, including toys and collectibles, indicating a shift in the types of goods being smuggled and subsequently auctioned [21][25]. - The article suggests that customs auctions may serve as a barometer for trending consumer interests, as the types of items seized and auctioned reflect current market demands [21][24].

Group 1 - The article highlights the recent auction of 735 Disney merchandise items, including 653 plush toys, which attracted significant attention and resulted in a toy being sold for 280,480 yuan, a nearly ninefold increase from its starting price of 32,480 yuan [8][10][18] - The auction was characterized by intense bidding, with over 60,000 viewers and 139 participants, showcasing the growing interest in collectible items among younger consumers [5][18][21] - The auction featured a specific item known as "green Belle," which was misidentified, leading to confusion and inflated prices, demonstrating the speculative nature of the collectibles market [20][21][50] Group 2 - The article discusses the evolving role of customs in the collectibles market, indicating that customs authorities are increasingly involved in the auctioning of seized goods, which has become a new trend in the "guzi" (collectibles) economy [22][29][50] - It notes that the auction process is often opaque, with no guarantees regarding the authenticity of the items sold, raising concerns among buyers about potential counterfeit products [48][50] - The customs auctions have become a popular venue for middle-class consumers seeking to acquire luxury items at lower prices, reflecting a shift in consumer behavior towards seeking value in seized goods [33][36][39]

Group 1 - The core viewpoint is that the U.S. government's tariff policies are leading to higher prices and potential shortages of goods, particularly affecting consumers and small businesses [1][5][7] - The toy industry is significantly impacted, with approximately 80% of toys sold in the U.S. being manufactured in China, leading to price increases or production halts by U.S. manufacturers unable to absorb costs [3][5] - The U.S. Chamber of Commerce has requested tariff exemptions for small import businesses to mitigate the negative economic impacts of tariffs, emphasizing the urgency of negotiations to remove tariffs imposed this year [5][6] Group 2 - The potential for economic recession in the U.S. has increased significantly due to the adverse effects of the tariff policies on consumers and businesses [6][7] - Experts and industry insiders are warning that the negative consequences of tariffs extend beyond toys to various sectors including clothing, food, and electronics, indicating a broader economic issue [5][6]

美国关税大棒落地后，一股托举我国外贸企业的合力迅速形成。与一些人预想中企业会手足无措的场景 相反，"一动一静"两幅截然不同的画面令人印象深刻。 一边，很多美国消费者坐不住了，多个中国电商平台APP在美国的下载量节节攀升，反应更快的消费者 甚至掀起了到中国扫货的"反向代购"热潮；另一边，不少我国外贸企业主一如既往地淡定、忙碌。"我 们靠能力，客户离不了""我们跟全世界做生意"，处变不惊的态度背后，是这些企业快速反应能力与韧 性的体现。"动"与"静"之间，尽显"中国制造"的国际竞争力。 实事求是地看，我国外贸企业并非没有受到影响。尽管这些年我国对美国市场的依赖度明显降低，但高 企的关税仍是实实在在的压力。在2024年我国对美出口的5246亿美元商品中，手机、电脑等各类机电产 品是重要门类，纺织品、玩具、家具等劳动密集型产品也占比不低。这些行业涉及的就业人口庞大、中 小企业数量多，稳住外贸企业的重要性不言而喻。 外贸企业该如何突围？这些天，相关的讨论有很多，比如与客户协商分担成本、拓展新市场、"出口转 内销"、重新布局供应链等，办法不少，有些瞄准眼下，有些着眼长远。不同企业受到的影响不同，采 取的措施各异，但共通之 ...

而玩具行业只是冰山一角。美国智库"凯托学会"（Cato Institute）的副总裁斯科特·林西科姆在社交媒体上对特朗普的言论发表评论称，"现在把服装、鞋子、 食品、家电、消费电子产品、能源、建筑材料等等都考虑进去，你就会开始看到问题了。" 美国媒体、业内人士和消费者也再次警告，美国人自己将不得不吞下美国滥施关税的苦果。 自本届美国政府推出滥施关税的政策以来，各界人士持续警告，最终为关税买单的是美国民众。当地时间4月30日，美国总统特朗普在白宫召开内阁会议后 也不得不承认，其关税政策和贸易战可能将会导致商店里货架更空，商品价格更高，特别是玩具店。 美国总统特朗普：有人说，货架会空空如也。也许孩子们只能拥有2个娃娃了，而不是30个，而且这2个娃娃可能还会比以往贵上几美元。 《纽约时报》以讽刺的口吻指出，美国的孩子们被告知，"为了更大的利益"，今年他们只能将就着拥有更少的玩具，这话听上去"令人不快且实诚"。 美国玩具协会称，在美国销售的玩具中约80%是中国制造，而无法承担更高成本的美国玩具制造商要么通过涨价将成本转嫁给消费者，要么直接停产，这可 能影响重要假日购物季的销售。 美智库专家喊话 把各行各业都考虑进去就 ...

5月1日至5日，第137届广交会第三期在广州举行。本期线下展展览总面积51.5万平方米，展位数量 24560个，参展企业12043家（企业数按不重复统计，下同），广交会品牌企业849家，专精特新"小巨 人"、制造业单项冠军、国家级高新技术企业等优质特色参展企业超2200家。展览题材包括玩具及孕婴 童、时尚、家用纺织品、文具、健康休闲5个板块21个展区。 广交会第三期以"美好生活"为主题，展出5个专业板块，共21个展区，助力提升人们的生活品质和美好 生活体验。第三期出口展展位数24072个、参展企业11759家。其中品牌展位4400个，共有经过严格程序 遴选出的849家品牌企业参展；首次参展企业超1600家；拥有国家级高新技术企业、制造业单项冠军、 专精特新"小巨人"等称号的优质特色企业超2200家，比上届增加100多家，参展企业结构更优、质量更 高。 本期参展产品更趋精细化、个性化。企业通过挖掘更深层次的消费需求，在孕婴童、服饰、文具、食 品、宠物用品、健康休闲等领域推出更个性化、更高品质的产品，打造美好生活体验，助力提升生活品 质。 截至4月24日，广交会第三期线上平台企业共上传展品约89万件。企业注重线上 ...

Core Viewpoint - The article emphasizes China's economic resilience and growth amidst external pressures, particularly from the U.S. trade policies, highlighting a strong first quarter performance in 2025 that instills confidence in the global economy [1][2]. Group 1: Economic Performance - China's GDP grew by 5.4% year-on-year in the first quarter of 2025, indicating a strong economic start and providing positive signals to the international community [1]. - High-tech manufacturing value added increased by 9.7% year-on-year in the first quarter, showcasing the dynamism and potential of China's economy [3]. - The number of overseas buyers at the 137th Canton Fair exceeded 64,000, setting a historical record for the same period, reflecting robust trade activity [3]. Group 2: Market Dynamics - China is recognized as both the "world's factory" and "world's market," with a solid development foundation supported by a population of over 1.4 billion and a per capita GDP surpassing $13,000 [2]. - China maintains a complete industrial system, leading in the production of over 220 out of 500 major industrial products globally, which enhances its attractiveness to foreign investors [2]. Group 3: Response to External Pressures - China has implemented a series of countermeasures against U.S. tariffs, demonstrating a commitment to stabilizing domestic market expectations and protecting national interests [4]. - The country is expanding investment and consumption through comprehensive policies, indicating a well-stocked toolbox to address current challenges [4]. - China's approach to diversifying export markets and maintaining significant holdings of U.S. debt and strategic minerals is seen as advantageous in navigating external pressures [4].

Core Viewpoint - The Shandong Provincial Government is launching the "2025 Shandong Foreign Trade Quality Products Shopping Season" to support local foreign trade enterprises facing challenges due to increased tariffs from the United States, aiming to stabilize foreign trade and expand domestic sales [2] Group 1: Event Overview - The shopping season will run from mid-May to late June 2025, featuring a theme of "Foreign Trade Quality Products, Quality Enjoyment in Qilu" [2] - Five specialized events will be held, focusing on textiles, daily consumer goods, food, agricultural products, building materials, home appliances, crafts, and electromechanical products [2][3] - The first event is scheduled for May 15-19, 2025, focusing on textiles, daily consumer goods, and toys [3] Group 2: Support Measures - The Shandong Provincial Commerce Department plans to conduct extensive research on export products affected by external changes, with a focus on consumer and electromechanical products [2] - The department will implement three key strategies: enhancing policy support, increasing financial assistance, and expanding service coverage for foreign trade enterprises [4] - Specific measures include developing targeted policies to assist enterprises in transitioning from export to domestic sales, increasing the scale of "Qilu E-commerce Loans," and improving the efficiency of insurance products for market risks [4]

Core Insights - Labubu has become a global sensation in the toy market, driven by its unique design and effective marketing strategies by Pop Mart [2][3][4] - The blind box sales model has significantly contributed to the popularity of Labubu, appealing to consumers' desire for surprise and community engagement [23][25] Group 1: Market Performance - Pop Mart's global revenue reached RMB 13.04 billion in the previous year, a 107% increase year-on-year, with overseas revenue growing by 375.2% to RMB 5.07 billion [13] - Labubu's product line contributed over RMB 3 billion to Pop Mart's revenue, marking a 726% year-on-year growth [13] - The U.S. market is showing rapid growth, with sales in the first quarter of this year exceeding the total revenue of the previous year [15] Group 2: Consumer Behavior - Consumers in the U.S. are willing to queue for hours to purchase Labubu toys, reflecting a strong demand for limited edition releases [5][8] - The blind box sales strategy creates a sense of excitement and community among consumers, enhancing the overall shopping experience [25][27] - Social media plays a crucial role in promoting Labubu, with influencers and celebrities showcasing the toys, further driving consumer interest [20][22] Group 3: Marketing Strategy - Pop Mart's marketing strategy includes limited-time offers and exclusive releases, which heighten consumer anticipation and engagement [9] - The blind box model, which combines elements of surprise and chance, has proven to be highly effective in attracting a younger demographic [23][25] - The unique design of Labubu, created by artist Kasing Lung, resonates with consumers' preferences for quirky and collectible items [18][20]

来源 |凤凰 网财经《 IPO观察哨 》 当《哪吒 2》的票房热潮席卷全国，与之联名的卡牌竟在二手市场被炒出天价——一张导演签名的哪吒卡牌 被炒到 9.5万， 堪称 "电子黄金" 。 卡牌的 幕后制作者正是 浙江卡游动漫有限公司（下称 "卡游"） ，这家靠 2元一包的卡牌年入百亿的公司，正以惊人的速度改写中国玩具行业的规 则， 却因 狂奔在 资本市场埋下暗雷。 2024年 ， 卡游营收破百亿大关，达到 100.57亿元，同比暴涨278%。它的赚钱能力甚至超越了"让年轻人疯魔"的泡泡玛特。4月14日，卡游公司 二次冲刺港交所。除令人眼红的暴利生意，萦绕在它身上的是长期困于 "收割小学生""未成年沉溺其中""小学生集卡成瘾"等负面舆论。 01 卡游到底有多暴利？ 在创投圈，卡游被称 "小孩收割机"，其推出的核心IP"奥特曼系列卡牌"牢牢锁定了小学生群体。 2024年，卡游营收达到100.57亿元，净利润高达44.66亿元，毛利率67.3%。要知道在全球大杀四方的泡泡玛特 当年的 营收 是 130.4亿元，净 利润 为 31.25亿元，这样的财务数据已经令外界惊叹。 而聚焦卡游的核心业务集换式卡牌的毛利率更是高达 ...