Core Insights - The luxury goods market in China is experiencing significant growth, particularly in the second-hand luxury segment, driven by increasing consumer awareness and the rise of circular consumption concepts [1][9] - The second-hand luxury market is expanding into lower-tier cities, indicating a substantial untapped market potential [9] Group 1: Market Trends - The second-hand luxury goods market in China has surpassed 1.2 trillion yuan in 2024, reflecting a year-on-year growth of 37% [9] - The penetration rate of second-hand luxury goods in China is currently at 5%, compared to 30% in Japan, highlighting considerable room for growth [7] - The first half of the year saw the Chinese luxury market generate sales of 517 billion yuan, with notable growth in high-end niche brands and lifestyle service brands [9] Group 2: Consumer Behavior - There is a noticeable trend of younger consumers engaging in the second-hand luxury market, with an increasing proportion of male buyers [7] - The shopping experience at "Super Transfer" has been positively received, with customers spending extended periods in-store, indicating strong consumer interest [5] Group 3: Company Strategy - "Super Transfer" operates a 3,000 square meter space with transparent pricing and rigorous quality checks, enhancing consumer trust and satisfaction [3][5] - The company plans to continue exploring multi-category strategies and improving service capabilities to foster healthy development in the second-hand industry [9]