Core Insights - The LABUBU series from Pop Mart, which previously faced a price collapse and had over 60% of users bearish, has recently regained market interest with new Halloween-themed blind boxes selling out quickly and hidden items commanding premiums over 13 times their original price [1][7]. Price Trends - The LABUBU series experienced a significant price drop in late August, with initial prices for the fourth generation mini LABUBU series soaring to 1500-3200 RMB for unopened sets, but by early September, prices plummeted by over 50% [4][5]. - The third generation LABUBU series also saw drastic declines, with items that were once valued at 594 RMB dropping to 600-700 RMB, and previously high-priced hidden items falling by over 40% [4][5]. Market Sentiment - A survey indicated that among 14,000 users searching for LABUBU, 67% believed prices would continue to decline, reflecting a bearish sentiment in the market [5]. Recent Market Recovery - In October, new releases such as the Halloween "WHY SO SERIOUS" series and the "Star People" series have sparked renewed interest, with the Halloween series selling out within minutes and hidden items reaching peak prices of 2289 RMB, representing a 13.4 times premium [7][8]. - The "Star People" series also showed strong performance, with hidden items like "Little Bear Biscuit" achieving a peak price of 929 RMB, reflecting a nearly 14.7 times premium [8].