Core Insights - The launch of the "Star People Delicious Moments Series Blind Box" by Pop Mart has generated significant pre-sale interest, with products already listed on second-hand platforms at marked-up prices, indicating strong demand [1][2] - The "Star People" series has the potential to reduce Pop Mart's reliance on the Labubu series, which has been a concern for investors [2] Group 1: Product Demand and Pricing - The "Star People" series products, originally priced at 69 yuan, are being resold for as high as 119 yuan on second-hand platforms, showing a substantial markup [1] - The hidden variant "Little Bear Biscuit" has seen its price soar from 59 yuan to 689 yuan, reflecting a nearly 10-fold increase in value [1] - Random blind boxes have increased in price from 59 yuan to 182 yuan, while complete sets have risen from 354 yuan to 769 yuan, both showing over 2 times markup [1] Group 2: Financial Performance and Market Position - The artist IP THE MONSTERS, which includes Labubu, generated revenue of 4.814 billion yuan, accounting for 34.7% of Pop Mart's total revenue of 13.876 billion yuan in the first half of 2025 [1] - The "Star People" series has quickly become one of Pop Mart's fastest-growing new IPs, achieving over 100 million yuan in revenue within its first year and 390 million yuan in the first half of 2025 [2] - Pop Mart's stock closed at 261.8 HKD per share, with a total market capitalization of 351.6 billion HKD, reflecting a 19.3% decline over the past month [2]