Group 1: Disney's Data Collection Violation - Disney has been fined $10 million for illegally collecting data from children under 13 without parental consent through YouTube [1] - The violation involved providing videos on YouTube that allowed the collection of personal data from young viewers, which was then used for targeted advertising [1] - Although the financial impact is not significant, the incident has damaged Disney's brand image and user trust [1] Group 2: Growth in Gold-Related Enterprises - The number of gold-related enterprises in China has reached 602,100, with a year-on-year increase of 22.92% in registrations during the first eight months of the year [2] - A total of 148,900 gold-related enterprises are expected to register in 2024, marking a 10.60% increase and the highest registration volume in nearly a decade [2] - The surge in registrations is attributed to rising gold prices and increased market interest, with first-tier cities accounting for 24.80% of these enterprises [2] Group 3: NBA Star's Controversial Endorsement Deal - NBA star Kawhi Leonard is under investigation for a $28 million endorsement deal that is suspected of being a "yin-yang" contract [3] - The contract stipulates that Leonard must remain with the Los Angeles Clippers to receive the full amount, raising concerns about compliance with league regulations [3] - The situation not only affects Leonard's reputation but also has implications for the Clippers' future strategies and the overall credibility of the NBA [3] Group 4: Decline in Resale Prices of Mini Labubu - The resale prices of the mini Labubu toy have started to decline just one week after its release, with a reported drop of 10% to 60% from initial prices [4] - Despite the decline, the average resale price remains at 138 yuan, which is a 75% premium over the original price of 79 yuan [4] - The fluctuation in prices highlights the volatility of the collectible toy market, indicating a need for companies to focus on product innovation and market segmentation to maintain competitiveness [4]

Core Insights - The resale prices of the mini version of Labubu have started to decline just one week after its release, with some resellers indicating that the price momentum is weaker compared to the third generation of Labubu [2][4] - The transaction volume for the mini version of Labubu has exceeded 56,000 units within a week, with an average transaction price of 138 yuan, representing a 75% premium over the original price of 79 yuan, although this is a decrease of 10%-60% from the initial resale prices [2][4] - The average transaction price for the hidden version of Labubu has also dropped significantly, from 991 yuan at launch to 679 yuan currently, indicating a reduction in speculative pricing [4][5] Market Dynamics - The rapid price decline of the mini version of Labubu is attributed to a higher supply volume and the presence of 30 different product variants, which has reduced the liquidity in the secondary market [5] - The mini version of Labubu is sold exclusively online, limiting the ability of physical resellers to hoard inventory, which has further contributed to the price drop [5] - The company is expected to launch a second round of mini version Labubu products in October, which may lead to further price fluctuations [5] Competitive Analysis - Compared to the third generation of Labubu, the mini version has seen a significant reduction in premium pricing, with the hidden version of the third generation still commanding an average price of 939 yuan, which is 9.5 times its original price, compared to the mini version's 8.6 times premium [4][5] - The stock price of the company, Pop Mart (09992.HK), has decreased by 5.61% in the five days following the release of the mini version Labubu [5]

Core Viewpoint - The resale prices of the mini version of Labubu have started to decline significantly within a week of its release, indicating a potential oversupply and reduced demand in the secondary market [2][4]. Group 1: Market Performance - The mini version of Labubu has seen over 56,000 transactions on the Dewu app within a week, with an average transaction price of 138 yuan, representing a 75% premium over the original price of 79 yuan [2]. - However, the resale prices have decreased by 10%-60% compared to the initial release period, with specific examples showing a drop from 1930 yuan to 1541 yuan, a 20% decline [2][4]. - The average transaction price for the Labubu 4.0 has fallen from 143 yuan on August 27 to 106 yuan [2]. Group 2: Supply and Demand Dynamics - The price of the mini version Labubu has decreased from 2399 yuan before release to 1850 yuan for the (A~M) version and 1800 yuan for the (N~Z) version [4]. - The mini version Labubu has a lower premium compared to the third generation Labubu, with the hidden version of the third generation still commanding an average price of 939 yuan, a 9.5 times premium, compared to the mini version's 8.6 times premium [4]. - The rapid price decline is attributed to a larger supply, with 30 product variations and all sales conducted online, reducing the influence of scalpers [4]. Group 3: Market Sentiment and Future Outlook - Analysts suggest that the mini version of Labubu may not generate significant buzz on social media, leading to a short-lived popularity and not a sustainable sales phenomenon [5]. - Following the release of the mini version, the stock price of Pop Mart (09992.HK) has dropped by 5.61% over the past five days [6].

Core Insights - The resale prices of the mini Labubu toys have significantly decreased within a week of their release, with some styles dropping nearly 60% [1][8] - The average transaction price for the mini Labubu has fallen by 10%-60% compared to the initial sales period, indicating a decline in demand [1][9] - The stock price of Pop Mart (09992.HK) has dropped by 5.61% in the five days following the release of the mini Labubu [10] Sales Performance - Over 56,000 units of mini Labubu have been sold on the Dewu app within a week, with an average transaction price of 138 yuan, which is a 75% premium over the original price of 79 yuan [1] - The average transaction price for a specific set (N~Z) dropped from 1930 yuan on the release day to 1541 yuan, a decrease of 20% [1] - The average price for non-popular styles has also seen a significant decline, with one style dropping 57% from its release price [1] Market Dynamics - The mini Labubu's resale market is experiencing a rapid price decline due to increased supply and a larger initial release [9] - The presence of 30 different products in the series has led to reduced trading volume in the secondary market as users engage in self-exchange [9] - The mini Labubu's online-only sales strategy has minimized the impact of scalpers, as physical stores are only responsible for pick-up [9] Future Outlook - Analysts predict that the prices of mini Labubu may continue to decline with the anticipated second round of product releases in October [9] - The mini Labubu is unlikely to generate sustained buzz on social media, limiting its potential for long-term sales success [9]

Core Insights - The resale prices of the mini version of Labubu have started to decline just one week after its release, with scalpers indicating that the price momentum is weaker compared to the third generation Labubu [2][6] - The transaction volume for the mini version Labubu has exceeded 56,000 units within a week, with an average transaction price of 138 yuan, representing a 75% premium over the original price of 79 yuan, although resale prices have decreased by 10%-60% compared to the pre-sale period [2][6] Pricing Trends - The average transaction price for the mini version Labubu on the Dewu app peaked at 1,930 yuan on the release day but has since dropped to 1,541 yuan, a decline of 20% [2] - The average transaction price for the hidden version of Labubu has decreased from 991 yuan at launch to 679 yuan [6] - The average transaction price for non-popular models has also seen significant declines, with one model dropping 57% from its release price [2][6] Market Dynamics - The rapid price decline of the mini version Labubu is attributed to a higher supply volume and the inclusion of 30 product variants, which has reduced the liquidity in the secondary market [7] - The company is taking measures to mitigate scalper interference, including online-only sales and limiting in-store stock to reduce hoarding [7] - Analysts predict that the upcoming second round of mini version Labubu releases in October may lead to further price declines [7] Stock Performance - Following the release of the mini version Labubu, the stock price of Pop Mart (09992.HK) has decreased by 5.61% over the past five days [7]

Core Viewpoint - The resale prices of the mini version of Labubu have started to decline just one week after its release, indicating a lack of sustained demand compared to previous versions [1]. Group 1: Price Trends - The mini version of Labubu has seen over 56,000 transactions on the platform since its release, with an average transaction price of 138 yuan, representing a 75% premium over the original price of 79 yuan [1]. - However, the resale prices have decreased by 10%-60% compared to the initial sales period [1]. - For example, the average transaction price for a set of 14 N-Z models dropped from 1,930 yuan on the release day to 1,541 yuan, a decline of 20% [1]. - The average transaction price for the hidden variant has also decreased from 991 yuan to 679 yuan [8]. Group 2: Market Dynamics - The rapid price decline is attributed to a higher supply of the mini version, with a larger initial release and a total of 30 products in the series, which has reduced the liquidity in the secondary market [9]. - The mini version's online-only sales strategy has minimized the impact of scalpers, as physical stores only handle pickups [9]. - Analysts predict that the upcoming second round of mini Labubu releases in October may further decrease prices [9]. Group 3: Company Performance - Following the release of the mini version, the stock price of Pop Mart (09992.HK) has dropped by 5.61% over the past five days [10].