Core Insights - The new products from Pop Mart, particularly MOKOKO and other popular IPs, sold out instantly, with secondary market prices skyrocketing, indicating high demand and speculation [1][2][3] Group 1: Product Demand and Pricing - MOKOKO was the most sought-after item during the recent release, with secondary market prices reaching up to 1200 yuan, significantly higher than the original price of 199 yuan [1][2] - Other products, such as the "Good Dream Meteorological Bureau" plush blind box, also saw pre-release hype and price increases, with non-hidden versions attracting attention [2][5] - The official price for a single blind box is 79 yuan, while hidden versions have surged to 599 yuan, and "Big Wind in Chaos" has exceeded 200 yuan in the secondary market [5] Group 2: Production Capacity and Financial Performance - Pop Mart reported a tenfold increase in plush product production capacity compared to the same period last year, reaching approximately 30 million units per month [8][9] - For the first half of 2025, the plush category generated 6.14 billion yuan in revenue, a staggering year-on-year growth of 1276.2%, surpassing the revenue from figurines, which was 5.18 billion yuan with a growth of 94.8% [9] - The financial report highlighted that five major IPs generated over 1 billion yuan in revenue, with THE MONSTERS being the top contributor at 4.8 billion yuan [9]

Group 1 - DeepSeek officially released DeepSeek-V3.1 on August 21, featuring a hybrid reasoning architecture, improved thinking efficiency, and enhanced agent capabilities. The new model supports both thinking and non-thinking modes, providing faster responses compared to DeepSeek-R1-0528 [1] - The official app and web model have been upgraded to DeepSeek-V3.1, allowing users to switch freely between thinking and non-thinking modes via a "deep thinking" button [1] - DeepSeek announced a price adjustment for API calls starting from September 6, 2025, and will eliminate night-time discounts. All API services will continue to be billed at the current rates until that date [3] Group 2 - Tesla launched a new six-seat Model Y in China, priced at approximately $47,200, with CEO Elon Musk indicating that this variant may not be produced in the U.S. due to the rise of autonomous vehicles [5] - Kuaishou reported a 13.1% year-on-year increase in total revenue for Q2 2025, reaching RMB 35 billion, with adjusted net profit growing by 20.1% to RMB 5.6 billion [11] - Xiaopeng Motors' chairman He Xiaopeng purchased 3.1 million shares at an average price of HKD 80.49, increasing his total ownership to approximately 18.9% [11] - Sohu's CEO Zhang Chaoyang stated that Sohu Video will not participate in short drama production, focusing instead on long dramas and live broadcasts [11] - NIO announced the pre-sale of its new ES8 model starting at RMB 416,800, with deliveries expected to begin in late September 2025 [23] Group 3 - Meta responded to rumors of freezing AI department hiring, clarifying that it is a basic organizational adjustment while establishing a framework for new AI projects [9] - KKR is reportedly the leading bidder for Nissan's global headquarters building, offering approximately $610 million [16] - Intel is negotiating with large investors to raise capital through discounted equity offerings [16] - Nuro completed a $203 million Series E funding round, achieving a valuation of $6 billion [18]