Core Viewpoint - The rise of the blind box economy has led to an increase in counterfeit products being sold through live streaming, resulting in significant consumer complaints and legal actions against the perpetrators [1][3]. Group 1: Industry Overview - The blind box economy is thriving, with emotional value attached to intellectual property capturing consumer interest [1]. - Counterfeit products, often sold as "scatter goods," are being marketed by online influencers, misleading consumers about their quality [2]. Group 2: Legal Actions - The Beijing Chaoyang District People's Court has been involved in several cases related to copyright infringement and the sale of counterfeit products [1][3]. - The court found that the defendants, including manufacturers and sellers, knowingly produced and sold counterfeit Bubble Mart products, leading to significant financial losses for the company and damage to brand trust [3][7]. Group 3: Criminal Proceedings - The court proceedings revealed a structured operation where counterfeit toys were produced and sold at significantly lower prices than genuine products, with profits being shared among the involved parties [4][6]. - Sentences were handed down to multiple defendants, with penalties including prison time and fines for their roles in the counterfeit operation [7][8].

8月19日，泡泡玛特披露2025年中期业绩。财报显示，上半年泡泡玛特营收为138.8亿元，同比增长 204.4%，经调整净利润为47.1亿元，同比增长362.8%。上半年公司毛利率为70.3%，同比提升了6.3个百 分点，多项数据创下历史新高。 在具体的产品上，"LABUBU"所在的"THE MONSTERS"系列是泡泡玛特上半年的"吸金王"，该系列上 半年营收48.1亿元，占比34.7%。"MOLLY""SKULLPANDA""CRYBABY"等系列的营收突破10亿元。另 外，今年上半年，泡泡玛特的毛绒品类营收61.4亿元，收入占比首次超过手办品类。 这是泡泡玛特全球组织架构调整后的首份业绩公告，也首次详细披露了中国、亚太(指中国以外的亚洲 和大洋洲国家与地区，也不包括美洲国家)、美洲和欧洲及其他地区四大区域业绩。具体来说，来自中 国的营收为82.8亿元，同比增长135.2%；来自亚太地区的营收为28.5亿元，同比增长257.8%；来自美洲 地区的营收为22.6亿元，同比增长1142.3%；来自欧洲及其他地区的营收为4.8亿元，同比增长729.2%。 ...