CCTV financial commentary: Has the peak of pop Mart's top stream arrived?

As a hot trend toy company at the moment, Pop Mart has a large number of domestic trendy toy IPs, among which Labubu is especially popular worldwide. Fans from all over the world are willing to queue overnight to buy their desirable styles, but Labubu is still hard to come by, and the price of Labubu keeps rising. However, with the announcement of a large amount of restocking across all channels on the 18th of this month, the situation has changed. Not only Labubu's price in the second-hand market has been halved, but Pop Mart's stock price has also dropped significantly for two consecutive days. There have always been doubts about Pop Mart's rapid expansion, so is this double decline in product and stock prices a turning point for this trendy toy company? Su Jingchun, a researcher at the China Institute of Fiscal Science, believes that for a single company, short-term disturbances are inevitable, but it is still too early to conclude whether trendy toy figurines have reached their peak. This fluctuation is partly due to market disagreements on whether the company can sustain rapid growth, and also to concerns from Pop Mart itself about high product prices and intentional factors. However, trendy toy figurines are a representative model of new consumption, and as long as the prices are moderate, the potential for consumer demand is still considerable.