$POP MART(09992.HK)Flowers do not bloom forever, what makes Pop Mart's dolls irreplaceable? After all, they are just fashionable dolls. Didn't Sanrio have high profits when it was popular before? In the end, it still declined all the way, and this is with the boost from film and TV works. Does Disney rely on dolls? It relies on top-tier film and TV cultural strength. You can fool others, but don't fool yourself. Also, the probability of Pop Mart's limited hidden editions is set too low, even worse than scratch cards. Artificially creating scarcity is essentially gambling, just like buying lottery tickets to win big with small stakes, equivalent to legal gambling.
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