The stock price is innovative, and the market value has evaporated 100 billion yuan.

Extreme news reporter Xu Wei

The trendy play giant, known as the "Moutai", known as the young man, has a new low stock price in the near future and has wandered around HK $ 20. Compared with the high point of HK $ 106 in February 2021, the stock price has fallen for more than a year. Go to 80 %. Compared with its peak, the current market value has evaporated more than 100 billion Hong Kong dollars. People in the industry believe that the foam Mart's stall reflects the current situation of trendy culture to a certain extent, and the trend comes quickly.

The net profit growth rate of the semi -annual report is the first negative

On July 19th, Mart fell 4 consecutive trading days after the opening. Earlier on July 18, it fell more than 18%, the lowest price of HK $ 20.9 per share, and the stock price fell nearly 50%this year. The latest market value of Bubble Mart was HK $ 30.8 billion, a market value of nearly HK $ 150 billion from the peak period, and the shrinkage has over 100 billion Hong Kong dollars.

Facing the stock price that continued to fall, the company's management could not sit still. After the market on July 18, the Bubble Mart issued an announcement that the company repurchased 8.6796 million shares at a price of HK $ 21.1 -22.85/share. 190 million Hong Kong dollars. This is the highest amount of over ten repurchases since its listing. From the perspective of the market, such a large repurchase, the short -term effect is good, the stock price seems to temporarily stop the decline. In the past two days, the stock price has risen slightly. As of the close of the 21st, it was reported at HK $ 22.75.

The change of stock price is inseparable from the fundamental performance. On July 15th, the company issued the announcement of the performance early warning of the first half of this year. The expected revenue growth rate in the first half of the year was not less than 30 %, and the negative growth of net profit was not higher than 35 % year -on -year, which was its first negative growth.

Jimu Journalists noticed that in April this year, Bubble Mart released the first quarter of operating data, and its performance increased rapidly. The announcement showed that the overall income of un audited was 4.49 billion yuan, an increase of 65%-70%year-on-year.

But in less than three months, why did Bubble Mate change his face? The explanation given by Bubble Mart is: First, the repeated affected by the epidemic caused the operation of several offline stores and robotic stores in some areas. Because its offline stores are mostly distributed in first- and second -tier cities, it is greatly affected; Second, due to the increase in costs due to the expansion of the previous business, the profit is expected to decline year -on -year.

Second -hand market price has been cut

The trend of blind boxes was once widely favored by young people. In 2020, SPACE MOLLY, a co -branded product of Bubble Mart, and 1000%specifications (70 cm) was once stated by various transaction platforms to tens of thousands of yuan.

The reporter searched on the second -hand APP and found that the product offer this year is generally below 6,000 yuan (1000%), and the 400%product quotation is about 1,000 yuan. In addition to the collection models, the prices of the popular products of Bubble Mart are more unable to withstand the test of time. At the time of listing, a blind box sells for 68 yuan per major shopping mall. Now it has been as low as 99 yuan/6 on the second -hand app, and some of them have even dropped to 10 yuan.

There are nearly 9,000 complaints on the black cat platform (screenshot of the black cat website)

Earlier this year, Bubble Mart and KFC launched 6 general models and 1 hidden blind box products, which once caused consumers to buy them. They were subsequently questioned in a waste of food public opinion. After being named, all the blind box business is suspended. In addition, the reporter searched on the black cat complaint platform and found that there were nearly 9,000 complaints related to Bubble Mart. Most of the complaints are the problems of defects in delivery but cannot be exchanged, pre -sale cannot be refunded, secondary sales, and excess formaldehyde.

After 95, Xiao Zhu told Jimu Journalist that she entered the pit in 2018. The first "baby" was the antlers of the Molly insect series. In addition to the blinding box, she would also find some friends to change the "baby". Has collected 200, "But now 20 yuan can not be sold in the second -hand market.

Not only the price decline, the sales volume of Bubble Mart's blind box products also declined, and the popularity is not as good as before. For example, in the co -branded model, the King of Glory of the King of Glory, the new series of Glory Canyon, and Xianjian Qixia biography, which were launched recently, did not sell out of stock. Bubble Matt Tmall's official website shows that the monthly sales of the two have not exceeded 1,000 orders.

Industry insiders pointed out that the "lost power" of Bubble Mart reflects the current situation of trendy culture. A limited edition sales model, the stimulus gameplay of blind boxes, and the blessing of IP feelings, from the perspective of controlling the relationship between supply and demand of the market. But the market bubble seems to be pierced one by one.

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