On March 15, China Central Television's financial channel named the blind box chaos, and bubble Mart made an emergency response. At the opening of trading on March 16, the bubble Mart Hong Kong stock once fell more than 5%, pulled up in the afternoon, and rose 6.19% as of the closing.
Since its listing in 2020, the market value of bubble Mart has been halved, and there is still a lot of room for growth in China's trendy game market. How do institutions view the entry of many players?
China Central Television financial exposure "blind box economy"
bubble Mart responded quickly
On March 15, bubble Matt's "blind box economy" was exposed. According to the financial report of China Central Television, some consumers said that commodity prices were falsely high, inducing excessive consumption and poor product quality.
"The value of a doll is only 30 yuan, but when it is made into a blind box, it has basically been fried to seven or eight hundred yuan." China Central Television financial report said that the post-90s Xiaoxiao was once a senior blind box fan. However, in recent years, with the soaring price, the price of blind box goods has been far greater than its actual value.
To this end, bubble Mart responded on Tuesday that it would adjust its business at the first time and suspend the customized blind box business in the future authorization cooperation with the food industry, so as to eliminate possible food waste and remind consumers to consume rationally.
Bubble Mart said that it will continue to increase investment in improving process quality and quality control in the future. At the same time, I reiterate that bubble Mart has not participated in the second-hand market of trendy play in the past and will not participate in any form in the future.
Bubble Mart hopes that consumers can consume rationally. "In the future, we will continue to focus on improving the quality of products and services. We welcome all sectors of society to supervise us and help us become a better bubble Mart."
Big baby box
it is difficult for consumers to return and exchange after sales
As of March 16, the reporter of the securities times had searched 7531 related complaints on the black cat complaints, including no return and replacement for the defects of bubble mart, no claim for lost parts, no refund for return, etc.
In addition, some consumers posted on the social platform that they had stolen the hidden money online and had been swapped, and the blind box had defects, but the customer service refused to exchange the goods on the grounds of "inconsistent with the genuine products".
In this regard, bubble Mart made an exclusive response to the Shanghai Consumer Protection Commission on March 15. Bubble Mart said that because the doll launched by bubble mart is a hot-selling series, there may be slight differences between different batches of products from multiple factories.
After investigation, due to the time difference between the internal information synchronization of the factory and the company, the doll received from consumers has a judgment deviation.
Paopaomat said that in order to avoid the recurrence of such situations, the person in charge of the supply chain management department has instructed all engineers to strengthen the management and inspection of production in the later stage. The results will be signed and confirmed by the engineers. At the same time, the confirmation process will be verified synchronously with the production plant.
Since February 19, 2022, bubble Mart has processed all 129 exchange applications received, and the replaced goods have been sent to consumers.
bubble mart's market value has halved, and there are many competitors in the trendy game market
Today, bubble Mart fell as low as more than 5.5%, and then rose to HK $32.6, up 6.19%.
In December 2020, bubble Mart was listed on the Hong Kong stock exchange. The share price rose sharply on the same day, and the market value exceeded HK $100 billion on the first day of listing, winning the title of "toy Mao". But now, the market value of bubble Mart has halved. As of March 16, 2022, the market value is only HK $45.7 billion, and the share price of HK $32.3 per share is lower than the issue price of HK $38.5 per share at that time.
On August 27, 2021, bubble Mart released the financial report for the first half of 2021. According to the financial report, the total revenue of bubble Mart in the first half of 2021 was 1.773 billion yuan, a year-on-year increase of 116.8%; The adjusted net profit was 435 million yuan, a year-on-year increase of 144.1%
At present, there is still room for growth in China's trendy game market. The national survey and big data research center of the Chinese Academy of Social Sciences released the 2021 China trend toy market development report, which pointed out that trend toys are becoming an important carrier for the leisure and communication of the new generation of young people, and it is expected that the scale of the trend toy market will reach 47.8 billion yuan in 2022.
At the same time, the number of entrants to tide play is also increasing. "Shanhaichao play" brand won 5 million yuan Angel round financing; Qiandao chaoplay group announced the completion of nearly US $100 million round B financing; Xingqi world hisingy technology trendy play brand won a million dollar seed round. Netease, Tencent and mingchuangyou products have also launched their own tide games. Mingchuangyou products have established the top toy tide game brand to enter the market at a lower price.
In the face of many players, the organization still maintains confidence in bubble Mart.
China International Capital Corporation Limited(601995) believes that in 2021, the top ten and top five bubble marts will occupy seven and four, with outstanding competitive advantages at the IP end. Paopaomate's IP resource reserve and IP operation capacity are leading in the industry. While the head IP has achieved good growth, with the improvement of the richness of the IP library (such as YOKI, pinojelly, Hirono, etc.), the company's dependence on the head IP is expected to continue to decrease, and the advantages of IP diversification are further reflected.
Cinda Securities said that the current market concentration and industrialization of China's fashion industry are still relatively low, and the entry barriers are not high. The industry adjustment is conducive to the improvement of the long-term competitiveness of leading companies. In the future, the company can use the industry to complete the clearing of production capacity, and use the talent flow period to consolidate its competitive advantage.
