Pop Mart Stock Drops as Company Takes Legal Action Against 3D Printing Platforms
Shares of Chinese collectible toy maker Pop Mart slid sharply in recent Hong Kong trading, dipping more than 5 per cent and hitting a fresh low. The decline came as the company took legal action against a 3D printing technology firm and related platforms in a dispute over alleged copyright violations.
Pop Mart, known globally for its blind-box collectibles and characters such as Labubu, filed a lawsuit in Beijing against a 3D printing company and associated tech firms. According to court records, the case centres on claims that downloadable 3D model files featuring Pop Mart’s intellectual property were being shared without permission, potentially infringing on the company’s rights.
The action names multiple defendants, including a Shenzhen-based 3D printing business and technology platforms that hosted or facilitated access to allegedly unauthorised model files. Pop Mart alleges the availability of these files enables people to reproduce its iconic figures at minimal cost, undercutting its own products and potentially diluting the value of its brands.
In response to the suit, at least one platform swiftly removed all listings tied to Pop Mart characters, including Labubu and other licensed figures. The case is set for hearings later this spring, and it highlights growing concerns among brands about how digital distribution of printable files intersects with intellectual property rights.
For investors, legal uncertainty and questions about future revenue streams may be adding pressure to Pop Mart’s stock price, already vulnerable to shifts in market sentiment and changing demand for collectible products. The company’s shares have traded lower amid broader concerns about growth sustainability and the long-term appeal of its leading IPs.
Source: Pop Mart International Group legal filings and market data
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