Hua Xia Shi Bao·2025-11-07 05:06Core Viewpoint - The recent incident involving a live-streaming event for a product priced at 79 yuan has sparked consumer criticism and led to a significant drop in the stock price of Pop Mart, highlighting potential issues with pricing strategy and consumer perception [1][2]. Group 1: Incident Overview - During a live-streaming session, staff members commented on the high price of the DIMOO blind box, leading to consumer backlash and accusations of exploiting buyers [1]. - Following the incident, Pop Mart's stock fell over 5%, closing at 208.2 HKD per share, with a total market capitalization of 279.6 billion HKD [1][2]. Group 2: Company Response - Pop Mart has acknowledged the live-streaming incident and is conducting an internal investigation but has stated that no employees will be dismissed as a result [2][3]. - The company’s customer service confirmed that they are addressing the situation internally and have not yet decided on any price adjustments for the 79 yuan product [4]. Group 3: Product Details - The DIMOO blind box series, launched in November, includes six regular items and one hidden item, with a pricing structure of 79 yuan per box and 474 yuan for a full set [5]. - The product's components include zinc alloy charms and polyester cords, but the production cost for imitations is significantly lower, raising questions about the product's perceived value [8]. Group 4: Previous Controversies - Prior to the live-streaming incident, Pop Mart faced criticism for quality control issues related to the Skullpanda blind box series, which had printing errors that went viral on social media [11][12]. - The company quickly removed the flawed products from sale and offered exchanges, but customer dissatisfaction remained due to lengthy replacement times [12]. Group 5: Financial Performance - Pop Mart has reported strong financial performance, with a 245% year-on-year revenue increase in Q3 2025, driven by significant growth in both domestic and international markets [13]. - The DIMOO IP contributed 1.105 billion yuan in revenue during the first half of 2025, accounting for 8% of the company's total revenue [14]. Group 6: Leadership and Market Position - Pop Mart was founded in 2010 and has established itself as a leading player in the trendy cultural entertainment sector, focusing on IP incubation and consumer engagement [10]. - The founder, Wang Ning, has seen his net worth rise to approximately 146.7 billion yuan, reflecting the company's market success and his significant ownership stake [16].