Core Viewpoint - The controversy surrounding a comment made by staff during a live stream about a 79 yuan blind box has led to significant backlash against Pop Mart, resulting in a stock price drop and concerns over product quality and demand sustainability [2][3]. Group 1: Incident Overview - During a live stream, a staff member commented that selling a blind box for 79 yuan was "a bit excessive," to which another staff member responded that "someone will buy it," sparking outrage among viewers [3]. - Pop Mart's stock price fell over 5% in early trading, marking its largest drop in about two weeks and reaching its lowest level since May [2]. - Since peaking at the end of August, Pop Mart's stock has declined approximately 38%, raising concerns about the sustainability of demand for its products [2]. Group 2: Product Details - The controversial product is the "DIMOO New Diary Series - Blind Box," which includes six regular and one hidden variant, priced at 79 yuan per box and 474 yuan for a full set [3]. - The blind box contains components such as zinc alloy pendants, polyester lanyards, resin figures, and glass/acrylic parts, but the cost of counterfeit versions is as low as 4 yuan, leading to debates about its true value [3]. Group 3: Quality Issues - Pop Mart is facing scrutiny over quality control issues, particularly with the "SKULLPANDA Dining Table Series" blind boxes, which had misprinted brand names [4]. - The affected series has been completely removed from sale, but misprinted items have seen a surge in second-hand market prices, with some items selling for significantly above their original prices [4]. - For instance, the price of the misprinted "Duality of Balance" has risen to 74 yuan, exceeding its original price of 69 yuan, and the average transaction price for a full box has increased from 691 yuan to 717 yuan, with some transactions reaching as high as 1000 yuan [4].

Core Points - Bubble Mart is facing consumer backlash due to misprinted branding on the "SKULLPANDA Dining Table Series" blind boxes, with the brand name incorrectly printed as "POP MAET" instead of "POP MART" [1] - The company has acknowledged the issue and is currently registering complaints from affected consumers but has not yet established a specific after-sales handling plan [1] - The affected blind boxes have been removed from major e-commerce platforms, and the company has not provided detailed reasons for the removal [3] Product Details - The "SKULLPANDA Dining Table Series" was launched in October 2025 and features 12 unique characters inspired by tableware, each with distinct materials and designs [3] - The blind boxes were priced at 69 yuan each, and the company has indicated that they are currently out of stock [3] Previous Issues - Bubble Mart has a history of product misprints, including a previous incident in August 2024 involving a blind box night light that had a character with a typo, leading to its removal from both online and offline sales channels [4] Financial Performance - Despite the recent issues, Bubble Mart reported strong financial performance, with a 245% year-on-year increase in overall revenue for Q3 2025, including a 185% increase in domestic revenue and a 365% increase in overseas revenue [6]