Star Toys experienced a more than 15% drop, and the licensing agreement for "Ninja Turtles" will end by the end of next year.

On December 24th, Hong Kong toy company Rainbow Toy's stock fell more than 15% at one point during trading. By the midday closing, it was at 0.435 Hong Kong dollars per share, down 14.71%, with a total market value of 510 million Hong Kong dollars. In terms of news, the company announced that, according to the current franchise agreement signed between Viacom Media Networks as the licensor and Rainbow Toy International Limited, a wholly-owned subsidiary of the group, as the licensee, PICL has been granted the rights to design, manufacture, distribute, and sell "Ninja Turtles" products. The two parties have been negotiating the renewal of the franchise agreement since October 2025, and PICL has recently received formal notice from the licensor that the franchise agreement will not be renewed after it expires on December 31, 2026.