On December 11th, the Hong Kong Special Administrative Region High Court made an important ruling in the intellectual property lawsuit between X-SPOT GLOBAL LIMITED (plaintiff) and Huobi Global Limited (defendant). The plaintiff X-SPOT GLOBAL LIMITED successfully applied for a temporary injunction against the defendant to prevent them from using the "Huobi" trademark or any confusingly similar name or logo during the litigation trial in Hong Kong. The core of the case involves the plaintiff's trademark rights. The Hong Kong High Court ruled that the plaintiff's trademark rights should be protected and the defendant's actions constituted infringement of the plaintiff's trademark rights.
In June 2023, X-Spot Limited, controlled by Li Lin, sued Huobi Global Limited for trademark infringement in the Hong Kong Special Administrative Region High Court. The complaint stated that X-Spot Limited has always retained exclusive rights to the "Huobi" trademark, and Huobi Global Limited has been using the trademark without authorization from X-Spot. When the original shareholders transferred their Huobi global station shares to About Capital Management, they explicitly agreed to retain the exclusive rights to the "Huobi" trademark and ensure that these rights would not be transferred to the buyer or Huobi. The equity transfer and asset delivery agreement between the two parties explicitly prohibits the buyer from using the "Huobi" trademark and brand.