In a significant development for the Chinese toy industry, Pop Mart, known for its collectible toys, experienced an impressive 11% surge in its stock value. This leap followed CEO Wang Ning's announcement of a new series of mini Labubu dolls, which suggests promising growth prospects for the brand.

As reported by Bloomberg on the 20th of this month, during Pop Mart's earnings call, CEO Wang expressed optimism about surpassing the annual revenue projections. He unveiled plans to introduce the mini Labubu doll series, a move expected to further elevate the company's market position.

Photo: Reuters

In the wake of this announcement, Pop Mart’s stock experienced a dramatic increase, reaching HK$310.60 (approximately ₩55,706) on the Hong Kong Stock Exchange. This represents the most substantial single-day increase in four months and marks a new peak since the company went public in December 2020.

CEO Wang remarked on the unexpected success of the Labubu collectibles craze, admitting that the company’s revenue growth had surpassed his initial expectations. He stated, “At the year's start, we had set a target for an annual revenue of CNY 20 billion (around ₩3.89 trillion), but achieving CNY 30 billion (approximately ₩5.84 trillion) now seems quite feasible.” He also hinted that the release of the mini Labubu dolls could occur as soon as this week.

The vigorous investor reaction highlights a burgeoning interest in Pop Mart's products and underscores the potential for continued expansion into international markets.