Shares of Pop Mart, a toy company based in China, increased by 11% after CEO Wang Ning revealed plans to release Mini Labubu dolls. This development indicates promising growth prospects for the company.

As reported by Bloomberg on the 20th, Wang mentioned during the earnings call that Pop Mart is on track to surpass its annual revenue projections. The company intends to introduce the new Mini Labubu doll series.

Image: Reuters

The announcement led to Pop Mart’s stock reaching HK$310.60 (approximately ₩55,706) on the Hong Kong Stock Exchange, representing the most significant single-day increase in four months and achieving a peak since the firm's IPO in December 2020.

Wang stated, "Considering the global popularity of Labubu collectibles, our revenue growth has exceeded expectations. We initially set a target of CNY 20 billion (approx. ₩3.89 trillion) for annual revenue, but now CNY 30 billion (approx. ₩5.84 trillion) appears attainable." He mentioned that the Mini Labubu dolls might be launched as soon as this week.

The positive response from investors underscores the increasing interest in Pop Mart's collectibles and the potential for further international expansion.