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Investing.com-- Shares of Pop Mart International Group (HK:9992) surged on Wednesday after its chief executive said the Labubu toymaker’s annual revenue could reach well above its original target.
CEO Wang Ning said on an analyst call that the company is on track to beat its 2025 revenue goal of 20 billion yuan and could comfortably exceed that level, potentially reaching more than $4 billion.
Hong Kong-listed shares of the company jumped more than 8% to HK$305, their highest level ever. The company was listed in Hong Kong in August 2024.
The upbeat outlook followed Pop Mart’s earnings on Tuesday, when the company reported a near 400% jump in first-half net profit and a 204.4% rise in revenue.
Sales of its popular “The Monsters” series, led by the Labubu character, reached 4.81 billion yuan, accounting for more than a third of total revenue. Other key lines, including “Molly” and “Crybaby,” each generated over 1 billion yuan in sales.
Labubu has become a viral cultural icon with its “ugly-cute” dolls drawing major celebrity endorsements, spawning a lucrative resale market for rare editions.
Wang said Pop Mart plans to open 10 additional stores in the United States this year and expand into the Middle East, Central Europe and Latin America.