In a notable market movement, stocks of the Chinese toy manufacturing giant, Pop Mart, surged by an impressive 11%. This upswing followed an announcement by the company's CEO, Wang Ning, regarding the soon-to-be-launched mini Labubu dolls, which are anticipated to significantly boost the company’s growth trajectory.

Bloomberg reported on the 20th, in local time, that during an earnings presentation, Wang Ning expressed confidence in Pop Mart's future performance, suggesting that the company is on track to surpass its yearly revenue targets. Additionally, he disclosed plans to release a new series of mini Labubu dolls, a move expected to fortify the company’s market position.

Photo: Reuters

Following the eagerly awaited announcement, the value of Pop Mart's shares ascended to HK$310.60, approximately ₩55,706, on the Hong Kong Stock Exchange. This achievement marked the most significant one-day climb in four months, setting a new record high since the company first entered the stock market in December 2020.

In his remarks, Wang Ning stated, "Given the worldwide enthusiasm surrounding Labubu collectibles, even I did not anticipate this level of revenue growth. Initially, we set our eyes on reaching CNY 20 billion, roughly ₩3.89 trillion, in annual revenue. However, meeting a target of CNY 30 billion, approximately ₩5.84 trillion, now appears to be within reach.” He further hinted at the possibility of the mini Labubu dolls debuting as soon as this week.

The robust reaction from investors underscores an escalating interest in Pop Mart's collectible items, as well as the promising prospects for the company’s continued global growth and outreach.