Shares in the Chinese toy manufacturer, Pop Mart, increased by 11% following CEO Wang Ning's announcement of the upcoming Mini Labubu doll release, highlighting promising growth prospects for the company.

Bloomberg reported on the 20th that during an earnings briefing, CEO Wang expressed optimism that Pop Mart might surpass its annual revenue goals and revealed plans to introduce a new series of Mini Labubu dolls.

Image: Reuters

In the wake of the announcement, Pop Mart's stock price surged to HK$310.60 (about ₩55,706) on the Hong Kong Stock Exchange, achieving its most significant single-day increase in four months and reaching the highest point since the company's IPO in December 2020.

Wang remarked, "With the global enthusiasm for Labubu collectibles, even I couldn’t forecast our revenue growth precisely. Initially, we targeted annual revenue of CNY 20 billion (about ₩3.89 trillion), but now CNY 30 billion (about ₩5.84 trillion) seems attainable." He also noted that the Mini Labubu dolls might become available as soon as this week.

The enthusiastic response from investors indicates an increasing interest in Pop Mart’s collectible items and suggests the potential for further international market expansion.