In a significant development for the Chinese toy market, Pop Mart's stock experienced an impressive 11% spike. This surge came after CEO Wang Ning revealed plans for the new mini Labubu dolls, a move that hints at promising growth trajectories for the enterprise.

As reported by Bloomberg on the 20th in the local timezone, CEO Wang shared insights during a recent earnings briefing, expressing optimism that Pop Mart is on track to surpass its projected annual revenue. The CEO also detailed the company's intentions to introduce the freshly conceived mini Labubu doll series.

Image: Reuters

In the aftermath of this strategic announcement, Pop Mart's valuation on the Hong Kong Stock Exchange surged to HK$310.60 (roughly ₩55,706). This marked not only the most substantial single-day increase in four months but also the highest stock value since the company's IPO in December 2020.

Reflecting on the widespread enthusiasm for Labubu collectibles, Wang remarked, “The global frenzy for our Labubu items has even surpassed my expectations for revenue growth. Initially, we set our sights on an annual revenue goal of CNY 20 billion (around ₩3.89 trillion), yet reaching CNY 30 billion (approximately ₩5.84 trillion) now seems within reach.” He further mentioned that the mini Labubu dolls might debut as soon as this week.

The vigorous investor reaction underscores the mounting excitement surrounding Pop Mart's collectible offerings, coupled with the promising opportunity for continued international market expansion.