In a remarkable turn of events, shares of the Chinese toy manufacturer, Pop Mart, experienced a significant surge of 11%. This uptick followed CEO Wang Ning's declaration regarding the impending launch of the mini Labubu dolls. The announcement has invigorated expectations surrounding the company's future growth trajectory.

As reported by Bloomberg on the 20th, local time, Wang Ning revealed during the company's earnings report that Pop Mart is on track to surpass its annual revenue projections. In alignment with this optimistic outlook, the company is poised to introduce the new mini Labubu doll series to the market.

Photo Credit: Reuters

With the unfolding of this news, Pop Mart's stock experienced a sharp ascent, climbing to HK$310.60 (approximately ₩55,706) on the Hong Kong Stock Exchange. This surge represents the most substantial single-day gain observed in four months and marks the highest stock price since the company made its public debut in December 2020.

Wang Ning expressed that "In light of the worldwide fascination with Labubu collectibles, even I was taken aback by our revenue growth." Initially targeting an annual revenue of CNY 20 billion (approximately ₩3.89 trillion), the company now sees CNY 30 billion (approximately ₩5.84 trillion) as a tangible target. He further indicated that the mini Labubu dolls might be available for purchase as early as this week.

This vigorous response from investors underscores a burgeoning interest in Pop Mart's collectibles and suggests a promising potential for the brand's continued growth on the international stage.