Pop Mart Profit Soars Nearly 400% As Labubu Doll Demand Surges

Benzinga

Pop Mart shares surged after the toy company reported record half-year results driven by global demand for its Labubu dolls, according to Reuters. Net profit jumped nearly 400% as overseas sales expanded, and CEO Wang Ning said the firm is on track to meet its $2.78 billion revenue goal in 2025 while projecting $4.18 billion this year. Shares rose over 12.5% in Hong Kong, reaching their highest close since the 2020 IPO. Pop Mart is now valued at $50 billion and is planning rapid U.S. store openings, new product launches, and entry into emerging markets. Executives said the long-term vision includes animated films and theme parks, though analysts warn shares may be overpriced given high business risks.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Popmart shares surged after the toy company reported record half-year results

00:06driven by global demand for its Lububu dials, according to Reuters.

00:09Net profit jumped nearly 400% as overseas sales expanded,

00:13and CEO Wang Ming said the firm is on track to meet its $2.78 billion revenue goal in 2025,

00:19overrejecting $4.18 billion this year.

00:22Shares rose over 12.5% in Hong Kong, reaching their highest close since the 2020 IPO.

00:26So, Popmart is now valued at $50 billion and is planning rapid U.S. store openings,

00:32new product launches, and entry into emerging markets.

00:35The executive said the long-term vision includes animated films and theme parks,

00:38though analysts warn shares may be overpriced given high business risks.

00:42For all things money, visit Benzinga.com.

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