HONG KONG/SHANGHAI >> Pop Mart chief executive Wang Ning said on Wednesday his toy company was on track to meet its targeted revenue goal of 20 billion yuan ($2.78 billion) in 2025, and that “30 billion ($4.18 billion) this year should also be quite easy.”

Wang, who founded the company in 2010, was speaking with analysts after Pop Mart announced record half-year results on Tuesday, with the makers of the ugly-cute Labubu doll reporting that net profit soared nearly 400% as demand for the toys surged, particularly in higher-margin overseas markets.

Pop Mart was the most actively traded stock by turnover on the Hong Kong exchange on Wednesday. The shares rose more than 12.5% to their highest close since making their Hong Kong debut in December 2020.

Executives also said on Wednesday that

See Full Page