Shares in Chinese toymaker Pop Mart reversed course to rise Wednesday, a day after the company posted a near-400% surge in net profit, driven by booming global demand for its Labubu dolls.
Pop Mart was trading above 8% as of 11.47 a.m. local time (11:47 p.m. ET Tuesday), after dropping as much as 4.7% at the start of the session.
Pop Mart’s revenue jumped 204.4% year on year to 13.88 billion yuan ($1.93 billion), and its net profit attributable to shareholders soared 396.5% to 4.57 billion yuan for the first six months of 2025, compared with last month’s forecast of at least 200% revenue growth and 350% rise in profit.
The Beijing-headquartered company’s Labubu plushies — sharp-toothed, big-eared ugly-cute dolls — have taken the world by storm, with its $30 keychains spotted on the bags of Rihanna and K-pop band Blackpink’s Lisa.
The company markets its toys in “blind boxes,” where buyers discover the character only after opening the mystery box.
