Chinese toymaker Pop Mart International Group said first-half net profit jumped 396% to 4.57 billion yuan (US$636 million) as revenue rose 204% to 13.88 billion yuan, comfortably beating the guidance it issued last month. The earnings surge was disclosed in results released in Hong Kong on 19 August. The performance was driven by runaway global demand for the company’s sharp-toothed, pointy-eared Labubu plush toys, sold largely through ‘blind box’ mystery packs. Labubu, classified under Pop Mart’s “The Monsters” intellectual property, generated 4.81 billion yuan, or roughly 35% of group revenue. Overseas sales contributed 40% of total turnover, with revenue in the Americas soaring more than ten-fold and Asia-Pacific ex-China up 258%. Pop Mart’s Hong Kong-listed shares have climbed more than 200% this year and briefly broke HK$298 after the results, lifting the company’s market value to about HK$400 billion—surpassing traditional rivals such as Mattel and Sanrio. Chief Executive Officer Wang Ning told analysts the group is on course to exceed 30 billion yuan in revenue for 2025 and expects daily Labubu sales to top 10 million units from September. The Beijing-based firm operates 571 retail outlets and 2,597 automated ‘robot shops’ in 18 countries and plans to open about 100 additional stores outside mainland China this year. While Chinese regulators have called for tighter oversight of blind-box marketing to children, analysts say Pop Mart’s higher-margin overseas channels and expanding intellectual-property portfolio continue to underpin its rapid growth trajectory.