Chinese toymaker Pop Mart said demand for its toothy, point-eared Labubu dolls will propel first-half 2025 revenue to at least RMB13.7 billion (US$1.9 billion) and lift adjusted net profit by no less than 350 percent to around RMB4.5 billion. The company credited rising global brand recognition and tight cost controls for the jump, noting that overseas markets already account for nearly 40 percent of sales and U.S. advertising outlays doubled in the latest quarter. Labubu has become the industry’s breakout hit: the US$30 blind-box toys routinely sell out within minutes and can fetch five-figure sums at auction. Pop Mart says monthly output could reach 10 million units from September, helped by celebrity endorsements and a social-media-driven unboxing culture that recalls the Beanie Baby craze of the 1990s. Investors have ridden the frenzy. Pop Mart’s Hong Kong–listed shares have surged roughly 600 percent over the past year, lifting its market value to about US$40 billion and pushing founder Wang Ning’s fortune to an estimated US$20 billion. The stock nevertheless fell more than 6 percent after the company issued its bullish forecast, as analysts questioned whether growth can keep pace with lofty valuations and potential regulatory tightening of ‘mystery box’ sales to minors. Management is moving to protect—and extend—the franchise. The firm has applied to trademark “Lafufu,” a popular nickname for knock-offs, and has sued 7-Eleven in the United States for allegedly selling counterfeit figures. A new Labubu line is scheduled for October, and Wang said several film studios have expressed interest in adapting the character for the screen.