The World Today
MADRID, 20 (EUROPA PRESS)
Pop Mart, the Chinese company that markets Labubu plush toys, closed the first half of the year with a net profit of 4.574 billion yuan (546 million euros), which is 374% more than the profits recorded in the first half of last year, in addition to announcing the imminent launch of a mini version of its popular collectible dolls, after which its shares rose more than 12% on the Hong Kong Stock Exchange.
The Chinese company's turnover reached a total of 13.876 billion yuan (1.656 billion euros) by June, which represents more than the series that includes the Labubu.
By region, Pop Mart's revenue growth was widespread, with a 135% increase in China, to 8.283 billion yuan (989 million euros ); a 258% increase in Asia Pacific, to 2.851 billion yuan (340 million euros); while in the Americas, revenue increased 12-fold, to 2.265 billion yuan (270 million euros); and in Europe, it reached 478 million yuan (57 million euros), almost eight times more than a year earlier.
Also during its first-half earnings call, Pop Mart founder and CEO Wang Ning said he is confident the company can easily exceed its annual sales projections, and also announced plans for the imminent launch of a new miniature Labubu plush toy, Bloomberg reports.
