The soaring popularity of its collectible toys, particularly the Labubu doll, is allowing POP MART to experience unprecedented growth. The company’s latest financial report is a testament to the brand’s momentum, with half-year profits increasing by nearly 400% on the strength of demand for its signature figurines.

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.