Chinese company Pop Mart has posted a nearly 400% rise in half-year net profit, thanks to strong demand for Labubu figurines and international expansion.

Pop Mart, the maker of Labubu figurines, has reported an impressive 396.5% increase in net profit and 204.4% growth in revenue in the first half of the year, thanks to high demand and the transition to overseas markets. These figurines, created by artist Kasing Lung, have become a viral phenomenon, attracting the attention of celebrities and TikTok users. Pop Mart also opened 40 new stores in the first half of the year and has plans to expand.