Shares of Labubu maker Pop Mart surged on Friday, extending this week’s gain to 23 per cent, after its CEO appeared in a high-profile state media interview and a newly launched product went viral amid growing investor appetite for consumer stocks.
In a documentary interview released by Xinhua news agency at noon, founder and CEO Wang Ning reflected on the company’s entrepreneurial journey and outlined his long-term vision, offering rare public remarks that investors viewed as a signal of official recognition and confidence in the company’s business direction.
“Companies built around intellectual property [IP] often go through cycles, with ups and downs, but IP businesses tend to be long-lived globally,” Wang said. “We may face many cycles in the future as well, but I believe Pop Mart will grow alongside generation after generation of consumers.”
Shares of the Hong Kong-listed toymaker climbed as much as 9.2 per cent before ending the morning session up 6.5 per cent at HK$219.40, extending their weekly gain to 23 per cent.
Sentiment had already been buoyed on Thursday after a new collectible under Pop Mart’s Pucky line – an electronic “wooden fish” toy launched earlier this month that emits a crisp tapping sound when pressed – went viral on Chinese social media, highlighting the company’s strength in novelty-driven consumption.
The rally was also supported by a share buy-back programme this week. Pop Mart repurchased 1.4 million shares for a total of HK$251 million (US$32 million) on Monday, the first such move in nearly two years, according to company disclosures.
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