The Beijing-based toy maker is cashing in on the viral success of its ugly-cute dolls, as profit soars 400% in first half of the year

Shares of Chinese toy maker Pop Mart International Group Ltd. rose the most in nearly four months on Wednesday, after Chief Executive Officer Wang Ning said the company could easily surpass its annual sales projection and announced plans to launch a new mini Labubu doll.

Wang Ning, billionaire founder of Chinese toy maker Pop Mart International Group, said the company could “easily” reach 30 billion yuan ($4.2 billion) in sales this year.