Shares of POP MART International Group, a leading Chinese toy maker, soared nearly 20% in Hong Kong trading on Wednesday, fueled by the company's impressive third-quarter revenue growth and positive outlook for the year.
The Beijing-based company, known for its popular "mystery box" toys, reported a remarkable surge in its third-quarter revenue, which more than doubled compared to the same period last year. According to POP MART's guidance, its third-quarter revenue rose between 120% to 125% year-over-year, driven by strong sales growth in Hong Kong, Macau, Taiwan, and overseas markets.
Notably, the company's sales in these regions jumped a staggering 440% to 445%, surpassing analysts' already high expectations. This outstanding performance prompted Nomura analysts Jizhou Dong and Riley Jin to suggest that POP MART is likely to exceed its full-year sales guidance of 60% growth.
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