Shares of Pop Mart International soared nearly 20% in Hong Kong trading on Wednesday, after the Chinese toy maker reported a remarkable surge in its third-quarter revenue and provided an optimistic outlook for the year.
The Beijing-based company, known for its popular "mystery box" toys, saw its stock price climb to HK$75.00 (US$9.65) in early trading, marking its largest single-day gain since November 2022. This surge came as Pop Mart guided for its third-quarter revenue to more than double compared to the same period last year, driven by strong sales growth in Hong Kong, Macau, Taiwan, and overseas markets.
According to the company's guidance, its third-quarter revenue rose between 120% to 125% year-over-year, with sales in Hong Kong, Macau, Taiwan, and overseas markets jumping a staggering 440% to 445%. These results surpassed analysts' already high expectations, prompting 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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