China's Pop Mart International, the maker of the virally popular Labubu dolls, saw its shares bounce on Wednesday, after indicating full year sales are likely to beat expectations.
CEO Wang Ning also announced plans to launch a new mini Labubu doll "as early as next week".
A craze for the small and furry Labubu dolls, with their pointy ears and sharp fangs, has swept the globe in recent years, helping triple Pop Mart's profits last year.
The stock climbed 12% to HK$314.8 in Hong Kong, also notching a new record high of HK$319.
Wang made the comments after interim results showed revenue surged 204% to RMB 13.88 billion ($1.9 billion) in the first half, with net profit climbing nearly 397% to RMB 4.57 billion.
"I think hitting 30 billion [RMB] this year will be easy," Wang told media in Hong Kong, a day after publishing interim results.
"In the past, Labubu figures were often seen attached to bags, but as early as next week, people [can] start attaching them to their phones."
Sales outside China and Taiwan soared fivefold to RMB5.59 billion, helped by the popularity of the dolls on social media, driven by countless influencers and celebrity fans such as Rihanna, Kim Kardashian and David Beckham.
"Our overseas business has grown even faster than we expected, and the market is bigger than we imagined," said Wang.
He told the local People’s Daily publication that he expected he expects international revenues to surpass the domestic business by the end of this year.
The company also said it is planning six new production bases worldwide, two of which will be overseas, as it is currently producing over 30 million units a month.
Profit margins are widening too, growing to 33.9% from 22.3% in the first half, and could expand to 35% this year, Wang said.