Pop Mart stock rose 3% at one time to record high of HK$251.8. In response to the soaring popularity of IPs like Labubu, POP MART is clearly adhering to a strategy of long-term IP operation, strictly controlling the pace of new releases, collaborations and product launch to avoid depleting IP value, Huatai Securities published a research report saying.

The broker believed that POP MART's advantage lies in its multiple innovations and linkage in IP design, category carrier and marketing activities, rather than relying on a single element, thereby supporting the sustainable operation of classic IPs.

Si De, POP MART's Executive Director, Vice President, and COO, recently spoke at a university in China. When mentioning the LABUBU craze, he said that the company was both excited and anxious as it had to rapidly ramp up its monthly production capacity from 200,000 units to five and even 10 million units within just six months.

Throughout this process, Si revealed that POP MART had to ensure quality, capacity, and delivery, while persuading suppliers to expand production since they generally prefer a stable production pace. In addition, the company implemented even stricter content reviews for all LABUBU products, including collaborations and other aspects, to ensure that every product met world-class standards in design, aesthetics, and quality.

The IP doll "Labubu" under POP MART is selling like hot cakes across the globe, boosting the wealth of the company's founder, Wang Ning.

According to Forbes' real-time billionaire data, the wealth of Wang, born after 1985, whopped USD20.3 billion (approximately HKD158.34 billion), winning over Qin Yinglin, the founder of Muyuan Foodstuff, who is also based in Henan, with a wealth of USD16.3 billion (approximately HKD127.14 billion), making Wang the new richest person in Henan.