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.

The grinning plush elves drove record revenue for the Chinese retailer in the first half of the year, and soon fans will have something new to lust after.