AsianFin -- Pop Mart executives on Wednesday highlighted robust production and revenue growth at the company’s latest earnings briefing.

Yuan Junjie, President of Pop Mart’s Supply Chain Center, said the firm’s monthly production of plush toys has surged to around 30 million units—more than ten times last year’s level—driven by automation in manufacturing.

Founder Wang Ning said the company initially targeted annual revenue of 20 billion yuan (≈ $2.8 billion) but now expects that reaching 30 billion yuan (≈ $4.2 billion) this year is achievable. “While performance growth is very important, the overall health of the company is equally critical,” Wang added.

Wang also addressed concerns about dependence on individual intellectual properties (IP) for revenue. “I don’t personally think a high contribution from one IP is unhealthy. Each IP has its own uniqueness, and that’s what matters to us,” he said.

According to the financial report, Pop Mart’s THE MONSTERS series, featuring the popular LABUBU character, generated 4.81 billion yuan (≈ $673 million) in the first half of the year, accounting for 34.7% of total revenue. Other IPs, including MOLLY, SKULLPANDA, CRYBABY, and DIMOO, each surpassed 1 billion yuan (≈ $140 million) in revenue.