Shares in Chinese toymaker Pop Mart saw volatile trading on Wednesday, a day after the company posted a near-400% surge in net profit, driven by booming global demand for its Labubu dolls. Pop Mart dropped as much as 4.7% before paring losses to climb above 2% as of 10.45 a.m. local time (10:45 p.m. ET Tuesday)

Lafufus are counterfeit versions of Labubus that have proliferated in the wake of the original's popularity, with everyone from street vendors to Facebook sellers either selling them outright as fakes or attempting to pass them off as originals in order to profit off the scarcity of the original.

Pop Mart CEO Wang Ning said the company, which reported a nearly 400% surge in half-year net profit driven by booming overseas demand for its Labubu dolls, is on track to hit 20 billion yuan revenue i

Pop Mart, led by CEO Wang Ning, is poised to achieve a 20 billion yuan revenue by 2025. The company, renowned for its collectible toys like the Labubu doll, reported significant profits and is venturing into new markets globally.

In a financial report released Aug. 19, Pop Mart said it has seen a net profit of 396% and a 204% jump in revenues due to Labubus.

Madonna Celebrated Her 67th Birthday With A Giant Labubu Cake originally appeared on Parade. Madonna had a huge and trendy cake to celebrate her 67th birthday on Saturday.