Investors cheered Hong Kong-listed toymaker Pop Mart International Group’s moves to revamp its management and accelerate overseas expansion, even as US tariffs and geopolitical tensions cloud the prospects of Chinese companies looking to go global.
The Beijing-based company’s shares rose 3.5 per cent to close at HK$164.70 on Tuesday, adding to the 6.4 per cent gain a day earlier after its Wang Ning, CEO and group chairman, said in a memo to employees that the company would set up regional headquarters in Greater China, the Americas, Asia-Pacific and Europe as part of its bid to become an international company.
Meanwhile, Justin Moon, a former senior vice-president, will join Sid Si as co-chief operating officer, according to an organisational chart seen by the Post. Moon will oversee efforts in Asia-Pacific and Europe, while Si will spearhead markets in Greater China and the Americas.
“We hope this structural upgrade will serve as a starting point to drive the growth of our organisation, as we work together to strive upwards and look outwards, transforming Pop Mart into a truly global enterprise,” Wang said in his memo on Monday, adding that overseas revenue now accounts for nearly 40 per cent of the total.
Pop Mart’s shares have risen 81 per cent this year, following a 370 per cent surge in 2024.