SINGAPORE] Chinese toymaker Pop Mart International Group expects the soaring global popularity of its Labubu plush toys to drive a threefold increase in first-half revenue and an even bigger boost to profit.

Labubu dolls face controversy after a viral post links them to the demon Pazuzu. The claim triggered panic and misinformation online. Creator Kasing Lung drew inspiration from European fairy tales. Experts debunked the Pazuzu link.

Pop Mart founder and CEO Wang Ning became one of the 10 richest billionaires in China by net worth riding on the Labubu mania. Details here.