New stock information | Gu Ming undergoes a hearing at the Hong Kong Stock Exchange, the largest popular instant tea shop brand in China.

According to information disclosed by the Hong Kong Stock Exchange on January 12, Guming Holdings Limited (hereinafter referred to as Guming) has appointed Goldman Sachs and UBS Group as its joint sponsors through the Hong Kong Stock Exchange listing hearing. The prospectus shows that Guming is a leading and fast-growing Chinese ready-to-drink beverage company, committed to providing consumers with high-quality products that are fresh, delicious, consistent in taste, and affordable. Based on the gross merchandise volume (GMV) in 2023 and the number of stores as of December 31, 2023, Guming is the largest mass-market ready-to-drink tea beverage brand in China and the second largest ready-to-drink tea beverage brand in China across all price segments. In 2023, Guming's GMV was 19.2 billion yuan, an increase of 37.2% from 2022. As of September 30, 2024, for the nine months ending that date, Guming's GMV was 16.6 billion yuan, an increase of 20.4% from the same period in 2023. As of September 30, 2024, Guming has established a presence in 17 provinces across the country and will continue to increase the density of its store network. Additionally, there are still 17 provinces where Guming has not yet entered, which collectively provide ample room for the company's growth. As of December 31, 2023, Guming's store network covered 9,001 stores, an increase of 35.0% from December 31, 2022, and expanded to 9,778 stores as of September 30, 2024. Guming mainly operates under a franchise model, opening and operating stores under the Guming brand. The stores mainly sell three types of beverages: fruit tea beverages, milk tea beverages, and coffee beverages, among others. Financially, Guming achieved revenues of approximately 4.384 billion yuan, 5.559 billion yuan, 7.676 billion yuan, and 6.441 billion yuan for the fiscal years 2021, 2022, 2023, and the nine months ending September 30, 2024, respectively. The profits for the periods were approximately 23.992 million yuan, 3.72 billion yuan, 10.96 billion yuan, and 11.2 billion yuan respectively.