HK Stock Market Move | Newly listed stock GUMING(01364) surged more than 3% during trading. "GUMING" is the largest popular freshly-made tea brand in China, with nearly ten thousand stores under the company.

GUMING (01364) made its first listing, with each share priced at 9.94 Hong Kong dollars, issuing a total of 182 million shares, with 400 shares per lot, raising a net amount of approximately 1.721 billion Hong Kong dollars. The stock rose more than 3% intra-day, and as of the time of publication, it was up 0.1% at 9.95 Hong Kong dollars, with a turnover of 696 million Hong Kong dollars. Public information shows that GUMING is a leading and rapidly growing Chinese ready-to-drink beverage company, committed to providing consumers with high-quality products that are fresh, delicious, consistent in quality, and affordable. Based on gross merchandise volume (GMV) in 2023 and the number of stores as of December 31, 2023, "GUMING" is the largest popular ready-to-drink tea brand in China, and the second-largest ready-to-drink tea brand in all price segments in China. GUMING mainly operates through a franchise model, opening and operating stores under the "GUMING" brand. As of December 31, 2023, GUMING's store network includes 9,001 stores, an increase of 35.0% compared to December 31, 2022, and expanded to 9,778 stores by September 30, 2024. For the nine months ended September 30, 2024, GUMING's GMV was 16.6 billion yuan, an increase of 20.4% compared to the same period in 2023.