HK Stock Market Move | GUMING (01364) rose more than 7% in the afternoon, with nearly thousands of GUMING stores under its brand. Institutions say there is still ample room for expansion.

GUMING (01364) rose more than 7% in the afternoon, up 6.51% as of the time of writing, at 10.8 Hong Kong dollars, with a turnover of 72.6849 million Hong Kong dollars. Public information shows that GUMING mainly operates and manages stores through a franchise model under the "GUMING" brand. It is reported that GUMING is the largest mass-produced tea beverage brand in the 10-20 yuan price range in China and the second largest in all price ranges in China. According to the company's prospectus, as of September 30, 2024, GUMING has a total of 9778 stores nationwide; in 2021, 2022, 2023, and the first three quarters of 2024, revenue from franchise stores accounted for 97.9%, 97.9%, 97.1%, and 97.2% of the total revenue, respectively. Debang Securities pointed out that in the future, the company is expected to continue to expand its store network steadily and increase market share by relying on its supply chain and product development advantages through the franchise model. The company focuses on operating mass-produced tea beverage stores, concentrating on the industry's fastest-growing second-tier and lower-tier cities. As of 2023, the mainland provinces in China that have not yet reached critical scale collectively account for 48% of the overall market for mass-produced tea beverage stores, still offering ample room for expansion.