Guming Holdings Ltd., a leading bubble tea chain operator, has successfully passed its Hong Kong listing hearing, marking a significant step toward its planned initial public offering (IPO). This achievement clears the final major regulatory hurdle, according to the Hong Kong Stock Exchange.
In a post-hearing document filed on Sunday, Guming revealed a revenue of 6.44 billion yuan ($878 million) for the first three quarters of the previous year, reflecting a 15.6% year-on-year growth. The company also reported a profit increase of 11%, totaling 1.1 billion yuan, and operated 9,778 stores as of September.
Guming is set to become the third Mainland Chinese bubble tea brand to list on the Hong Kong Stock Exchange, joining Nayuki (2150.HK) and Chabaidao (2555.HK). Other notable players in the industry, such as Mixue and Auntie Jenny, have also applied for listing, with their applications still under review.
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