Gu Ming passed the listing hearing

Chinese milk tea chain Gu Ming passed the listing hearing in Hong Kong. 

The Sequoia Capital China-backed company, known as GoodMe in English had 9,823 stores as of last November, and generated a gross merchandise value, or GMV, of 19.2 billion yuan (HK$20.39 billion) in 2023, representing an increase of 37.2 percent from 2022.

It is China’s largest mid-priced freshly-made tea store brand and the second largest freshly-made tea store brand across all price ranges, in terms of both GMV in 2023 and store count as of December 31, 2023.

(June Chen)