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Guming holdings are mainly engaged in the production and sale of beverages prepared. The company mainly opens the store and works under the brand name ‘The Good Me’ through a franchise model. It was included in 2010.
Yun Wang is the newest billionaire in China.
The bubble tea industry is booming with many private players in China, who is very rich and feeding the opportunity. One such case that caught the eye was Yunan Wang who became the new billionaire in the country. On Wednesday, his assets in the form of stockholding were skyrocketed after his company list at Hong Kong Exchange.
Wang Hangzo president and CEO, the company with Zhejiang-Mukhyamayalaya, is Guming Holdings. According to a Forbes report, Wang’s fate posts about $ 1.2 billion (or Rs 10,426 crore) launch of IPO.
Who is Yunan Wang,
According to a report by Forbes, Wang opened the first guming store at his hometown Daxi in Jhejiang province in 2010 after graduating with a bachelor’s degree in Engineering from Zijiang Science-Tech University.
Guming Holdings sells 182.4 million shares in IPO
Guming Holdings brought out 182.4 million shares to HK $ 9.94 each and brought its initial public offering (IPO). The retail of the IPO was oversabs 195 times.
However, the list of IPOs on the Hang Song Index was lukewarm at HK $ 10. After the debut, HK in shares fell as low as $ 8.93, which reflects booking profit by investors.
Guming first increased the number of shares for sale in the IPO after strong demand from the investor side.
Guming holdings run on franchise models
Guming holdings are mainly engaged in the production and sale of beverages prepared. The company mainly opens the store and works under the brand name ‘The Good Me’ through a franchise model. It was included in 2010.
It sells milk-chi material and charges a training fee to its franchise.
For the first nine months of 2024, the revenue of guming holdings increased from 15.6% year-on-year to 6.4 billion yuan. On the profit front, it was 1.1 billion yuan, which was 11.8 percent from the same period a year ago.
Gud Mei of Gud Me is a 9.1 percent market dominance by the end of 2023, one of the top brands in the bubble tea industry, followed by 20 percent of the leader Mix.
