Latest news with #GumingHoldings
Mint
22-05-2025
- Business
- Mint
China's Gen Z Stocks Build on Gains as Baiju Makers Stumble
China's so-called new consumer stocks are on a tear. Bubble tea maker Mixue Group jumped as much as 4.7% during intraday trading Thursday, while rival Guming Holdings rose more than 5% at its high. The moves defied a wider lull in Hong Kong's stock market, compounding gains for investors who have bet on Generation Z consumption — an increasingly popular play. Investors are on a feeding frenzy for brands that have appeal to the younger generation, lifting a varied group of shares seen as new consumption plays. That is hurting demand for the shares of companies selling old-fashioned consumer staples, including the makers of hard liquor. The recent gains mean Mixue's market capitalization is now around $27 billion, putting it above that of Luzhou Laojiao Co., one of China's major distillers. The shift followed the bubble tea maker's 170% jump since its initial public offering in February, a move that has helped fuel interest in other listings now in the pipeline. The combined market value of five of the top sellers of boba drinks, including recently-listed companies Auntea Jenny Shanghai Industrial Co. and Chagee Holdings, totaled almost 290 billion yuan as of Wednesday. That is over half the size of Wuliangye Yibin Co., China's second largest distiller and one of the largest stocks onshore. Read: Gen Z's 'Emotional Consumption' Fuels Wild Stock Moves in China Recent government directives reining in the consumption of alcohol at official receptions have dealt a blow to the sector. Luzhou Laojiao's share price has fallen more than 3% since a Sunday notice telling officials to watch their spending on alcohol and cigarettes. Shares of Kweichoi Moutai Co., China's biggest liquor maker, have lost around 2% this week. This article was generated from an automated news agency feed without modifications to text.
Bloomberg
22-05-2025
- Business
- Bloomberg
China's Gen Z Stocks Build on Gains as Baiju Makers Stumble
China's so-called new consumer stocks are on a tear. Bubble tea maker Mixue Group jumped as much as 4.7% during intraday trading Thursday, while rival Guming Holdings rose more than 5% at its high. The moves defied a wider lull in Hong Kong's stock market, compounding gains for investors who have bet on Generation Z consumption — an increasingly popular play.
South China Morning Post
08-05-2025
- Business
- South China Morning Post
Auntea Jenny shares jump 68.5% in Hong Kong trading debut as traders pile into city's IPOs
Shares of Chinese bubble-tea chain Auntea Jenny surged by two-thirds in their Hong Kong trading debut on Thursday, adding to the investor enthusiasm for the sector and a stronger start for new listings this year amid supportive policies. Advertisement The shares first changed hands at HK$190.60, a jump of 68.5 per cent from the initial public offering (IPO) price of HK$113.12 when trading began at 9.30am local time. The broader Hang Seng Index advanced by 0.02 per cent. The Shanghai-based firm raised HK$272.8 million (US$35 million) of gross proceeds by selling 2.4 million shares to investors, pricing the IPO at the top end of the HK$95.57 to HK$113.12 range, according to stock exchange filings. Retail investors in Hong Kong submitted orders for nearly 3,617 times the shares allocated to them after they borrowed more than HK$94 billion from brokerages to bid for the IPO. Bids from global funds reached 2.57 times. 'The listing is not merely a new starting point for [our] development, but also the beginning of an existential journey to fulfil our mission,' said Shan Wei-jun, the co-founder and chairman of Auntea Jenny, during the listing ceremony at the stock exchange. 'It is not only a strong affirmation of past struggles, but also a solemn commitment to the future.' Advertisement It will be the third mainland tea drink maker to debut in Hong Kong this year, following the HK$3.45 billion listing of Mixue Group in March and the HK$1.8 billion share sale by Guming Holdings in February. Another tea firm, Chagee, raised US$411 million with a Nasdaq listing in New York last month.
South China Morning Post
12-02-2025
- Business
- South China Morning Post
China's Mixue seeks US$500 million in Hong Kong IPO after Guming's success
Chinese bubble tea maker Mixue Group plans to raise about US$500 million from its Hong Kong initial public offering (IPO) after peer Guming Holdings completed a US$232 million upsized share sale in the city. Mixue, China's largest freshly made drinks firm, would begin book-building by the end of this month and list on the Hong Kong stock exchange in early March, according to Reuters on Tuesday, which cited sources. Mixue, which has more than 40,000 stores in mainland China and overseas, received approval from the China Securities Regulatory Commission on January 7, reversing a freeze on the firm's listing plan. While Mixue and Guming had applied to list in Hong Kong in 2024, their applications lapsed after six months as they did not receive regulatory approval. Chinese regulators were concerned about the firms' prospects after the shares of peer Sichuan Baicha Baidao plunged 27 per cent on debut last April following a US$330 million IPO. Mixue plans to use the IPO proceeds to expand production facilities and enhance its brand and marketing, according to its exchange filing. The company's profit surged 45.2 per cent year on year to 3.5 billion yuan (US$478.96 million) in the first nine months of last year. Guming Holdings' listing ceremony at the Hong Kong stock exchange on Wednesday. Photo: Aileen Chuang
Yahoo
05-02-2025
- Business
- Yahoo
Chinese bubble-tea giant Guming targets US$200 million in Hong Kong IPO
Chinese bubble tea drinks company Guming Holdings aims to raise up to HK$1.58 billion (US$202 million) from a Hong Kong initial public offering (IPO), the first in the Year of the Snake. Guming said in an exchange filing on Tuesday that it was offering 158.6 million shares in a price range of HK$8.68 to HK$9.94 each. The final price will be decided by Friday and the stock will debut on February 12. The company, which sells under the Good me brand, was China's largest mid-priced freshly made beverage seller by gross merchandise value (GMV) and store count in 2023. In the first nine months of 2024, GMV surged 20 per cent year on year to 16.6 billion yuan (US$2.3 billion), while its store network grew 8.6 per cent to 9,778. Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team. Guming's profit rose 11.8 per cent year on year to 1.1 billion yuan in the first nine months of last year, surpassing the full-year profit in 2023, according to its filing. Lunar New Year celebrations at the Hong Kong stock exchange on the first trading day of the Year of The Snake on Tuesday. Photo: Edmond So alt=Lunar New Year celebrations at the Hong Kong stock exchange on the first trading day of the Year of The Snake on Tuesday. Photo: Edmond So> The IPO has attracted five cornerstone investors that have invested a total of US$71 million. Huang River Investment, a wholly owned subsidiary of Tencent Holdings, has invested US$25 million. Guming plans to use the IPO proceeds to strengthen its information technology team and digitalise its business management and store operations. The company said it expected to recruit IT talent for the next four years up to 2028, adding 100 staff a year in that space. It also said it would hire nearly 500 employees for franchise management. The company said it would also use the funds to enhance supply chain capabilities, branding and consumer engagement efforts and for other general corporate purposes. Goldman Sachs and UBS are the joint sponsors of the deal. Guming's previous IPO application lapsed in 2024 after six months of waiting for regulatory approval. The China Securities Regulatory Commission approved the company's Hong Kong IPO plan in December, as China shifted its focus to stimulating its economy. Companies in the consumer industry were expected to be a bright spot in Hong Kong's new share listings this year, according to deal makers. The city ranked fifth on the global IPO league table last year, after plodding on with small deals through the halfway mark when it ranked 13th, a two-decade low. Bourse operator Hong Kong Exchanges and Clearing received 30 IPO applications in January, including seven "A+H" applications - companies already listed in mainland China, chairman Carlson Tong Ka-shing said on Monday. The total A+H applications that were under processing stood at 10. This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2025 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2025. South China Morning Post Publishers Ltd. All rights reserved. Sign in to access your portfolio
