Refile: Bubble tea chain Guming Holdings' half-year revenue rises on store expansion

Guming Holdings

26/08/2026 12:24

Corrects spelling of "half" in headline

Overview
China freshly-made beverage seller's interim revenue grew 31.9% yr/yr
Profit for the period declined 3.6% yr/yr
Adjusted profit rose 44.4% and adjusted core profit increased 53.3% yr/yr

Outlook
Guming plans to deploy HK$1.96 bln bond proceeds across procurement, debt refinancing, share repurchases, R&D and overseas expansion
Group expects to use HK$1.36 bln of unspent IPO proceeds by December 31, 2028 for digitalisation, supply chain and branding

Result Drivers
STORE NETWORK EXPANSION - Co said revenue growth was driven by increased store count, especially in second-tier and below cities
STABLE PER-STORE SALES - Co said per-store GMV and cup sales remained broadly stable, helped by coffee beverage offerings and breakfast expansion, partially offset by reduced food delivery subsidies
STORE QUALITY PRIORITIZATION - Co said slower pace of new store openings and more closures reflected increased focus on upgrading existing stores and stricter site-selection criteria

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
RMB 7.47 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 18 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the restaurants & bars peer group is "buy"
Wall Street's median 12-month price target for Guming Holdings Ltd is HK$31.00, about 23.1% above its August 26 closing price of HK$25.18
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 14 three months ago

Reuters Recommended Reads
Aug 25 - China's Nongfu Spring H1 revenue rises on tea beverage growth
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Press Release s3://eap-prd-eu-west-1-source-content/eap_feed_proxy/fingerpost/HKSW/2026-08-26/370e00ec-7069-4eac-b515-18496933273a.file
 (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)