What Gu Ming does

Gu Ming (古茗茶饮) is a Chinese freshly-made tea beverage brand founded in 2010 in Daxie town, Wenling, Zhejiang province, and now publicly listed on the Hong Kong Stock Exchange (hkg:1364) since 2025. The company operates exclusively through a franchise model with over 13,000 stores across 17 provinces and 230+ cities as of December 31, 2025, serving mass-market consumers with fruit teas, milk teas, coconut-based beverages, Longjing tea series, and a freshly-ground coffee line. In 2025, the brand reported 19 billion cups sold and 200 million+ registered members on its proprietary WeChat mini-program.

The core product platform is anchored by a vertically integrated supply chain that includes 24 self-built cold chain warehouse bases enabling bi-daily nationwide replenishment, a self-operated lemon cultivation base in Xishuangbanna, Yunnan, a dedicated fruit procurement center in Hangzhou, and an in-house logistics fleet. A super 100-person R&D team operates from professional-grade laboratories and oversees a 6-step quality inspection process, supporting bi-weekly new product introductions. Digital infrastructure comprises two proprietary WeChat mini-programs: 'Guming Tea Ordering' (古茗茶饮点单) for consumer ordering/membership and 'Guming Franchise House' (古茗加盟之家) for franchisee recruitment.

Gu Ming's revenue model combines franchise-related fees (initial franchise fee of ¥98,800 split over 25 months, annual brand cooperation fee of ¥18,800, operations service fee of ¥30,000, training service fee of ¥25,000, and store opening service fee of ¥25,000), equipment and supply sales to franchisees (coffee machines ~¥80,000 with 24-month interest-free installments; total equipment package ~¥130,000; initial ingredient inventory ¥20,000–40,000), and ongoing raw material supply to the franchise network. End consumers are acquired through a digital-first WeChat ecosystem (mini-program, public account, Douyin, Weibo, Xiaohongshu) supplemented by franchisee-driven local marketing. The company's franchisee pipeline is funneled exclusively through the Guming Franchise House mini-program with on-site interviews in Hangzhou and ongoing operational support.

Name

Gu Ming

Legal name

古茗科技集团有限公司

Website

https://gumingnc.com

Company type

Public

Founded year

2010

Operating status

Ipo

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Specialty Tea Beverages

NAICS

Specialty Food Retailers (4452), Coffee and Tea Manufacturing (311920)

SIC

Retail-Eating & Drinking Places (5810)

akta.pro primary industry

Coffee Chains & Franchise Cafes (THAFADAB)

akta.pro secondary industry

Coffee, Tea & Cocoa Beverage Wholesale (AFAIAGAD)

Keywords

• Bubble tea chain
• Tea beverage franchise
• Fresh fruit tea
• Cold chain logistics
• Specialty coffee beverages

Headquarters

HQ city

Wenling

HQ country

China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Franchise Fees and Royalties: Initial franchise fee of ¥98,800 (split payments over 25 months), annual brand cooperation fee of ¥18,800, operations service fee of ¥30,000, training service fee of ¥25,000, and store opening service fee of ¥25,000. Recurring revenue from franchisee network operations.
2. Equipment and Supplies Sales: Sale of coffee machines (¥80,000 with 24-month interest-free installment), general equipment (¥130,000 total, ¥80,000 first year), and initial ingredient inventory (¥20,000-40,000) to franchisees. Ongoing revenue from supplying raw materials to franchise network.
3. Store Operations Revenue: 13,000+ franchised stores generating product sales to end consumers. The company supplies ingredients and materials to franchisees while franchisees sell beverages to consumers.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels7 records

Core offering

Gu Ming (古茗茶饮) operates a franchise-based fresh tea beverage chain, selling bubble tea, fruit tea, Longjing tea, coconut drinks, and freshly ground coffee through more than 13,000 franchised stores across 17 provinces and 230+ cities in China. The company differentiates through a self-built cold chain logistics system delivering "two-day replenishment" nationwide, an over-100-person R&D team, a six-stage quality inspection process, and proprietary digital platforms including the Gu Ming Tea Ordering mini-program with 200M+ registered members. Revenue is generated from franchise fees and royalties, sale of equipment and raw materials to franchisees, and ongoing operational service fees.

Product overview

Gu Ming (古茗茶饮) is a Chinese tea beverage brand that operates as a unified franchise model. The core offering consists of freshly made tea beverages including fruit teas (果茶系列), coconut series (椰椰系列), Longjing tea series (龙井系列), and freshly ground coffee (现磨咖啡). The company differentiates through self-built cold chain logistics supporting '两天一配' (two-day delivery) service, a super 100-person R&D team, and digital platforms including the proprietary '古茗茶饮点单' ordering mini-program and the '古茗加盟之家' franchise recruitment mini-program. The product portfolio spans seasonal new products and multiple beverage categories, unified by the brand's focus on fresh ingredients, quality control with 6 inspection procedures, and national coverage through 24 warehouse bases.

Differentiator

Problem solved

Functional benefit

Products and services

• Gu Ming Tea Beverages (古茗茶饮)
• Fruit Tea Series (果茶系列)
• Coconut Series (椰椰系列)
• Longjing Series (龙井系列)
• Freshly Ground Coffee (现磨咖啡)
• Gu Ming Tea Ordering Mini-Program (古茗茶饮点单小程序)
• Guming Franchise House Mini-Program (古茗加盟之家小程序)

Quantifiable outcome

• 19 billion cups sold in 2025
• +3 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Scale indicators9 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Mixue (蜜雪冰城): Mixue is China's largest bubble tea and ice cream chain by store count (36,000+) and HKEX-listed in early 2025. Operates a similarly franchise-led, supply-chain-heavy model targeting mass-market consumers with low-price positioning—directly comparable to Gu Ming in product, model, and customer.
• ChaPanda (茶百道): ChaPanda is a mid-tier new-style tea chain with thousands of stores across China and HKEX-listed. Competes head-to-head with Gu Ming in fruit tea and milk tea categories, using a comparable franchise-led model with similar mass-market price positioning.
• HEYTEA (喜茶): HEYTEA pioneered the premium new-style tea category and operates a mix of company-owned and franchised stores across China. While more premium-priced, it competes for the same consumer occasions and product innovation cycle as Gu Ming's fruit tea and milk tea lines.
• Nayuki Holdings (奈雪的茶): Nayuki is a premium tea chain listed in Hong Kong, operating tea-and-bakery concept stores. Direct comparable to Gu Ming on product format and Chinese tea beverage market, differentiated mainly by premium positioning and largely self-operated store model.
• Auntea Jenny (沪上阿姨): Auntea Jenny is a fast-growing Chinese new-style tea chain with thousands of franchised stores focused on affordable fruit tea. Closely comparable to Gu Ming on target demographic, franchise model, and core fruit tea and milk tea offerings.
• CoCo都可: CoCo is an established global bubble tea chain with thousands of stores across China and overseas. Directly comparable to Gu Ming on product (milk tea, fruit tea), franchise model, and price tier; competes in the same mass-market segment.

Emerging players

• Chagee (霸王茶姬): Chagee is a rapidly scaling Chinese tea chain that recently listed in the US, with strong tea-focused positioning and growing international footprint. Comparable to Gu Ming on tea beverage focus and franchise-led growth, though differentiated by more premium brand positioning.
• Cha Yan Yue Se (茶颜悦色): Cha Yan Yue Se is a Chinese tea beverage brand known for its Chinese-style tea positioning and strong regional presence in central China. Comparable on product and brand-led differentiation, though smaller in scale and more regionally concentrated than Gu Ming.

Broad incumbents

• Luckin Coffee (瑞幸咖啡): Luckin is China's largest coffee chain by store count (20,000+) with a digital-first, mass-market model. While focused on coffee rather than tea, it overlaps with Gu Ming on franchised/DTC hybrid distribution, WeChat-based ordering, and aggressive unit economics-driven expansion in China.

Regional players

• Gong Cha (貢茶): Gong Cha is a Taiwanese-origin bubble tea chain with significant presence in Asia-Pacific markets. Comparable product and franchise model to Gu Ming, but primarily competes outside mainland China and represents a potential benchmark for any future Gu Ming international expansion.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds3 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Gu Ming