Guming Holdings Limited is a fast-growing freshly-made beverage company in China. The Group 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.

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The Group primarily operate under a franchise model under “Good me” brand. The Group stores offer three categories of beverages: fruit tea beverages, milk tea beverages, and coffee beverages and others. The Group focus on the mid-priced segment of China’s freshly-made tea store market and its product offerings’ prices remained relatively stable, typically between RMB10 and RMB18.

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The Group have steadily expanded its store network under what it refers to as the regional densification strategy. The Group's store network expanded to 9,778 stores as of September 30, 2024. The Group’s customers are primarily its franchisees who operate its franchised stores and also include enterprise customers that purchase the products from its processing facilities such as blended tea leaves. The Group’s generate revenue mainly from the sales of goods and equipment and the provision of services to its franchisees.