Guming Holdings IPO Propels Founder Yun’an Wang to Billionaire Status

The Hong Kong-based bubble tea company's $233 million public offering highlights China's booming demand for the popular beverage.

Yun’an Wang, founder of Guming Holdings, has become a billionaire with a net worth of $1.2 billion following the company's Hong Kong IPO.
The IPO raised $233 million, selling 182.4 million shares at HK$9.94 each, with shares initially rising by 4.6% before stabilizing.
Guming Holdings, operating under the 'Good Me' brand, has grown to nearly 10,000 stores across China since its founding in 2010.
The bubble tea market in China, valued at $9.6 billion in 2018, is projected to reach $71 billion by 2028, driven by strong consumer demand.
Despite its success, Guming faces intense competition in a market characterized by price wars and limited product differentiation.