Guming releases 2025 performance: total store GMV reaches 32.7 billion yuan

On March 25, 2025, Guming released its 2025 annual results report, with the number of stores, performance per store, and revenue and profits all showing steady growth.

The financial report shows that in 2025, Guming achieved total revenue of approximately RMB 12.9 billion, up 46.9% year over year; adjusted profit (measured under non-IFRS) of approximately RMB 2.575 billion, up 66.9% year over year.

As of the end of 2025, Guming had 13,554 stores, net adding 3,640 stores compared with the end of 2024. By continuously focusing on its core-advantage regions, Guming further enhanced store coverage density and brand influence in lower-tier markets. The financial report shows that Guming’s store network covers more than 200 different-tier cities across China; stores in second-tier and lower cities account for 82% of the total number of stores. The share of stores in towns has grown to 44%, further deepening its layout in China’s lower-tier markets.

Customers purchase beverages at Guming stores

In 2025, Guming continued to improve its store operating performance. Average daily GMV per store reached approximately RMB 7,800, and total store GMV for the full year reached RMB 32.732 billion, up 46.1% year over year.

On the product front, Guming continued to increase investment in product research and development. In 2025, it launched 106 new products and made major progress in the coffee category. As of December 31, 2025, more than 12,000 Guming stores had coffee machines, and during the year it launched 27 new coffee beverage products.

In 2025, Guming launched 27 new coffee beverage products

Guming’s beverages are also widely favored by consumers and have received strong praise. As of December 31, 2025, the number of registered members of Guming’s mini program had reached approximately 206 million, and quarterly active members numbered approximately 52 million.

Behind the fresh, great-tasting, high-quality and affordably priced products is Guming’s supply-chain capability that it has continued to invest in over more than a decade. Guming manages its supply chain by using its own cold-chain warehousing and logistics infrastructure to store and transport beverage ingredients with shorter shelf lives—such as fresh fruit, tea leaves, and fresh milk—and by setting detailed standards for each stage, from procurement of supplies to processing of ingredients, warehousing and transportation, and then delivery to stores.

As of the end of 2025, Guming operated 24 warehouses in total. The total building area across these warehouses was approximately 258,000 square meters, including cold-storage capacity of more than 70,000 cubic meters, which can support storage needs across multiple temperature ranges. These warehouses can provide cold-chain delivery services to approximately 98% of the stores once every two days, as needed.

With the help of a regional densification strategy and a large-scale warehousing and logistics infrastructure, Guming can continuously provide fresh and high-quality food ingredients to tens of thousands of stores at relatively economical costs. In 2025, Guming’s delivery-to-store cost was less than 1% of the total GMV.