Guming releases 2025 performance: store count exceeds 13,000, with a net increase of 3,640 stores in one year

On March 25, Gu Ming released its performance report for 2025, showing stable growth in store numbers, single-store performance, revenue, and profit.

The financial report indicates that in 2025, Gu Ming achieved total revenue of approximately 12.9 billion yuan, a year-on-year increase of 46.9%; adjusted profit (not measured according to international financial reporting standards) was approximately 2.575 billion yuan, a year-on-year increase of 66.9%.

As of the end of 2025, Gu Ming had 13,554 stores, a net increase of 3,640 stores compared to the end of 2024. By continuously deepening its core advantage regions, Gu Ming further enhanced its store coverage density and brand influence in lower-tier markets. The financial report shows that Gu Ming’s store network covers over 200 different levels of cities in China, with the number of stores in second-tier and lower cities accounting for 82% of the total store count, and the proportion of stores in towns increasing to 44%, further deepening its layout in China’s lower-tier markets.

In 2025, Gu Ming continued to improve store operating performance. The average daily GMV per store reached approximately 7,800 yuan, and the total annual GMV for stores reached 32.732 billion yuan, a year-on-year increase of 46.1%.

In terms of products, Gu Ming continued to increase investment in product research and development, launching 106 new products throughout the year in 2025 and making significant progress in the coffee category. As of December 31, 2025, over 12,000 Gu Ming stores were equipped with coffee machines, and 27 new coffee beverages were launched throughout the year.

Gu Ming’s beverages are also well-received by consumers and have garnered widespread praise. As of December 31, 2025, the number of registered members on Gu Ming’s mini-program reached approximately 206 million, with quarterly active members numbering around 52 million.

Behind the fresh, tasty, high-quality, and affordable products is Gu Ming’s supply chain capability, which has been continuously invested in over the past decade. Gu Ming uses its own cold chain storage and logistics infrastructure to store and transport short-shelf-life ingredients such as fresh fruits, tea leaves, and fresh milk, and has established refined standards for managing the supply chain at every stage from procurement, raw material processing, to warehousing and transportation to stores.

As of the end of 2025, Gu Ming operated a total of 24 warehouses, with a total building area of approximately 258,000 square meters, of which the cold storage capacity exceeds 70,000 cubic meters, capable of supporting various temperature range storage needs. These warehouses can provide cold chain delivery services to about 98% of stores every two days as needed.

With the help of regional encryption strategies and a vast warehousing and logistics infrastructure, Gu Ming can continuously provide fresh, high-quality ingredients to tens of thousands of stores at a relatively economical cost. In 2025, the delivery cost from warehouses to stores was less than 1% of the total GMV.