Hong Kong’s latest bubble tea IPO replaces another billion

Bubble tea has created another billionaires of China’s immortal hunger.

According to the Bloomberg billionaire, Holdings Hong Kong’s initial public supply has raised the value of stock owned by thousands of its founder Yun Wang to $ 1.1 billion. Stocks ended up 6.4% below the list price at HK $ 9.30 ($ 1.3) and changed the initial gains.

Wang joins the Billionaire Billionaire -growing club, which sprouted in the wake of the demand for drinks – is predicted that the $ 9.6 billion market in 2018 will be $ 71 billion in three years. But he takes his company in public at a time, and investors are increasingly aware of money in such a competitive industry, where vendors continue to engage in pricing battles.

Take the Sapitao Tea Manufacturer Sichuan Baica Bitao Indry. Last April last April is the most recent company that produces new fruits, tapioca balls or tea mixed with tea with milk. The company’s husband and wife founders Wang Chiaokun and Liu Weihong joined the net worth about $ 2.7 billion at the time, but their fortune was shrunk by the loss of half of its value.

It does not prevent Wang and his competitors from trying to raise funds so that they can continue to add thousands of stores with their chains. For example, Industrial Chairman Micu Group has updated plans for an IPO. The company’s founding brothers, Zhang Hangsao and Zhang Hangfu, had a net worth of about $ 1.5 billion each in April.

The Wang and his underwriters, led by Goldman Sachs Group Inc and UPS Group AG, are betting on selling tea under the “Good Me” brand and attracting investors due to his unique strategy. While others are trying to create their wealth in metropolitan areas such as Beijing and Shanghai, the company is particularly targeting small cities and cities, where bubble tea is not immediately available, and according to the Commission’s claim.

He knows. Almost 15 years ago, in the Jejiang Province near Shanghai – less than 200 000 population – its first tea shop in its hometown of Taxi – transforms into a small space by Chinese standards. According to the local media, his shop was very empty at the beginning, and Wang had days of selling only 100 yuan ($ 14) tea per day-after his co-founder sold some drinks.

Yun Wang 12 at the List Festival in Hong Kong in February. Image: Lam Yick/Bloomberg

Since then, his tea chain has expanded deep into China’s landscape to accumulate nearly 10 000 shops. According to the research quoted in the IPO PROSPITA that the brand was the second largest among the newly manufactured bubble tea makers based on the number of wholesale sales and shops by the end of 2023, after the high-competition escaped.

“We are still under the lower tier cities, or cities and districts,” said George Meng, Chief Financial Officer of the Commission, Bloomberg TV on Wednesday. “Going to places like Beijing and Shanghai is not in a hurry because there are already plenty of bubble tea shops.”

The Good M. Good Me played a 9.1% market share at the end of 2023, and in the top five bubble brands of China, only 20% of the mixture remained lagging behind.

“The industry is always full of crazy ads,” Communin Wang told Southern Metropolis in December 2023. “We have already got used to a price war. Every year a new bubble tea brand appears.”

Wang, who conducted a small retail business near Myanmar’s border, graduated in 2010 at Jejiang Science-Tech University undergraduate degree in material science and engineering, the same year he opened me his first good good. As of September, the company was in 17 provinces across China.

In Taiwan, a sugar, a high -calorie consolation drink, is severely developed in the Chinese landscape of the pub, and the various chains competes to provide tea or freshly boiled ice tea mixture with fruit compute or juice.

© 2025 Bloomberg

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