Guming Holdings Limited
1364 · HKEX · China
Price data from its AY3 listing on FSX, quoted in EUR
gumingnc.comFinancials as of FY2025
Guming earns primarily by processing and supplying beverage ingredients and equipment to independently run franchise stores that carry its brand, with a smaller stream from ongoing franchise service fees.
- Depends onDownstream position: depends on 11 industries, supplies 6
- ScaleLevered free cash flow is -$375.08M, lower than 95% of all stocks globally
- PositionProfit margin is 24.1%, higher than 95% of its Restaurants peers (median 6.5%)
- Interpretations11 currently firing — 11
What this company is and how it runs — written from structure, not news.
The company sits between suppliers of ingredients and equipment on one side and a large network of franchised stores and their customers on the other, and it actively runs that middle position: buying and processing ingredients centrally, moving fresh, short-shelf-life inputs through its own warehouses and logistics, and managing the franchise relationship itself through training, site selection and ongoing operating support.
Most revenue comes from one-time sales of ingredients and equipment into its own franchise network, alongside a smaller, more recurring stream of franchise-management, training and support fees earned as those services are delivered over time, while revenue from stores it runs itself is a marginal share by comparison. Net income has stayed positive in every year of the multi-year window CompanyGraph has recomputed from its financial statements.
The company scales by adding more franchised stores across many cities rather than by deepening a small number of locations, and it times new central processing capacity to that store growth, which it states is necessary to keep ingredients fresh as store density increases. CompanyGraph groups it, based on how it operates, with a broader set of companies that grow the same way, by repeating a standardized, independently profitable unit, though this describes a shared shape rather than a measured outcome for this company specifically.
The company depends on suppliers of fresh, perishable ingredients such as fruit, tea leaves and milk, and it routes a meaningful share of consumer orders through third-party delivery platforms, including Meituan and Ele.me, even though it describes that channel as substitutable rather than something it materially relies on. Separately, CompanyGraph's own mapping of its position places it downstream of a wide band of supplying industries beyond these specific relationships.
Its direct paying customers are mostly the franchisees who buy ingredients, equipment and support services from it, along with some enterprise buyers of processed ingredients, with end consumers sitting one step further downstream inside the franchised stores. No single customer accounts for a large share of revenue, which spreads that dependence across many buyers rather than concentrating it in a few.
By its own account, the company holds a leading position within the mid-priced segment of its market, which it attributes to regional density, franchisee relationships and consistent branding rather than to any single protected asset. CompanyGraph's data shows that the broader way it operates, replicating a standardized franchise unit, is shared by many other companies, so this evidence does not show what, if anything, rivals are structurally unable to copy.
Franchisees are integrated into the company's own ordering and payment system and hold the right to sell under its brand only within a defined territory set by the franchise agreement, which ties their daily operations and brand rights to staying inside the system rather than to a contract they could simply let lapse. The company also discloses recurring purchase behaviour among end consumers and some turnover among franchisees, describing an ongoing operating relationship rather than a short, easily replaced transaction.
By its own account, the company's growth is limited chiefly by whether it can keep opening and successfully running new franchised stores, entering new markets and deepening coverage in places it already operates, and by whether its supply and processing infrastructure can expand quickly enough to keep ingredients fresh as store density rises. This is the company's own framing of what caps its growth, not a limit CompanyGraph has independently measured.
The company itself names the risk of failing to keep expanding and successfully operating its store network, including entering new geographic markets or deepening coverage in existing ones, as the first risk in its own disclosures. It ties this to the need for supply-chain and processing infrastructure to grow in step with store density, since its beverages depend on fresh, short-shelf-life ingredients that lose quality if that infrastructure falls behind. This is the risk the company itself places first among its own disclosures, not a failure mode CompanyGraph has independently weighed against others.
The company's stores and supply operations sit under food-safety and franchise-registration licensing administered by national and local market-regulation authorities in China, and it reports exposure to movements in the exchange rate between the Chinese currency and others it transacts in.
Read from the company's own filings and public materials (gathered August 2026) together with figures CompanyGraph recomputed from its statements. Written August 2026. A question with no evidence behind it is left out rather than answered.
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Sign inWhat the company actually pays, and whether its own cash supports it.
The reported statements, read against the company's own industry.
11 interpretations currently present — each is a set of fired observations whose alignment reads as one structural pattern. Click an observation to see the numbers behind it.
Screen for these patternsIs this company financially stable?
MRQ Cash Elevated Relative To Total Debt With EBITDA And FCF Elevated Relative To Total Liabilities
Cash covers most of its debt, with earnings high against its liabilities.
How does this company use capital?
Cash Backing With Revenue And Income Streaks
Revenue has risen in each of three years, profit in all three, and it holds more cash than debt.
Cash-Flow Ratios Elevated
More of its sales turn into cash than in its industry, and less of that cash is consumed by reinvestment than at most of its peers.
FCF Ratios Elevated
Its free cash flow is large next to assets and equity, and more of its operating cash reaches it than in its industry.
High ROE Relative To Gross Margin
Its return on equity is high for the gross margin it earns, with revenue up three years and profit in all five.
Operating Income Growing With Multi-Year Revenue Growth
Revenue up in each of five years, with operating income up in each of four.
Multi-Year FCF With Growth And Margin
Three years of positive free cash flow and rising revenue, four of rising equity, and much of its sales turns into cash.
Revenue Growing With Receivables Growing
Revenue has risen three years, and what customers owe has risen with it.
Is this company growing?
Multi-Year Revenue And Profit Growth
Revenue and earnings have both grown steadily across six years.
Multi-Year Revenue, Profit, And Income Growth
Revenue has risen in each of three years, gross profit in each of four, and it has made a profit in all five.
How is this stock valued?
Low RSI With Profitability And Equity Ratio
Recent weekly losses have outpaced gains, on three profitable years and heavy equity.
An interpretation is present only while every observation it reads stays fired (score ≥ 70). It describes what the aligned readings show — never a verdict, never a prediction.
Shared structure with peers — never a ranking.
Structural observations derived from financial data, industry benchmarks, and supply chain position.
Peer Positioning
Financial Health
Supply Chain
Scale
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