Guoquan Food (Shanghai) Co. Ltd, a supplier of ingredients for hotpots and other dining at home, has reported double-digit revenue and profit growth in the first half of 2026, and it attributed it to rising demand via online channels aside from its growing network of mostly franchised offline stores.
The company recorded 21.8% year-on-year jump in revenue to Rmb 3.95 billion ($589.8 million) during the first 6 months ended June 2026.
Guoquan also upgraded its 684 outlets to large-store format in the first half, as it seeks to lift store productivity by offering more products and positioning the stores as gateways for community and household dining.
The company also stepped up development of Guoquan Farm, its premium-ingredient retail offering that transcends physical space and freezer constraints of individual stores. Paid gross merchandise value (GMV) from the business reached Rmb 240 million (US$35.8 million) over the period, up 631% year-on-year. The company sees Guoquan Farm as a new growth engine that links direct sourcing with online sales and near-instant store pickup, using an unlimited online assortment to eliminate shelf-space constraints of physical stores.
Guoquan has also opened its first store in Hong Kong on 18 August to gain offshore experience before expanding into other international markets.
