TREE NEWS update: Guoquan said its third-quarter 2026 revenue reached 1.9 billion to 2.0 billion yuan, with core operating profit of about 30 million to 40 million yuan. As of the end of September 2026, the company operated 12,142 stores, a net increase of 1,381 from a year earlier, including 3,478 township stores, up 916 year on year.
Guoquan reports Q3 revenue of 1.9-2.0 billion yuan, 12,142 stores
The signal here is Guoquan's growth engine running through lower-tier markets: township stores accounted for roughly two-thirds of the net store additions, which suggests expansion is increasingly a rural and small-city story rather than a premium urban one. That mix matters because profitability is thin — core operating profit of tens of millions against billions in revenue — so the question is whether volume-driven store growth can carry margins, or whether the township push dilutes them further. The open question is whether the pace of net openings holds into year-end and whether per-store economics in those new markets justify the build-out.
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