TMTPOST -- China’s bubble tea makers are reigniting their initial public offering (IPO) ambitions, encouraged by signs that Beijing is loosening its regulatory control over the market and improving sentiment, following a lackluster debut by one of the industry’s major players earlier this year. The China Securities Regulatory Commission (CSRC) recently approved a Hong Kong IPO for Guming Holdings, nearly a year after the tea maker first submitted its pre-listing documents. This move has sparked renewed interest among other companies seeking approval for offshore listings, according to sources familiar with the situation. Many IPO plans were put on hold after China issued guidelines discouraging share sales from certain sectors, particularly those reliant on fast-growing franchise models, such as many bubble tea chains, which were not allowed to list locally. However, the Hong Kong IPO of Sichuan Baicha Baidao Industrial Co., known as Chabaidao, showed the market’s potential. Despite Chabaidao's shares falling 27% on its first day of trading in April and another 9.4% the next day, the slump has eased. The company’s shares are still down 38% since the listing, which had initially been Hong Kong's largest IPO of the year. Other major chains, including Mixue Group, China’s largest bubble tea chain, and Auntea Jenny, saw their Hong Kong IPO applications lapse after their approval by the CSRC was delayed.