Chi Forest

Chi Forest, originally established as Genki Forest, is a Chinese beverage company headquartered in Beijing and associated with the rise of low-sugar and sugar-free drinks in the Chinese consumer market. The company was founded in 2016 by Tang Binsen, a technology entrepreneur who had previously founded ELEX Technology, the developer of the mobile game Clash of Kings. After ELEX was sold in 2014, Tang moved away from the gaming industry and turned toward fast-moving consumer goods. He also established Challenjers Venture, an investment firm focused on consumer businesses, which provided financial support during Chi Forest's early development. The company's initial product development was difficult. Its first shipment failed to gain traction and had to be destroyed, creating a significant setback for a young business whose team had limited experience in beverages. For a period, the company relied heavily on loans from Challenjers Venture. It later used crowdfunding on Weibo to finance the launch of Burning Tea, a low-calorie, low-sugar oolong tea. That product helped the company establish a consumer base and provided a foundation for a broader beverage portfolio. In 2018, Genki Forest entered the carbonated beverage category. Its sparkling drinks became the brand's best-known offering and helped define its position around reduced sugar, lighter calorie content, modern packaging, and digitally oriented marketing. Rather than building its business entirely through traditional distributors, the company initially emphasized e-commerce and social-media channels before expanding into conventional retail. This online-first route enabled it to test products and communicate directly with younger consumers, while its stated technology-oriented approach placed emphasis on data, product experimentation, and advanced manufacturing. The brand's visual identity initially used Japanese-influenced design cues, which the company associated with a premium and contemporary presentation. In 2023, it changed its English branding from Genki Forest to Chi Forest, a move described as placing greater emphasis on a China-influenced identity. The company has continued to be associated primarily with sparkling water, while also selling tea drinks and functional or other low-calorie beverages. Chi Forest began testing international expansion in 2021 through a pilot sales arrangement with Costco stores in the San Francisco Bay Area. This represented an early attempt to bring the company's products to consumers outside China, although the available reference material does not establish the scale or continuing status of its overseas business. The company remained privately held in the available materials. In January 2026, reports cited in the reference material said that Chi Forest was considering an initial public offering in Hong Kong and that Warburg Pincus and Temasek Holdings were among its backers. No completed listing or definitive transaction is established here.

Chi Forest was founded in 2016 by Tang Binsen under the name Genki Forest. Tang entered the beverage sector after building and selling ELEX Technology, a technology company associated with the mobile game Clash of Kings. His move into consumer goods reflected a belief that beverages offered significant opportunities for technology-led change. Through Challenjers Venture, a venture capital firm he founded with a focus on fast-moving consumer goods, Tang also had a source of financial support for the new company. The early period was marked by product-development problems. The company's first batch failed commercially and was destroyed, imposing a substantial cost on the young business. Because the founding team lacked extensive beverage-industry experience, the company struggled to find a product that resonated with consumers. It survived for a time largely through loans from Challenjers Venture. A later crowdfunding effort on Weibo helped finance Burning Tea, a low-calorie, low-sugar oolong tea. The product's reception gave Genki Forest a viable starting point and helped it move beyond the failed initial launch. In 2018, Genki Forest expanded into carbonated beverages. Its sparkling drinks achieved rapid success and became the product category most closely associated with the brand. The company distinguished itself from established beverage competitors by beginning with online channels, including e-commerce and social media, before moving into traditional retail and distribution. This approach supported direct consumer communication and rapid product testing. The company presented itself as a technology-oriented beverage business, combining consumer data, digital marketing, and a high-tech manufacturing approach in its product-development model. Packaging and brand presentation were central to the company's market identity. During its early growth, Genki Forest used Japanese-style visual design intended to communicate a modern and premium impression. Its products were positioned around low sugar, low calories, and a sense of everyday health-conscious consumption rather than conventional indulgent soft drinks. The company broadened beyond sparkling beverages into flavored teas and functional drinks, while retaining sparkling water as its central category. The company tested overseas growth in 2021 through a pilot sales deal with Costco outlets in the San Francisco Bay Area. The available material identifies this as an initial U.S. market trial but does not establish the duration, sales level, or later expansion of the arrangement. In 2023, the company changed its English brand name from Genki Forest to Chi Forest. The rebranding was described as an effort to create a more China-influenced identity, marking a shift away from the earlier Japanese-style presentation. Chi Forest remained privately held in the available reference material. In January 2026, reports said it was considering a Hong Kong Stock Exchange IPO and named Warburg Pincus and Temasek Holdings among its backers. These reports describe a possible future capital-markets transaction rather than a completed listing. The company's documented development therefore runs from a difficult startup phase, through the successful launch of low-sugar tea and sparkling beverages, to a digitally led consumer brand with ambitions for international distribution and possible public-market access.

1. 2026Possible Hong Kong IPO is reported

   Reports say Chi Forest is considering a Hong Kong listing, while also identifying Warburg Pincus and Temasek Holdings among its backers.

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2. 2023Genki Forest becomes Chi Forest

   The company rebrands its English name as Chi Forest to give the brand a more China-influenced identity.

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3. 2021United States pilot begins

   The company signs an initial pilot sales arrangement with Costco stores in the San Francisco Bay Area.

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4. 2018Entry into carbonated beverages

   Genki Forest enters the carbonated beverage market, where its sparkling drinks quickly become its signature products.

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5. 2016Genki Forest is founded

   Tang Binsen establishes the beverage company that initially operates under the Genki Forest name.

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6. 2016Early product launch fails

   The company's first product shipment performs poorly and is destroyed, causing a major early setback.

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7. Burning Tea is launched through crowdfunding support

   A Weibo crowdfunding effort helps the company launch Burning Tea, a low-calorie, low-sugar oolong tea that provides an early commercial breakthrough.

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Health-conscious, digitally native, youth-oriented, and innovation-focused; the brand emphasizes reduced sugar or sugar-free formulations, contemporary packaging, and experimentation in non-alcoholic beverages.

• Sparkling water and sparkling drinksCarbonated beverages2018

  Chi Forest's best-known product family consists of low-calorie or sugar-free carbonated drinks. The category became central to the brand after its 2018 market entry and helped establish its identity as a modern alternative to conventional soft drinks. The products are associated with lighter formulations, flavored carbonation, contemporary packaging, and digital-first promotion.

• Burning TeaTea beverages

  Burning Tea is a low-calorie, low-sugar oolong tea that helped Genki Forest gain an early foothold after its difficult first product launch. The product was financed with support from a crowdfunding campaign on Weibo and demonstrated the company's focus on adapting familiar beverage categories to health-conscious consumption preferences.

• Flavored tea drinksTea beverages

  Flavored and reduced-sugar tea drinks form a broader part of Chi Forest's non-alcoholic beverage portfolio. They extend the brand beyond sparkling water while retaining its emphasis on contemporary flavors and lower-sugar positioning. Specific flavor variants and launch dates are not established in the available material.

• Functional beveragesFunctional beverages

  Functional beverages are identified as part of the company's broader product scope. The available reference material does not provide enough detail to specify individual formulas, benefits, or launch chronology, but the category is consistent with Chi Forest's wider focus on modern, health-oriented beverage consumption.

• Weibo crowdfunding launch for Burning Tea

  China

  The company used crowdfunding on Weibo to support the launch of Burning Tea after its initial product failure and financing difficulties. The campaign helped provide the funds needed to introduce a low-calorie, low-sugar oolong tea.

  Outcome. Burning Tea became an early commercial breakthrough and helped the company establish a viable beverage business.

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• 2026Consider a Hong Kong initial public offeringOther

  Reports described the privately held company as evaluating access to public capital markets.

  What changed. Chi Forest was reportedly considering an IPO on the Hong Kong Stock Exchange.

  Aftermath. No completed listing or definitive transaction is established in the available reference material.

  Source
• 2023Rebrand from Genki Forest to Chi ForestStrategy

  The earlier identity used Japanese-influenced packaging and the English name Genki Forest.

  What changed. The company adopted Chi Forest as its English brand name and moved toward a more China-influenced identity.

  Aftermath. The rebrand clarified the company's China-centered identity while retaining the existing beverage portfolio.

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• 2021Test U.S. retail distributionStrategy

  Following growth in China, the company began exploring international distribution for its beverage portfolio.

  What changed. Chi Forest signed an initial pilot sales arrangement with Costco stores in the San Francisco Bay Area.

  Aftermath. The move represented an early U.S. market test, but the available material does not establish its later scale or continuation.

  Source
• 2018Enter the carbonated beverage marketProduct launch

  After establishing an initial foothold with low-sugar tea, Genki Forest sought a larger opportunity in carbonated drinks.

  What changed. The company launched sparkling and other carbonated beverages emphasizing low-calorie or sugar-free positioning.

  Aftermath. The category became the company's signature business and drove its recognition among Chinese beverage consumers.

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• 2026Chi Forest reportedly considers a Hong Kong initial public offering

  Reports cited in the reference material said that the privately held beverage company was considering an IPO on the Hong Kong Stock Exchange. The reports also identified Warburg Pincus and Temasek Holdings among its backers; no completed listing is established.

  Other
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• 2023Genki Forest rebrands as Chi Forest

  The brand changed its English name from Genki Forest to Chi Forest, with the rebranding described as an effort to give the company a more China-influenced identity.

  Other
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• 2021Chi Forest begins a pilot expansion into the United States

  The company reportedly signed an initial pilot sales arrangement with Costco stores in the San Francisco Bay Area as an early step toward international expansion.

  Other
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1. Chi Forest
2. Chi Forest official website