Chi Forest

Corporate brand

A Chinese beverage company known for low-calorie sparkling drinks, flavored teas, and other modern non-alcoholic beverages.

Last updated November 2, 2026

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Overview

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. The brand's visual identity initially used Japanese-influenced design cues, which the company associated with a premium and contemporary presentation. Its portfolio broadened beyond sparkling water into flavored teas, milk tea, functional and energy drinks, and juice and fruit beverages, while sparkling water remained its central category. The company's rise contributed to a competitive shift in China's beverage industry, as large incumbents and other new brands increased their attention to sugar-free sparkling water, modern tea, and functional refreshment. In April 2021, Genki Forest encountered a reputational problem involving a milk-tea product: consumers and media questioned whether packaging and promotion could cause confusion about the product's formulation, and the company apologized and revised the relevant packaging wording. Also in 2021, Chi Forest began testing international expansion through a pilot sales arrangement with Costco stores in the San Francisco Bay Area. This represented an early attempt to offer products to consumers outside China, although the available references do not establish the scale or continuation of its overseas operations. In 2023, the company changed its English brand name from Genki Forest to Chi Forest, a move described as emphasizing a more China-influenced identity. Chi Forest remained privately held in the available reference material. In January 2026, reports cited in the references said Chi Forest was considering an initial public offering in Hong Kong, with Warburg Pincus and Temasek Holdings named among its backers. No completed listing or definitive transaction is confirmed here.

History

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. Genki Forest emerged in China during a period when consumers were increasingly interested in lower-sugar food and beverage products, while online retail and social commerce were reshaping how new brands could reach national audiences. Founded in 2016 by Tang Binsen, the company adopted a consumer-brand approach rather than relying solely on the conventions of established beverage manufacturers. Its packaging, product naming and digital presentation were designed to stand out in convenience stores, e-commerce listings and social-media feeds. The brand's breakthrough was closely associated with flavored sparkling water positioned as sugar-free. The product offered carbonation and fruit-inspired flavor cues while avoiding conventional sugar, making it legible to consumers seeking an alternative to mainstream sodas. Genki Forest used a clean, colorful design language and promoted a youthful lifestyle image. The proposition benefited from broader public attention to calorie intake, diet management and the use of non-sugar sweeteners. As distribution expanded, Genki Forest became visible across online marketplaces, convenience stores, supermarkets and other modern retail channels in China. Its growth also reflected the importance of rapid experimentation: the company could test flavors, package formats and category extensions while using digital feedback and retail data to refine its range. The result was a portfolio that moved beyond sparkling water into tea drinks, milk tea, functional beverages, energy drinks and other non-alcoholic products. The company's rise contributed to a competitive shift in China's beverage industry. Large incumbent groups and other new brands increased their attention to sugar-free sparkling water, modern tea and functional refreshment. Genki Forest therefore had to defend its distinctiveness not only through product formulation but also through packaging, distribution, marketing and speed of innovation. In 2021, the company encountered a reputational problem involving a milk-tea product. Consumers and media questioned whether packaging and product communication could cause confusion about the product's formulation. Genki Forest issued an apology and indicated that it would revise the relevant packaging and improve disclosure. The incident was significant because it demonstrated that a brand built on health-oriented associations must communicate nutrition and formulation claims with particular precision. Genki Forest continues to operate as a private Chinese beverage brand. It is best known internationally and domestically for sugar-free flavored sparkling water, but its business scope is broader and includes several non-alcoholic beverage categories. Public sources do not provide a definitive current list of all executives, a verified public valuation or a confirmed stock-market listing. Its present development is therefore most clearly understood as the expansion of a privately held, digitally oriented beverage platform rather than as the history of a listed consumer-products corporation. 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, milk tea, functional and energy drinks, and juice and fruit beverages, while retaining sparkling water as its central category. Its rise contributed to a competitive shift in China's beverage industry, as large incumbent groups and other new brands increased their attention to sugar-free sparkling water, modern tea, and functional refreshment.

2026
Possible Hong Kong IPO is reported
[1]Chi Foresten.wikipedia.org
Reports say Chi Forest is considering a Hong Kong listing, while also identifying Warburg Pincus and Temasek Holdings among its backers.
2023
Genki Forest becomes Chi Forest
[1]Chi Foresten.wikipedia.org
The company rebrands its English name as Chi Forest to give the brand a more China-influenced identity.
2021
United States pilot begins
[1]Chi Foresten.wikipedia.org
The company signs an initial pilot sales arrangement with Costco stores in the San Francisco Bay Area.
2021
Packaging controversy and apology
[4]Reuters report on Genki Forest packaging controversyreuters.com
The company apologized over consumer confusion concerning the presentation of a milk-tea product and said it would revise packaging and related communication.
2018
Entry into carbonated beverages
[1]Chi Foresten.wikipedia.org
Genki Forest enters the carbonated beverage market, where its sparkling drinks quickly become its signature products.
2016
Genki Forest is founded
[1]Chi Foresten.wikipedia.org
Tang Binsen establishes the beverage company that initially operates under the Genki Forest name.
2016
Early product launch fails
[1]Chi Foresten.wikipedia.org
The company's first product shipment performs poorly and is destroyed, causing a major early setback.
2016
Company founded
[3]Genki Forest official websitegenkiforest.com
Genki Forest was established in China by Tang Binsen.
Burning Tea is launched through crowdfunding support
[1]Chi Foresten.wikipedia.org
A Weibo crowdfunding effort helps the company launch Burning Tea, a low-calorie, low-sugar oolong tea that provides an early commercial breakthrough.

Products and positioning

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.

Carbonated beverages · 2018
Sparkling water and sparkling drinks
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.
Tea beverages
Burning Tea
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.
Tea beverages
Flavored tea drinks
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 beverages
Functional 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.
Flavored sparkling water
Genki Forest Sparkling Water
The brand's signature product family consists of carbonated flavored drinks marketed without conventional sugar. It is associated with fruit-inspired flavors, compact modern packaging and a lower-sugar lifestyle proposition. The line helped make Genki Forest one of the most recognizable newer beverage brands in China.
Tea beverages
Genki Forest Milk Tea
Genki Forest's tea range extends its sugar-free positioning into ready-to-drink tea. Products in this category are designed for consumers seeking a less sweet alternative to traditional bottled tea and are distributed through the same mix of digital and modern retail channels. The milk-tea range applies the brand's contemporary packaging and reduced-sugar positioning to a creamy tea beverage. A 2021 packaging controversy led the company to acknowledge consumer confusion and commit to clearer product presentation.
Functional beverages
Genki Forest Functional and Energy Drinks
The company has also operated in functional and energy-oriented beverages, broadening its addressable occasions beyond ordinary refreshment. Product formulas, names and availability may vary by market and channel.
Juice and fruit beverages
Juice and fruit beverages
Juice and fruit beverages are identified as part of the company's broader non-alcoholic beverage portfolio. The available reference material does not provide enough detail to specify individual products, formulas, or launch dates.

Controversies

2021
Milk tea 0 sucrose claim easily confused with 0 sugar; brand apologizes and adjusts packaging
In April 2021, Genki Forest admitted that the labeling and promotion of its milk tea product did not clearly explain the difference between 0 sucrose and 0 sugar, which could easily cause consumer misunderstanding; it issued an apology statement and changed the relevant packaging wording to low sugar and low fat. This entry concerns milk tea promotion and does not extend this to mean that all sparkling water contains sugar.
Source
2021
Milk-tea packaging and labeling controversy
Consumers questioned whether the packaging of a milk-tea product could create a misleading impression about its formulation. Genki Forest apologized, said it would correct the packaging and undertook to improve product communication.
Source
2021
Court upholds Yuanqi Forest unfair-competition judgment
The Beijing Intellectual Property Court rejected an appeal and upheld the original judgment in an unfair-competition dispute involving Yuanqi Forest and Zhejiang Quanshui Dingdong Food. The first-instance court found that the packaging and decoration of the “Qinqin Yuanqi” soda product were similar to Yuanqi Forest products and constituted confusion under the Anti-Unfair Competition Law.
Source
2021
Yuanqi Forest responds to Taobao store pricing error
Yuanqi Forest's e-commerce team said a staff error in setting discounts caused unusually low-priced orders at a Taobao store. The team said it would send each of the 140,500 customers who placed an order a box of white peach sparkling water and temporarily stop all sales at the store while handling the incident.
Source
2021
Genki Forest reports Taobao store promotion-setting error
Genki Forest said an operational error at its Taobao store caused products worth about RMB 260 to be sold for about RMB 10, resulting in losses of more than RMB 2 million. The company said it was working to handle the incident.
Source
Japanese-style packaging controversy

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

Brand decisions

2026
Consider a Hong Kong initial public offeringOther
Background
Reports described the privately held company as evaluating access to public capital markets.
Action taken
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
2023
Rebrand from Genki Forest to Chi ForestStrategy
Background
The earlier identity used Japanese-influenced packaging and the English name Genki Forest.
Action taken
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.
Source
2021
Test U.S. retail distributionStrategy
Background
Following growth in China, the company began exploring international distribution for its beverage portfolio.
Action taken
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
2021
Corrective packaging and communication measuresOther
Background
Public criticism focused on possible consumer confusion over the presentation of a milk-tea product and its formulation.
Action taken
The company apologized and stated that it would revise the relevant packaging and strengthen product communication.
Aftermath
The episode underscored the importance of precise labeling for beverage brands using sugar-free, reduced-sugar or health-oriented positioning.
Source
2018
Enter the carbonated beverage marketProduct launch
Background
After establishing an initial foothold with low-sugar tea, Genki Forest sought a larger opportunity in carbonated drinks.
Action taken
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.
Source

Recent events

2021-10-29
Yuanqi Forest responds to Taobao store pricing error[8]Yuanqi Forest responds to Taobao store pricing errorce.cn
Reported: 2021-10-29
Yuanqi Forest's e-commerce team said a staff error in setting discounts caused unusually low-priced orders at a Taobao store. The team said it would send each of the 140,500 customers who placed an order a box of white peach sparkling water and temporarily stop all sales at the store while handling the incident.
2021-10-28
Genki Forest reports Taobao store promotion-setting error[9]Genki Forest reports Taobao store promotion-setting errorchinaz.com
Genki Forest said an operational error at its Taobao store caused products worth about RMB 260 to be sold for about RMB 10, resulting in losses of more than RMB 2 million. The company said it was working to handle the incident.
2021-09-27
Court upholds Yuanqi Forest unfair-competition judgment[7]Court upholds Yuanqi Forest unfair-competition judgmentfinance.jrj.com.cn
The Beijing Intellectual Property Court rejected the appeal and upheld the original judgment in the unfair-competition dispute involving Yuanqi Forest and Zhejiang Quanshui Dingdong Food. The first-instance court found that the “亲亲元气” soda product’s packaging and decoration were similar to Yuanqi Forest products and constituted confusion under the Anti-Unfair Competition Law.
2021-09-01
Genki Forest and Honest Dairy agree to buy stakes in AustAsia[10]元气森林和诚信乳业同意收购AustAsia股权sbr.com.sg
Reported: 2021-09-01
Japfa announced two agreements under which Genki Forest would purchase a 5% equity stake in AustAsia for $78.6 million and Honest Dairy would purchase a 2.5% stake for $39.3 million. AustAsia is a Japfa subsidiary operating farms in China.
Unconfirmed
元气森林 sponsors the China Pavilion at Expo 2020 Dubai[11]元气森林赞助2020年迪拜世博会中国馆food.china.com.cn
Reported: 2021-07-28
元气森林 was identified as a senior sponsor of the China Pavilion at Expo 2020 Dubai, and its related products were to be exhibited in the pavilion.
Unconfirmed
Genki Forest completes approximately $500 million funding round[12]元气森林完成约5亿美元融资chinaz.com
Genki Forest completed a strategic funding round of approximately $500 million, with existing investor Sequoia China and new investors Warburg Pincus and L Catterton participating as lead investors. The post-money valuation was reported at $6 billion.
Unconfirmed
Yuanqi Forest completes funding round at $6 billion valuation[13]元气森林完成新一轮融资，投后估值达60亿美元finance.sina.com.cn
Reported: 2021-03-30
Yuanqi Forest completed a new funding round at a post-money valuation of $6 billion. The report said Warburg Pincus newly led the round, with L Catterton and Temasek participating, alongside existing investors.
2020-05-10
Yuanqi Forest launches Alien energy drink[14]元气森林推出“外星人”能量饮料tech.sina.com.cn
Reported: 2020-05-29
Yuanqi Forest launched the Alien energy drink on May 10. The product was offered in three flavors and was described as sugar-free and carbonated, with no added artificial caffeine.

Sources16 sources

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