霸王茶姬张俊杰谈“外卖大战”：坚定做高价值品牌，坚决不打价格战

Core Insights - The company reported a total net revenue of 3.3319 billion RMB for Q2 2025, representing a year-on-year growth of 10.2% [1] - The global GMV reached 8.1031 billion RMB, showing a year-on-year increase of 15.5% [1] - The average monthly GMV per store in the Greater China region was 404,350 RMB, with a year-on-year decline of 23% for same-store GMV [1] Business Strategy - The company is committed to not participating in price wars, focusing instead on a high-value brand strategy and enhancing operational efficiency through technological innovation and refined operations [1] - The CEO emphasized that competition driven by massive subsidies is unsustainable and could pose structural challenges to various aspects of the industry, including merchant operations and platform health [1] Market Performance - The company's takeaway GMV share increased to 52%, with 73.9% of orders coming from repeat customers [2] - As of the end of Q2, the registered membership base surpassed 200 million, reaching 206.9 million, with a net increase of 14.55 million from the previous quarter, marking a year-on-year growth of 42.7% [2] Future Plans - The company plans to launch a comprehensive upgrade of core raw materials in the second half of the year, covering all key categories such as tea leaves, milk sources, and syrups [2]