茶百道发布半年报：营收利润双升，注册会员数1.6亿

Core Viewpoint - Sichuan Baicha Baidao Industrial Co., Ltd. (Tea Baidao) reported revenue and profit growth for the first half of 2025, achieving total revenue of 2.5 billion yuan, a year-on-year increase of 4%, and a profit of 333 million yuan, up 40% year-on-year [1] Group 1: Financial Performance - Total revenue for the first half of 2025 reached 2.5 billion yuan, with a gross profit of 815 million yuan and a gross margin of 32.6% [1] - The profit for the period increased to 333 million yuan, representing a 40% year-on-year growth [1] Group 2: Operational Efficiency - The number of stores increased to 8,444 nationwide, with a flagship store opening in Chengdu [1] - The company has established 26 national warehousing and distribution centers, enhancing its supply chain capabilities [2] - Approximately 93.8% of stores achieve next-day replenishment, and about 95% receive deliveries twice or more per week [2] Group 3: Product Innovation - Tea Baidao launched 55 new products in the first half of 2025, with several becoming market highlights [2] - The "True Fresh Ice Milk" series has sold nearly 20 million cups, marking it as a phenomenon in the market [2] - The registered membership has reached 160 million, growing over 40% year-on-year [2] Group 4: International Expansion - The company has adopted a "one location, one strategy" approach for its international business, establishing stores in 8 countries and regions, with over 40 signed stores [3] - In South Korea, Tea Baidao has obtained franchise qualifications and currently operates 18 stores, with plans for further expansion [3] - Upcoming openings are planned for its first stores in France and the United States, indicating accelerated international growth [3]