茶百道中期业绩会：收入增长运营提效，业绩迎来向上拐点

Core Insights - The company reported significant improvements in store performance, with average daily GMV per store reaching the highest level in nearly a year, up approximately 15% quarter-over-quarter [1][2] - The company achieved revenue and profit growth in the first half of the year, with 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] - The company launched 55 new products in the first half of 2025, with the "True Fresh Ice Milk" series selling nearly 20 million cups [1] Store Network and Performance - The number of stores increased to 8,444, with franchise partners reaching 5,833 and total registered members exceeding 160 million [1] - The company has optimized its store network, with a notable improvement in the operating conditions of franchise partners, reducing the average payback period by 1-2 months [2] - The company has tailored product offerings for specific regions, such as Shanghai, and plans to replicate successful strategies in other areas [2] Supply Chain and Product Development - The company is focusing on centralized and standardized production for more SKUs, enhancing supply chain capabilities [1] - The number of national warehousing centers has increased to 26, covering an area of 220,000 square meters [1] - The shift in product development strategy has moved from supply chain-driven innovation to consumer demand-driven development [2] Market Coverage - The company's store distribution spans first to fourth-tier cities, with the proportion of stores in fourth-tier and below cities increasing by 9% year-on-year [1]