NHD(SZ:002946) 3 6 Ke·2025-09-17 05:12Core Viewpoint - Mixue Ice City is set to enter the U.S. market, with its first store located in Manhattan, New York, indicating a significant expansion strategy into overseas markets [1][3]. Group 1: Store Location and Market Potential - The first store is situated at 266 Canal Street, previously a Cantonese restaurant, and is strategically located at the intersection of Chinatown and SoHo, targeting both the Chinese community and tourists [1][3]. - The store covers an area of 2,100 square feet (approximately 195 square meters) with a ten-year lease, and the rent is $165 per square foot (approximately 1,175 RMB) [3]. Group 2: Operational Challenges and Strategies - The process of securing a store in the U.S. involves multiple stakeholders, including property owners and due diligence companies, which can complicate the leasing process [3][4]. - Mixue Ice City is optimizing its store structure, with a reported total of 4,733 overseas stores by mid-2025, an increase of 128 stores year-on-year, but a decrease of 162 stores compared to the end of 2024 [3][4]. Group 3: International Expansion and Performance - The company is enhancing its overseas support system, with plans to train international employees at its headquarters in China starting in the second half of 2024 [4]. - Recent international expansions include the opening of a store in Almaty, Kazakhstan, with first-month revenue exceeding 430,000 RMB, and a procurement order for 4 billion RMB worth of coffee beans in Brazil [4][6]. - Upcoming store openings include locations in Los Angeles and Flushing, New York, indicating continued growth in the U.S. market [4][6]. Group 4: Cost Considerations - Mixue Ice City faces higher operational costs in overseas markets, including raw materials, labor, and rent, which may limit its pricing strategy compared to its successful low-cost model in China [6].