纳斯达克上市半年承压：霸王茶姬遭谣言冲击，单店盈利下滑 + 品控问题持续发酵

Core Viewpoint - The company BaWang Tea Ji, which became a notable IPO in 2025, is currently facing multiple crises including rumors, stock price volatility, slowing growth, and quality control issues, despite its rapid expansion and initial high valuation of nearly $3 billion [1][4]. Group 1: Rumors and Public Response - The founder Zhang Junjie publicly refuted rumors regarding his personal life, emphasizing the need for legal action against false claims that have caused harm to his family [6][9]. - The spread of rumors coincided with a wedding announcement, leading to various unfounded narratives about Zhang's background and business success [3][4]. - The stock market reacted negatively, with BaWang Tea Ji's share price dropping by 8.09% on November 20, 2025, resulting in a market value loss of approximately $210 million [4][6]. Group 2: Business Performance and Challenges - BaWang Tea Ji has experienced a decline in same-store sales, with a reported 23% year-over-year drop in average monthly GMV per store in Q2 2025 [13]. - The company has faced significant quality control issues, including reports of foreign objects found in products, which have raised consumer trust concerns [14][15]. - As of November 2025, the company has accumulated 2,927 complaints on consumer platforms, indicating ongoing operational challenges [16]. Group 3: Expansion and Growth Metrics - BaWang Tea Ji has rapidly expanded its footprint, reaching over 6,000 stores globally by the end of 2024 and achieving a membership base of 178 million [11]. - The company was noted for its aggressive growth strategy, aiming to open 1,000 new stores annually prior to its IPO [11].