Core Viewpoint - The Chinese new tea brand Bawang Chaji (NASDAQ: CHA) is reportedly considering a secondary listing in Hong Kong, potentially raising several hundred million dollars, although the company has stated that there are currently no such plans [1]. Company Overview - Bawang Chaji was founded in June 2017 by Zhang Junjie, who has been involved in the milk tea industry since the age of 17 [3]. - The brand has rapidly expanded, currently operating over 7,000 stores globally and boasting more than 200 million registered members [3]. - Bawang Chaji became the first Chinese new tea brand to be listed on NASDAQ in April 2025 [3]. Financial Performance - In the third quarter of 2025, Bawang Chaji reported a net revenue of 3.208 billion yuan, a year-on-year decline of 9.4% [3]. - The net profit attributable to the parent company was 394 million yuan, down 35.8% year-on-year [3]. - Despite maintaining profitability for 11 consecutive quarters, the net profit has seen a year-on-year decline for two consecutive quarters [3]. Sales Performance - Same-store sales in China and overseas decreased by 27.9% and 23.4% respectively, primarily due to a high base from the previous year and intensified market competition [3]. - The CFO, Huang Hongfei, noted that the operational fundamentals of franchisees remain stable, with a low store closure rate [3]. Future Strategy - The company plans to focus on product innovation, brand investment, and improving operational efficiency to drive sustainable growth [3].
霸王茶姬否认赴港二次上市传闻 称“暂无计划”