高盛：茶姬控股-中国消费调研要点
Goldman Sachs·2025-06-19 09:47
June 15, 2025 03:05 PM GMT Chagee Holdings Ltd | Asia Pacific China Consumption Trip Takeaways Key Takeaways Near-term trend: Unit GMV in China sequentially improved in May vs. Apr driven by healthy new SKU sales, increasing delivery orders and better seasonality. Food aggregator subsidies have disrupted the company's product pricing in the short term. Chagee is focusing on strengthening its products and branding rather than relying on food aggregator promotions, but needs to monitor the impact to its busin ...