Group 1 - The recent wave of bubble tea companies going public does not signify the end of intense competition in the industry over the past 20 years, but rather aims to accumulate resources for future overseas expansion [1] - Bawang Chaji's market value soared to over 50 billion RMB on its debut in the US stock market [2] - This year marks the third bubble tea company to go public, following Guming and Mixue Ice City, with the latter achieving a market value approaching 200 billion RMB [3] Group 2 - The surge in bubble tea companies going public is driven by their strong performance in the capital market [5] - The business model of these bubble tea brands primarily revolves around franchising, with a significant portion of their revenue coming from selling equipment and materials to franchisees rather than direct sales to consumers [11][13] - The majority of revenue for brands like Mixue Ice City and Guming comes from franchise fees and sales of raw materials, with franchise stores making up over 99% of their outlets [17] Group 3 - The current wave of listings is essentially the capital market investing in China's supply chain, as many suppliers to these bubble tea brands have already gone public [24][25] - The capital market's interest in these brands is akin to the relationship between Apple and its suppliers, where the brand itself holds the most value in the supply chain [26][30] - The successful listings of these bubble tea brands indicate that the capital market has found an effective way to price the Chinese supply chain [34] Group 4 - The reason for the recent surge in listings is to secure financing for future expansion, particularly in overseas markets, especially Southeast Asia [36][41] - Southeast Asia presents a rapidly growing market for bubble tea, with an expected market size of around 50 billion USD by 2028 and a compound annual growth rate of nearly 20% [41] - Companies like Mixue Ice City and Guming are establishing local supply chains in Southeast Asia to support their expansion efforts [42]

出海。 作者 I 周佳丽 报道 I 投资界PEdaily 中国茶饮赴美第一股诞生了。 投资界-天天IPO获悉，北京时间4月17日晚间，茶姬控股有限公司（简称：霸王茶姬）正式在纳斯达克挂牌上市， 成功筹集4.11亿美 元。此次IPO，霸王茶姬发行价28美元， 开盘大涨至33 .75美元，市值一度冲破7 5亿美元（约超540亿元人民币）。 这是首个登陆美股的中国新茶饮品牌，年仅3 0岁的创始人张俊杰站上敲钟舞台。他来自云南，草根出身却成功逆袭：没上过学，早年 间在奶茶店当学徒，摸爬滚打直到2017年创办霸王茶姬，从云南茶马古道走向世界——目前已在全球开出超64 00家门店，GMV超100 亿元。 左为：霸王茶姬董事会主席、CEO张俊杰 眼前的世界变化不断，此时赴美上市吹响了出海号角，尤其引人注目。 30岁，他IPO敲钟 霸王茶姬开出了6400家 张俊杰称得上是近年商业江湖中让人惊讶的存在。 这位来自云南的年轻创始人鲜少对外谈起自己的早年经历。直到20 24年5月，霸王茶姬在上海开了一场发布会，外界才渐渐知晓张俊杰 和霸王茶姬演绎了一个怎样的逆袭故事。 那天，他回忆起自己的草根出身：没有学历、没有家庭背景。如今则是 ...

"再怎么 '卷'，短期内也不会改变美国的商业环境。" 文丨陈晶 编辑丨管艺雯 中国的茶饮公司正准备去全球消费能力最强、但挑战也巨大的美国市场扩张。它们不仅要开店做生意，更 希望能在海外建立品牌。 我们了解到，中式茶饮品牌霸王茶姬准备 2025 年春季在美国开店，首批门店将落地加利福尼亚州的尔湾 市和洛杉矶市，尔湾市也将成为霸王茶姬美国的总部所在地。 此前欧美消费者更熟悉的贡茶、一芳、老虎堂等起源于中国台湾的奶茶品牌，更多使用珍珠、植脂末等原 料，在海外采用加盟模式扩张；而以霸王茶姬、喜茶为代表的新式茶饮品牌，主要使用水果、鲜奶等原料， 霸王茶姬在海外先开出自营店，跑通模式后再开放加盟，喜茶则只开放单店、多店加盟，总部在当地设采 购、督导团队，严格把控选址、原料配方等。 新一代茶饮品牌们带着 "降维" 打击的心态，希望以更优质的产品、更长期的品牌投入，真正在海外建立品牌 影响力，但它们落地后才发现，海外市场太过分散，扩张速度远慢于中国这样的统一大市场，如何保障供应 链、在人生地不熟时迅速找到靠谱的合作伙伴、扩大一个陌生品牌的本地影响力，是茶饮品牌出海普遍面临 的三大难关。 | 品牌 | 海外首店 | 海外门店 ...