"外卖大战"席卷整个新茶饮行业，各大平台纷纷推出高额补贴争夺市场。在这场近乎惨烈的竞争中，霸王茶姬凭借全球化布局和价值优先战略 冲出了重围。 近日，霸王茶姬交出了第二季度的成绩单。财报显示，二季度其海外 GMV 为 2.352 亿元，同比大增 77.4% ，环比增长 31.8% ，海外业务逐 渐成为重要的驱动引擎。 【如需和我们交流可扫码添加进社群】 过去，霸王茶姬一直在尝试走出一条自己的路，而今来看，已经成功跨出第一步。 全 球 化 布 局 成 效 显 著 海 外 业 务 成 增 长 新 引 擎 财报数据显示，二季度，霸王茶姬总 GMV 达 81.031 亿元，同比增长 15.5% ；对应净收入达到 33.319 亿元，同比增长 10.2% ；调整后净利 润为 6.298 亿元，对应的调整后净利率为 18.9% 。 与此同时，霸王茶姬的全球化战略在本季度取得了突破性进展。二季度，霸王茶姬海外 GMV 同比、环比均实现双位数增长。 截至 6 月 30 日，霸王茶姬在海外拥有 208 家门店，其中马来西亚 178 家、新加坡 16 家、印度尼西亚 8 家、泰国 5 家、美国 1 家。上半年海 外门店净增 52 ...

Core Insights - Bawang Chaji Holdings Limited reported a total GMV of 8.1031 billion yuan for Q2 2025, representing a year-on-year growth of 15.5%, with net revenue reaching 3.3319 billion yuan, up 10.2% year-on-year [2] - The adjusted net profit for the quarter was 629.8 million yuan, corresponding to an adjusted net profit margin of 18.9% [2] - The company emphasizes brand value and product innovation as core strategies, maintaining double-digit revenue growth and stable profitability [2] Financial Performance - The overseas GMV for Bawang Chaji reached 235.2 million yuan in Q2, showing a significant year-on-year increase of 77.4% and a quarter-on-quarter growth of 31.8% [2] - As of June 30, the company operated a total of 7,038 stores globally, including 208 overseas locations [2] - The net increase of overseas stores in the first half of the year was 52 [2] Market Expansion - Bawang Chaji successfully entered the Indonesian market, opening 8 stores, and has also expanded into Vietnam and the Philippines [3] - The first store in Jakarta achieved over 10,000 cups sold in the first three days, attracting more than 35,000 registered users during the opening period [3] - The first North American store in Los Angeles sold over 5,000 cups on its opening day [3] Strategic Positioning - The company has chosen not to engage in the ongoing "takeout war" among internet platforms, yet it has maintained stable growth in GMV and net revenue [4][5] - Bawang Chaji's strategy focuses on high-value branding and operational efficiency through technological innovation, avoiding price wars that could harm long-term sustainability [5] - The company reported a monthly average GMV of 404,350 yuan per store in Greater China, with a year-on-year decrease of 23% due to a strong comparative base and competitive pressures [5] Membership and Customer Engagement - The company has seen a significant increase in registered members, surpassing 206.9 million, with a net increase of 14.55 million in the quarter, reflecting a year-on-year growth of 42.7% [5] - 73.9% of orders are from repeat customers, indicating a strong consumer willingness to pay for quality [5] Future Outlook - Bawang Chaji plans to initiate a comprehensive upgrade of core raw materials in the second half of the year, covering all key categories such as tea leaves, milk sources, and syrups [6]