Group 1 - Southeast Asia is a primary overseas market for BaWangChaJi, with the recent opening of three stores in the Philippines marking its entry into the country [1] - The three stores in the Philippines are located in key business districts of the Metro Manila area, selling over 23,000 cups within the first three days of operation [1] - BaWangChaJi has expanded its overseas store count to 208, covering markets including Malaysia (178 stores), Singapore (16 stores), Indonesia (8 stores), Thailand (5 stores), and the United States (1 store) [1] Group 2 - In Q2, BaWangChaJi's overseas market GMV reached 235.2 million yuan, representing a year-on-year increase of 77.4% and a quarter-on-quarter growth of 31.8% [1] - In contrast, the average monthly GMV per store in the Chinese market was 404,350 yuan, with same-store GMV declining by 23% year-on-year [1] - The decline in the Chinese market is attributed to strong comparative data from Q2 2024 and intensified price competition on delivery platforms, which has temporarily diverted some customer traffic [1] Group 3 - Southeast Asia is often the first destination for new tea beverage companies due to low labor costs, proximity to China, and a significant Chinese population [3] - Other companies, such as Nayuki and Cha Bai Dao, are also expanding in Southeast Asia, with Nayuki opening a store in Chiang Mai, Thailand, and Cha Bai Dao entering the Singapore market [3] - The opening of new stores in Southeast Asia has seen significant customer interest, with one store experiencing wait times exceeding 2 hours [3]