"一杯幽兰拿铁，半杯都是国风"——在长沙街头排过茶颜悦色长队的人，都懂它的独特魅力。如今，这个靠"新中式"出圈的茶饮品牌，正从消费市场走向资 本舞台。随着港股上市筹备进入关键期，茶颜悦色的每一步动作都牵动着行业神经，这场资本突围战，不仅是它自身的跃迁，更藏着新茶饮行业的未来密 码。 上市提速：从美股到港股的战略转向 最近，茶饮界又有大动作！茶颜悦色母公司湖南茶悦文化产业发展集团有限公司，正快马加鞭地推进港股上市计划。从 2023 年开始，茶颜悦色的上市传闻 就没停过，一会儿说要赴美上市，一会儿又传要在港股敲钟。这次改道港股，明显是在主动适应资本市场环境。 据媒体2025年11月最新报道，茶颜悦色已与中金公司、摩根士丹利签署上市保荐框架协议，计划募集5亿—8亿美元资金，用于供应链升级及全国化布局，当 前机构给出的估值区间为48亿—55亿美元（未获官方确认）。相比之前赴美上市的传闻，港股市场对内地消费品牌的文化认同感更强，政策也更便利—— 2025年5月央行、外管局联合发布的境外上市资金管理新规，明确简化募集资金调回流程，为企业赴港上市提供了政策支持。再看看蜜雪冰城（2025年5月港 股上市）、古茗（2025年1 ...

Core Viewpoint - The article discusses the decline of the once-popular tea brand, Chayan Yuesheng, highlighting the challenges it faces in a competitive market where consumer preferences have shifted towards convenience and simplicity [5][15][27]. Group 1: Market Dynamics - The tea market has become increasingly competitive, with brands like Cha Bai Dao, Mi Xue Bing Cheng, and Gu Ming going public, while Chayan Yuesheng has lost its previous prominence [5][12]. - Consumers now prefer quick and easy access to beverages rather than the elaborate experiences that once characterized brands like Chayan Yuesheng [5][27]. - The brand's initial success was attributed to its unique offerings and reasonable pricing, but it has struggled to maintain this momentum as competition intensifies [7][12]. Group 2: Brand Challenges - Chayan Yuesheng has faced criticism for long wait times and a complicated ordering process, which has led to a decline in customer patience and loyalty [5][13][23]. - The brand's attempts to innovate and expand its product line have not resonated well with its loyal customer base, leading to dissatisfaction with changes in classic offerings [14][15]. - Despite achieving significant profits, the brand's visibility and consumer engagement have diminished, with fewer people aware of its new developments [18][20]. Group 3: Consumer Behavior - The article notes a shift in consumer behavior, where the novelty of waiting in line for a trendy drink has worn off, and customers are now more inclined to seek convenience [27][28]. - The brand's marketing strategies, which once attracted attention, are now perceived as outdated and cumbersome, leading to a loss of appeal among younger consumers [24][27]. - As competition grows, consumers are increasingly drawn to brands that offer faster service and better value, diminishing Chayan Yuesheng's market share [27][28].

Core Viewpoint - The article discusses the decline of the once-popular tea brand, Chayan Yuese, in the competitive tea beverage market, highlighting its struggles with customer retention and brand perception as consumer preferences shift towards convenience and simplicity [3][5][46]. Group 1: Brand History and Initial Success - Chayan Yuese opened its first store in Changsha in December 2013, gaining popularity with its unique branding and poetic drink names [6][8]. - The brand differentiated itself by using fresh milk and original tea, appealing to consumers with a relatively affordable average price of 15 yuan per cup compared to competitors [7][8]. - The brand's early success was bolstered by loyal fans and social media buzz, leading to significant foot traffic and national curiosity [9][12]. Group 2: Current Challenges - Chayan Yuese has faced increased competition from brands like Cha Bai Dao, Mi Xue Bing Cheng, and Gu Ming, which have expanded rapidly while Chayan Yuese has been slower to grow outside its home market [3][26]. - The brand's long wait times and complicated ordering process have frustrated consumers, leading to a decline in its once-loyal customer base [4][22][38]. - Recent product changes and the introduction of seasonal items have not resonated well with loyal customers, causing dissatisfaction [24][46]. Group 3: Market Position and Future Outlook - Despite still being profitable, with a reported net profit of approximately 500 million yuan from 732 stores in 2023, Chayan Yuese's market presence has diminished compared to its peak [18][30]. - The brand has begun to expand more aggressively, opening 266 new stores in 2024, primarily in new first-tier cities, but has yet to enter major markets like Beijing and Shanghai [30][31]. - The brand's recent marketing strategies and product offerings have not generated the same level of excitement as in the past, indicating a need for a renewed approach to attract consumers [32][52].

Group 1: New Store Openings and Market Expansion - The new tea brand Cha Yan Yue Se has opened multiple stores in Jiangsu, with over 80 locations now established, marking it as a key market after Hunan and Hubei [1] - The new tea brand Tian La La has opened 10 new stores in North Sumatra, Indonesia, bringing the total to 127 stores in the country, indicating rapid market expansion in Southeast Asia [2] - Tully's Coffee plans to increase its store count in Japan to 1,000 by 2029, aiming for a growth of approximately 20% to compete with Starbucks [3] Group 2: Innovative Marketing Strategies - Cha Yan Yue Se combines traditional tea culture with modern aesthetics, appealing to young consumers with unique products [1] - Tian La La's brand manager emphasized the importance of innovation in products and services to enhance the brand's influence in Southeast Asia and beyond [2] - Honey Snow Ice City has introduced a delivery service to rural areas in Henan, promoting their products directly to consumers in the fields during the harvest season [4] Group 3: Corporate Developments - Hainan Baolingbao has established a new biotechnology subsidiary with a registered capital of 100 million yuan, focusing on import/export and food sales [5] - Jiahe Food announced that a shareholder plans to reduce their stake by up to 520,800 shares, representing 1.15% of the company's total equity [6]