Core Insights - Starbucks China reported strong performance in Q4 of FY2025, with revenue growth and improved profit margins, indicating a successful recovery trajectory in the market [1][2] Financial Performance - Revenue for Q4 increased by 6% year-on-year, reaching $831.6 million, while total revenue for FY2025 grew by 5% to $3.105 billion [1] - Same-store sales rose by 2%, with a 9% increase in transaction volume, and operating profit margins remained in double digits [1] Growth Drivers - The growth in same-store sales is attributed to multi-dimensional innovation, including product innovation, expansion of the delivery channel, and enhanced membership benefits [1] - The newly launched tea latte series and breakfast sandwich offerings have contributed to increased sales, particularly during afternoon hours [1] Store Expansion - In Q4, Starbucks opened 183 new stores and entered 47 new county-level markets, totaling 415 new stores for FY2025 [2] - As of the end of FY2025, Starbucks operates 8,011 stores across 1,091 county-level cities in China [2] Operational Efficiency - New stores have maintained high profitability levels, with new openings contributing above-average same-store sales within two years [3] - The CEO emphasized the company's commitment to sustainable high-quality growth in the Chinese market, supported by over 60,000 partners delivering exceptional service [3]

Core Insights - Starbucks reported strong performance in Q4 and full fiscal year 2025, with continuous revenue growth in the Chinese market for the fourth consecutive quarter and positive same-store sales growth for the second consecutive quarter [1] Revenue Performance - The company's revenue growth is attributed to innovative product offerings, expansion of the profitable delivery channel, and enhanced membership benefits in the Starbucks Rewards program [1] Same-Store Sales Growth - The increase in same-store sales is driven by multi-dimensional innovation, including the launch of the new tea latte series that has expanded non-coffee options and boosted afternoon sales, as well as new breakfast sandwich offerings tailored to Chinese consumer preferences [1] Delivery Channel Growth - The delivery business, leveraging new platform traffic growth and user subsidy policies, continues to show strong growth momentum [1] Membership Growth - As of the end of the fiscal year, the number of active members in the Starbucks Rewards program reached a record high of 25.5 million [1]

Core Points - China Eastern Airlines (CEA) and Starbucks China have officially launched a comprehensive partnership to create a new "Aviation + Coffee" cross-industry ecosystem experience for their nearly 200 million members [1][6] - The partnership allows for mutual member benefits, including free airport beverages and Wi-Fi for travelers and consumers [1] Group 1: Membership Benefits - CEA's "Eastern Miles" and Starbucks' "Star Club" will have fully integrated member benefits, allowing members to enjoy various perks through official channels [4] - Members of CEA can receive a free medium coffee at Starbucks locations in airports on the day of their flight, while Starbucks' Diamond members can enjoy free in-flight Wi-Fi after making a purchase at Starbucks [4] - Activation bonuses include CEA members receiving one Starbucks star upon activating their Starbucks membership, and Starbucks members receiving 100 CEA mileage points upon activating their CEA membership [4] Group 2: Promotional Activities - The partnership will leverage CEA's global route network and Starbucks' over 7,700 stores in China to launch "Aviation + Coffee" themed cultural tourism activities [5] - Joint initiatives will include "green flight" projects to promote low-carbon travel and environmental awareness [5] - CEA will support the Yunnan coffee industry by launching "Yunnan Coffee Themed Flights," allowing members to taste Yunnan coffee at high altitudes [5]