Core Viewpoint - Starbucks is actively seeking strategic partners that share its vision and values, while evaluating over 20 interested institutions, with the intention of retaining a significant equity stake in its China operations [1][3] Financial Performance - For the third fiscal quarter of 2025, Starbucks reported total revenue of $9.456 billion, representing a year-over-year increase of 3.8%, while net profit attributable to shareholders was $558 million, down 47.1% year-over-year [1] - In the Chinese market, Starbucks' revenue for the quarter grew by 8% to $790 million, with same-store sales increasing by 2%, and both same-store transaction volume and average ticket size showing sequential improvement [1] Market Expansion - As of the end of the third quarter, Starbucks had a total of 7,828 stores, having opened 70 new locations and entered 17 new county-level markets [3] - In response to intense competition in the Chinese market, Starbucks has reduced prices on "non-coffee products" and enhanced consumption during lunch and evening periods [3] Strategic Considerations - Reports from last November indicated that Starbucks was considering selling equity in its China business, with a valuation estimated between $5 billion to $6 billion, and the transaction expected to continue until 2026 [3] - Starbucks remains confident in the significant growth opportunities within the Chinese market and is focused on revitalizing growth in its China operations while maintaining a positive development trend [3]