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Chagee Holdings, a Chinese bubble tea chain, has filed for an initial public offering (IPO) in the United States, seeking to raise $100 million. The filing indicates a strong revenue surge, with a reported 173% increase in gross merchandise value (GMV) for 2024. This move reflects growing confidence in the consumer sector of China's market, as noted by industry experts. The company is recognized as a leading brand in premium tea drinks, offering a range of healthy and freshly-made beverages. The IPO filing comes amid a competitive landscape for beverage companies in the U.S., with prior issues faced by other Chinese brands like Luckin Coffee still lingering in investor minds.
Mixue Group [HKG: 2097] opened up 1.1% today after the Chinese bubble tea chain said its net profit rose 40% CNY4.5 billion (USD613 million) and revenue jumped 22% to CNY24.8 billion (USD3.42 billion) last year from the year before. https://t.co/EiTH2PLubE
More US hot and cold beverage competition coming slowly. @CNBC notes the prior Luckin SEC fiasco as a potential overhang. Look at the very dense F-1 filing link. RT: Chinese tea chain Chagee files for U.S. initial public offering https://t.co/PEiA0uEtFB
Chinese tea chain Chagee filed for a US IPO on Tuesday. The successive listings of Chinese new-style tea drink brands reflect the capital market's confidence in China's consumer sector, an expert said on Wednesday. https://t.co/H9rzS8orRE
