The wave of IPOs in the modern tea beverage industry
On March 6, the China Securities Regulatory Commission issued the "Filing Notice for Overseas Issuance and Listing of Chagee Holdings Limited (Chagee Holdings Limited)", indicating that Chagee Holdings Limited plans to issue no more than 64,731,929 ordinary shares and list on either the NASDAQ Stock Market or the New York Stock Exchange in the United States. Chagee responded, "The company is in a quiet period, and all information should be based on regulatory disclosures."
In November 2017, Chagee, inspired by the Ancient Tea Horse Road, started its journey in Yunnan. After expanding into multiple domestic provinces and cities, Chagee quickly embarked on its "overseas expansion" journey. In 2019, it successively entered the markets of Singapore, Malaysia, and Thailand.
On May 2024, Zhang Junjie, founder and CEO of Chagee, shared the operating data of Chagee: in 2023, Chagee's GMV reached CNY 10.8 billion, and in the first quarter of 2024, it was CNY 5.8 billion. It is expected that the GMV in 2024 will exceed CNY 20 billion.
The competition in the modern tea beverage market is becoming increasingly fierce, with leading brands accelerating their layouts and clustered IPOs emerging.
On February 12, 2025, Goodme (01364.HK) was listed on the Hong Kong Stock Exchange. On March 3 of the same year, Mixue Group (02097.HK) was listed on the Hong Kong Stock Exchange. On its debut day, the opening price was HKD 262 per share (CNY 244 per share), hitting a high of HKD 298 per share and closing at HKD 290 per share, up 43.21% from the issue price, with a corresponding total market value of HKD 109.347 billion. On April 23, 2024, ChaBaiDao was successfully listed on the Hong Kong Stock Exchange. On June 30, 2021, Nayuki was listed on the Hong Kong Stock Exchange.