Chinese tea chain chagee for us ipo

The Chinese Tea Bubble Network filed on Tuesday in the US, which sought to trade on NASDAQ using Ticker “Cha”.

The IPO supply comes when the company is preparing to open its first American store at the Westfield Century shopping center in Los -Angeles this spring.

Since its founding in 2017, the company has grown to more than 6400 tea houses in China, Malaysia, Singapore and Thailand, as of December 31, reports A regulatory supply. Approximately 97% of its places are in China.

Chagee said it brought a net profit of $ 344.5 million from $ 1.7 billion in 2024.

Founder and CEO Gundji Zhang has created a network to upgrade tea after inspiration for the success of international coffee companies, according to a regulatory application. China-second-in-size market Starbucks.

Going forward, Chagee wants to “serve tea fans in 100 countries, create 300,000 employment opportunities worldwide, and deliver 15 billion cups of freshly dear tea annually,” the company’s website reports.

When Chagee becomes public on NASDAQ, it will join in the number of Chinese companies looking for a US list. From January 2023 to January 2024. The number of Chinese companies specified on the three largest exchanges in the US decreased by 5%, reports Consideration Commission on Economic and Chinese and China.

As relations between the US and Beijing became more frosty, political care has thwarted the hopes of Chinese companies on the US IPO. Now Shane plans London IPO for next year after Legislators pushed back About their plans to go to the public on the US exchange.

US investors can also be cautious to invest in another Chinese beverage network after an example set Luckin Coffee.

Lukin was founded in 2017 and rapidly grew. Until 2019, it exceeded the number of STARBUKS seats in China and became public on NASDAQ.

But in 2020, Lakin revealed that he had inflated their salesleading to its deviation from Nasdaq. The company applied to the bankruptcy of the head 15. Lukin went out of bankruptcy by 2022, deducted by the executives who were responsible for fraud.

Since then, it has overtaken Starbucks as the largest sales coffee in China.