Pedestrians pass by the Chagee store in Shanghai in China on March 14, 2025.
Cfoto Future publishing house Getty images
CHAGEE CHAGEE from Chinese bubble made an initial public offer in the USA on Tuesday, trying to exchange Nasdaq with the help of “Cha”.
The IPO application appears when the company is preparing to open its first American store at Westfield Century City Mall in Los Angeles this spring.
Since its establishment in 2017, the company increased to over 6,400 tea room in China, Malaysia, Singapore and Thailand, as at December 31, according to A regulatory notification. About 97% of its location is in China.
Chagee said that he generated net income of USD 344.5 million from revenues of USD 1.7 billion in 2024.
The founder and general director of Junjie Zhang created a chain to modernize drinking tea after he was inspired by the success of international coffee companies in accordance with the regulatory notification. China is the second largest Starbucks market.
Looking to the future, Chagee wants to “give tea lovers in 100 countries, generate 300,000 employment opportunities around the world and deliver 15 billion cups of freshly brewed tea”, according to the company's website.
If you make it public, it will join the decreasing number of Chinese companies looking for a list in the USA. From January 2023 to January 2024, the number of Chinese companies listed on the three largest exchanges in the US fell by 5%, according to Commission for the Review of Economy and Security of the USA-China.
Because relations between the USA and Beijing became frosty, political control had the hopes of Chinese companies at IPO in the USA. Shein is now planning London IPO a year later The legislators pushed themselves About your plans to make public on the US Stock Exchange.
American investors may also watch out for investing in another Chinese chain of drinks after an example set by Luckin Coffee.
Happiness was founded in 2017 and grew quickly. Until 2019, he exceeded the number of Starbucks locations in China and made public in Nasdaq.
But in 2020 Luckin revealed that it was so He overstated his saleswhich caused a break Nasdaq. The company applied for bankruptcy in Chapter 15. Happiness emerged from bankruptcy until 2022, minus management who were responsible for fraud.
Since then, he overtook Starbucks as the largest Chinese coffee seller by sale.