Pedestrians pass by the Chagee store in Shanghai in China on March 14, 2025.
Cfoto | Future publication | Getty Images
The Chinese Chain of Teaples Chagee filed for the initial public offer of the US on Tuesday, trying to trade on Naddaq using the “CHA” label.
IPO application comes while the company is preparing to open its first US store at Westfield Century City Mall this spring.
Since its establishment in 2017, the company has grown to more than 6,400 teasers across China, Malaysia, Singapore and Thailand, from December 31, according to a regulatory submission. About 97% of his locations are in China.
Chagee said he generated a net revenue of $ 344.5 million from a $ 1.7 billion revenue in 2024.
The founder and executive director Junjie Zhang created a chain to modernize tea drinking after being inspired by the success of international cafes, it is stated in regulatory submission. China is Starbucks’s second largest market.
Looking in advance, Chagee wants to “serve tea lovers in 100 countries, generate 300,000 employment options around the world and deliver 15 billion cups of freshly cooked tea annually,” the company’s website states.
If Chagee publishes the public for Nasdaq, he will join a solemn number of Chinese companies looking for an American list. From January 2023 to January 2024, the number of Chinese companies listed on the three largest US stock exchanges fell by 5%, according to The United States Economic and Security Commission.
As the relationship between the US -Ai Beijing became Frostier, political supervision surpassed the hopes of some Chinese companies into American IPO. Shein now plans London IPO for later this year MPs pushed out on plans to publicly occur to American exchange.
American investors could also be careful to invest in another Chinese drink chain after an example set by Luckin Coffee.
Luckin was founded in 2017 and quickly grew. Until 2019, the Starbucks number in China surpassed and publicly went out to Nasdaq.
But 2020. Happiness revealed that she had that inflated his salewhich resulted in his subtraction from Nasdaq. The company filed for bankruptcy of Chapter 15. Luckin came out of bankruptcy by 2022, minus executives responsible for fraud.
Since then, Starbucks has overcome it as the biggest coffee salesman by sales.
