CHAGEE HLDGS Stock Price, News & Analysis

Chagee Holdings Limited (NASDAQ: CHA) is a premium tea drinks brand that focuses on healthy, freshly-made tea beverages. According to the company’s public statements, Chagee has transformed traditional tea culture into a modern lifestyle experience by serving freshly-prepared tea drinks that emphasize taste, quality and cultural connection. The company describes itself as a modern tea culture brand that connects people with tea, culture and one another through its teahouses and product offerings.

Chagee was founded in 2017 and is headquartered in Shanghai, China. The company’s American Depositary Shares trade on the Nasdaq Stock Market under the ticker symbol CHA. In April 2025, Chagee completed its public listing on Nasdaq, and a press release notes that it became the first freshly made tea beverage brand from China to list on a U.S. stock exchange. The company reports that it serves healthy and delicious freshly-made tea drinks and that it has developed a tea beverage composed of extracted original tea leaves and dairy.

Business model and teahouse network

Chagee operates a large network of teahouses in Greater China and overseas. Company disclosures state that its network includes both franchised teahouses and company-owned teahouses. Net revenues are reported from these two sources, with franchised teahouses representing the majority of total net revenues in recent periods and company-owned teahouses contributing a smaller but growing share. Chagee’s financial reports describe net revenues from franchised teahouses as driven by the expansion of its franchised teahouse footprint and the sale of materials to franchised locations, while revenues from company-owned teahouses are associated with the operation of stores directly managed by the company.

The company regularly discloses the number of teahouses in its network and distinguishes between Greater China and overseas markets. Its operating data tables show that the total number of teahouses has increased over time, with growth in both franchised and company-owned formats. Chagee also tracks metrics such as gross merchandise value (GMV) generated by teahouses and average monthly GMV per teahouse in Greater China, which it uses to measure sales performance and teahouse productivity.

Geographic footprint and markets

Chagee’s public communications highlight a growing international presence. The company’s 2025 Year-End Tea Friends Review notes that its store network operates in China, Malaysia, Indonesia, the Philippines, Vietnam, Thailand, Singapore, and the United States, spanning eight countries across two continents. Earlier announcements also mention teahouses in mainland China and Hong Kong. The company has described Malaysia as a flagship international market and has referenced launches in Indonesia, the Philippines and Vietnam, alongside established markets such as Singapore, Malaysia and Thailand.

In addition to Greater China, Chagee reports overseas GMV and the number of overseas teahouses in its quarterly operating data. The company has also highlighted its Asia-Pacific overseas membership base, noting growth in membership and engagement in markets such as Singapore, Thailand, Indonesia and the Philippines. These disclosures underscore a strategy that includes both domestic expansion and overseas market development.

Products, tea culture and customer engagement

Chagee describes itself as a premium tea drinks brand serving healthy and delicious freshly-made tea drinks. The company states that it has transformed traditional tea culture into a modern lifestyle experience and that it seeks to create meaningful spaces where traditional tea culture meets modern lifestyle experiences. Chagee’s communications emphasize tea culture, tea-inspired lifestyles and cultural connection through tea.

The company highlights specific product series and beverages in its public materials. For example, it refers to a Fresh Milk Tea series and notes that more than half of new releases in that series have featured floral or fruit elements. Chagee also references a Fresh Brew technology system that applies contemporary extraction techniques to freshly made tea beverage preparation. One of its signature drinks, BO·YA Jasmine Green Milk Tea, is frequently mentioned and has been recognized with the Best Natural/Organic Beverage award at the World Beverage Innovation Awards, according to company press releases. Chagee reports that this beverage has achieved high sales volumes and strong popularity across several Southeast Asian markets.

Chagee also discloses that it offers localized products and collaborations tailored to specific markets and cultural events. Its communications describe culturally inspired product launches, limited-time offerings and campaigns linked to local celebrations. The company’s membership program, accessed through its mobile mini program, is another key element of customer engagement. Chagee reports hundreds of millions of registered members and tens of millions of active members in its operating data, and it uses these metrics to illustrate the scale of its customer base and digital engagement.

Operations, supply chain and tea sourcing

Chagee’s tea sourcing and supply chain activities are a recurring theme in its public updates. The 2025 Year-End Tea Friends Review states that the company’s annual tea sourcing volume has been at approximately the 10,000-ton scale, covering six major tea categories and key Pu’er-producing regions. The company notes that it has partnerships with more than 100 tea factories and that it has undertaken craftsmanship and process innovation initiatives in collaboration with tea gardens, factories and research institutions.

In its financial disclosures, Chagee provides details on costs of materials, storage and logistics, as well as operating costs for company-owned teahouses and other operating costs. The company attributes changes in these costs to factors such as teahouse network expansion, procurement cost controls, supplier base expansion and logistics expenses associated with a growing network. These disclosures provide insight into how Chagee manages its supply chain and cost structure as it scales its operations.

Health, inclusivity and community initiatives

Chagee’s public statements emphasize health, inclusivity and community engagement as part of its brand positioning. The company reports that certain beverages in Malaysia have earned the Healthier Dining Programme logo from the Ministry of Health, based on nutrient criteria including sugar content thresholds. It also notes that its operations in Indonesia have received Halal certification from the Halal Product Assurance Organizing Agency, covering its supply chain.

Chagee highlights several inclusive and community-focused initiatives. Examples include pet-friendly stores, children’s playground support, deaf-inclusive silent stores, 24-hour locations and a Night Clean Project that helps store partners complete end-of-day operations on schedule. The company also references Signing Stores operated by Deaf and hard-of-hearing baristas in Singapore and Vietnam, as well as heritage-inspired concepts such as CHAGEE Pagoda House in Singapore’s historic Chinatown, which combines tea and retail with cultural workshops and community spaces.

Financial reporting and investor information

As a Nasdaq-listed company, Chagee files reports and furnishes information to the U.S. Securities and Exchange Commission. For example, it has furnished current reports on Form 6-K that include press releases detailing unaudited financial results for quarterly periods. These materials discuss net revenues, operating income, net income, non-GAAP net income, operating expenses and key operating data such as GMV, teahouse counts and membership metrics.

The company also discusses the use of non-GAAP financial measures, explaining that it adjusts for share-based compensation expenses when presenting non-GAAP net income and related per-share metrics. Chagee states that management uses these measures to evaluate operating performance and formulate business plans, while also noting the limitations of non-GAAP metrics and providing reconciliations to the nearest GAAP measures.

IPO and capital markets activity

Chagee’s transition to a public company is documented in its press releases. In April 2025, the company announced the pricing of its initial public offering of American Depositary Shares and later reported that underwriters had exercised an over-allotment option to purchase additional ADSs. The company notes that its registration statement on Form F-1 was declared effective and that its shares trade on Nasdaq under the symbol CHA. Chagee has also announced a special cash dividend authorized by its board of directors and described as a distribution to holders of its ordinary shares and ADSs.

In connection with its listing, Chagee participated in a bell-ringing ceremony at Nasdaq MarketSite, which it described as a celebration of its transition to a public company and a milestone in its vision of serving superior tea to markets worldwide. The company’s communications portray its capital markets activities as supporting its growth and expansion plans.

Position within the broader tea and beverage landscape

Chagee’s own descriptions position it as a premium freshly-made tea drinks brand that blends traditional tea culture with modern lifestyle elements. It emphasizes themes of health, cultural connection, inclusivity and innovation in product development and store concepts. While the company operates in the broader food and beverage sector, its disclosures focus specifically on freshly-made tea drinks, teahouse operations and related supply chain and membership systems.

Investors and observers can follow Chagee’s developments through its Nasdaq listing, periodic financial updates, press releases and SEC filings, which together provide ongoing information about its operations, expansion, product initiatives and financial performance.