Chinese language tea chain Chaagee recordsdata for us IPO

On March 14, 2025, pedestrians pass a Chageee business in Shanghai, China.

CFOTO | Future publication | Getty pictures

Chinese Bubble Tea Chain Chagee created a US public offer on Tuesday to act against Nasdaq with the “Cha” ticker.

The IPO entry takes place when the company opened the first US business in the Westfield Century Mall in Los Angeles this spring.

Since its foundation in 2017, the company has grown to more than 6,400 tea houses across China, Malaysia, Singapore and Thailand from December 31. About 97% of its locations are in China.

According to Chageee, it achieved a net result of $ 344.5 million from sales of 1.7 billion US dollars in 2024.

Founder and CEO Junjie Zhang created the chain to modernize the tea drinking after he had inspired himself from the success of international coffee companies. China is Starbucks' second largest market.

With regard to the front, Chaagee wants to serve “tea lovers in 100 countries, generate 300,000 employment opportunities worldwide and deliver freshly brewed tea every year,” says the company's website.

When Chagee comes to the stock exchange on Nasdaq, he will connect the dwindling number of Chinese companies to seek a US list. From January 2023 to January 2024, the number of Chinese companies listed on the three largest US stock exchanges fell, according to the US China Economic and Security China.

Since the relationships between the USA and Beijing have become accessible, the political examination has overthrew the hopes of the Chinese companies on a US IPO. Shein is now planning an IPO in London for later this year after the legislators have pushed its plans back to the stock exchange on a US exchange.

According to the example specified by Luckin Coffee, US investors could also invest in another Chinese beverage chain.

Luckin was founded in 2017 and grew quickly. The number of Starbucks locations in China had superior and went to the stock exchange in the Nasdaq by 2019.

In 2020, however, Luckin announced that it had inflated its turnover, which led to it The Nasdaq. The company reported chapter 15 bankruptcy. Luckin emerged from bankruptcy until 2022, minus the managers who were responsible for the fraud.

Since then, Starbucks has overtaken it as China's largest coffee dealer.

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