CHAGEE sees Q3 revenue slip amidst falling franchised teahouse sales

Basic earnings per share were RMB2.07 (US$0.29).

CHAGEE reported total net revenue of RMB3.21b (US$450.7m) in the third quarter of 2025, down from RMB3.54b in the same period of 2024.

Revenue from franchised teahouses fell to RMB2.81b (US$394.9m), compared with RMB3.30b a year earlier, mainly due to fewer cups sold, which reduced total gross merchandise value in the Greater China market.

Franchised teahouses accounted for 87.6% of total net revenue.

Revenue from company-owned teahouses rose to RMB396.7m (US$55.7m), up 63.8% from the third quarter of 2024, driven by expansion in both Greater China and overseas.

Company-owned teahouses made up 12.4% of total revenue.

Net income was RMB397.9m (US$55.9m), corresponding to a net margin of 12.4%.

Basic earnings per share were RMB2.07 (US$0.29).

As of 30 September 2025, CHAGEE operated 7,338 teahouses across Greater China and overseas, a 25.9% increase from the same date in 2024.