Mixue Group Gained 1% after Jumping Over 7% on Monday, Hitting Another All-Time High

The firm went public in Hong Kong earlier this year.

It has 45,000 stores in mainland China and 11 other countries through a major franchise network, the filings show.

Mixue, famous for its playful snowman mascot known as Snow King, wearing a crown and a red cloak, has quickly become popular among young consumers in recent years.

It is best known for selling fruit and tea drinks, coffee and ice cream, typically at a cost of about $1, it said.

By the end of September, over 99% of Mixue Bingcheng's more than 45,000 stores were franchised, its regulatory filings showed, though the company does not primarily depend on franchise fees for its income.

Franchise fees made up just 2.4% of total revenue in the first three quarters of 2024, its filing showed.