Recently, CHABAIDAO held its 2025 interim results conference, revealing multiple phased achievements. In terms of stores, CHABAIDAO's terminal store performance showed significant improvement, with the company's second-quarter daily average GMV per store reaching the highest quarterly level in nearly a year, up approximately 15% quarter-over-quarter from Q1. On the product front, new product sales in Q2 accounted for 28% of total sales volume. Additionally, in line with supply chain development characteristics, the company is promoting centralized and standardized production for more SKUs. At the franchise store level, payback periods have further shortened and store profitability has strengthened.

Financial results show that CHABAIDAO achieved double growth in revenue and profit in the first half, with total revenue reaching 2.5 billion yuan, up 4% year-over-year, gross profit of 815 million yuan, gross margin of 32.6%, and period profit increasing to 333 million yuan, up 40% year-over-year. In the first half of 2025, CHABAIDAO launched a total of 55 new products. Public reports indicate that CHABAIDAO's pioneering "Real Fresh Ice Milk" series has sold nearly 20 million cups. In terms of supply chain capacity building, CHABAIDAO now operates 26 national warehousing centers nationwide, covering an area of 220,000 square meters.

According to the financial report, CHABAIDAO's store count increased to 8,444, with franchise partners reaching 5,833 and registered members exceeding 160 million. As of June 30, the group's stores cover tier-1, new tier-1, tier-2, tier-3, and tier-4 and below cities, accounting for 9%, 25%, 20%, 19%, and 26% respectively. Among these, stores in tier-4 and below cities grew 9% year-over-year.

At this results conference, CHABAIDAO's management introduced that based on continuous optimization of the store network, terminal performance has steadily improved, and phased promotional activities through external channels have further driven store sales. Overall, second-quarter daily average GMV per store reached the highest quarterly level in nearly a year, up approximately 15% quarter-over-quarter from Q1.

CHABAIDAO stated that compared to the same period last year, franchise partner operations have significantly improved, with average payback periods shortened by 1-2 months. This improvement stems from multiple factors, including the company's product development strategy transformation from previous supply chain-driven product development innovation to consumer demand-oriented product development. In the first half, CHABAIDAO also developed a dedicated product matrix and menu specifically for the Shanghai region, achieving good results. The company plans to replicate Shanghai's experience in other regions.

Regarding phased external channel subsidies, CHABAIDAO's management indicated that due to the company's higher proportion of stores in high-tier cities, consumers prefer food delivery channels for product access. Phased external channel subsidies have also played a promotional role in terminal store sales.