Chagee Holdings Limited (CHA) saw its stock price surge 5.31% during Thursday's intraday trading session, reflecting strong investor confidence.
The rally follows the company's announcement of establishing Heilongjiang Chagee Enterprise Management Co., Ltd., a new subsidiary with a registered capital of 1 million yuan. This strategic move into Heilongjiang province signals Chagee's commitment to expanding its business operations, which has been well-received by the market.
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