霸王茶姬（CHA）今日盘中股价大幅下跌5.23%，引发市场广泛关注。此次股价波动主要与公司最新财报表现及战略调整有关。
消息面上，霸王茶姬三季度财报显示，其中国市场GMV同比下降6.16%，净利润降至4亿元，较去年同期下滑明显。公司明确表示未参与外卖平台的“补贴大战”，这一战略虽坚守品牌长期价值，但短期内导致订单分流和业绩承压。
此外，霸王茶姬近期启动战略转型，计划将上海244家加盟店转为直营模式。这一重大运营调整涉及复杂的注销与新设流程，可能带来短期成本上升和管理挑战，进一步加剧投资者对盈利能力的担忧。
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