霸王茶姬（CHA）今日盘中股价大跌5.37%，引发市场关注。截至盘中11点45分，该股报价30.40美元/股，成交量达106.084万股，换手率0.58%，振幅7.34%。
分析人士指出，霸王茶姬股价下跌可能与其加盟业务面临的挑战有关。据悉，2024年新签约加盟商的回本周期已普遍延长至18-24个月，远超品牌此前承诺的12-15个月。更值得注意的是，霸王茶姬的加盟申请通过率已从2023年的30%以上骤降至2025年的不足5%，其中江浙沪等核心地区甚至低于1%。这些数据表明，公司的加盟扩张战略可能遭遇瓶颈，影响了投资者信心。
作为"中国新茶饮美股第一股"，霸王茶姬于2025年4月17日在纳斯达克上市，上市首日市值一度突破75亿美元。然而，随着加盟业务增长放缓的迹象显现，市场对其未来增长前景产生了担忧。公司最新财报显示，霸王茶姬实现营业收入17.24亿美元，净利润3.38亿美元，每股收益1.09美元。尽管财务表现稳健，但加盟业务的不确定性可能成为影响公司长期发展的关键因素。
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