Chagee Holdings Ltd., a leading premium tea drinks brand, has announced its unaudited financial results for the first quarter of 2025, ending March 31. The company reported a net income of RMB677.3 million (US$93.3 million), with a net income margin of 20.0%. This represents an increase from RMB595.1 million, or a net income margin of 23.7%, during the same quarter of 2024. Basic and diluted net income per ordinary share was RMB3.92 (US$0.54), compared to RMB3.32 in the same quarter of the previous year. The total GMV for the first quarter of 2025 was RMB8,226.8 million, marking a 38.0% increase from the same period in 2024, driven by growth in both Greater China and overseas teahouses. As of March 31, 2025, Chagee operated a total of 6,681 teahouses, reflecting a 63.6% increase in the number of teahouses from March 31, 2024. This expansion includes both franchised and company-owned teahouses, with notable growth in the Greater China market. Cash and cash equivalents, restricted cash, and time deposits amounted to RMB5,392.4 million (US$743.1 million) as of March 31, 2025, up from RMB4,868.7 million as of December 31, 2024. These results highlight Chagee's continued expansion and increased market presence in the premium tea drinks sector.
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