八马茶业“破发”,资本不信“慢故事”

数智研究社
Nov 12, 2025

茶,本质上是一个需要风土、工艺和时间沉淀的“慢故事”,资本市场则追求可复制、可规模化的“快增长”。从大益茶的金融风波,到泛茶、昌世等“金融茶”模式的崩盘,都在反复印证一个事实:中国茶的故事,与资本的逻辑似乎天然区隔。文 |万 芙“高端中国茶第一股”,八马茶业在高位仅仅维持了10个交易日。2025年11月11日,这家历经13年IPO长跑的茶企,盘中触及49.22港元/股的低点,跌破50港元/股的...

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