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Pedestrians pass through a Cheagee store in Shanghai, China, on March 14, 2025.
Cfoto | Future publication | Getty images
The Chinese Bubble tea chain Cheagee requested an initial public offer from the USA on Tuesday, seeking to trade with the Nasdaq using the “cha” ticket.
OPI’s presentation occurs when the company prepares to open its first store in the United States at Westfield Century City Mall in Los Angeles this spring.
Since its foundation in 2017, the company has grown to more than 6,400 tea houses in China, Malaysia, Singapore and Thailand, as of December 31, according to a Regulatory presentation. Approximately 97% of their locations are in China.
Chagee said he generated a net income of $ 344.5 million from revenues of $ 1.7 billion in 2024.
Founder and CEO Junjie Zhang created the chain to modernize the consumption of tea after being inspired by the success of international coffee companies, according to a regulatory presentation. China is the second largest market in Starbucks.
Looking towards the future, Cheagee wants to “serve tea lovers in 100 countries, generate 300,000 employment opportunities worldwide and offer 15 billion cups of newly prepared tea,” according to the company’s website.
If Cheagee becomes public at Nasdaq, it will join the increasing number of Chinese companies looking for a list of the United States. From January 2023 to January 2024, the number of Chinese companies that appear in the three largest US exchanges. The United States and China Security and Security Commission.
As relations between the United States and Beijing have become more ice cream, political scrutiny has reduced the hopes of some Chinese companies of an opi from the United States. Shein is now planning an IPO of London for later this year later The legislators retreated in their plans to make public in an exchange of USA.
American investors could also be cautious to invest in another Chinese drink chain after the example established by Luckin Coffee.
Luckin was founded in 2017 and grew rapidly. For 2019, he had surpassed the number of Starbucks locations in China in number and was made public at Nasdaq.
But in 2020, Luckin revealed that there were inflated their salesresulting in its exclusion from The Nasdaq. The company declared in bankruptcy of Chapter 15. Luckin emerged from bankruptcy by 2022, except the executives responsible for fraud.
Since then, he has surpassed Starbucks as China’s largest coffee retailer for sales.
