From CNBC: 2025-03-25 14:18:00

Chinese bubble tea chain Chagee filed for a U.S. IPO to trade on the Nasdaq as “CHA.” It plans to open its first U.S. store in Los Angeles this spring, with over 6,400 teahouses across China, Malaysia, Singapore, and Thailand. Chagee reported net income of $344.5 million from $1.7 billion revenue in 2024.

Chagee’s founder, Junjie Zhang, aims to modernize tea drinking globally. The company wants to reach tea lovers in 100 countries, create 300,000 jobs, and serve 15 billion cups of tea yearly. If Chagee goes public, it will be among the few Chinese companies listing in the U.S., with some opting for other markets due to political tensions.

Chinese beverage chain Luckin Coffee faced a similar trajectory, growing rapidly to surpass Starbucks in China but later faced a scandal involving inflated sales. Luckin was delisted from the Nasdaq, filed for bankruptcy, and reemerged in 2022. Despite the setback, Luckin has become China’s top coffee retailer by sales, surpassing Starbucks.



Read more at CNBC: Chinese tea chain Chagee files for U.S. IPO