BAMA TEA (6980) investor relations material

Executive summary

• H1 2026 revenue rose 31.8% YoY to RMB1,401.5m; profit for the period increased 64.8% to RMB197.8m, with EPS of RMB2.33.

• Growth reflected offline and online channel expansion, franchisee procurement, key-account orders, higher tea-leaf sales and increased self-manufactured product sales.

Financial highlights

• Revenue was RMB1,401.5m, up 31.8% YoY; gross profit was RMB765.4m, up 30.3%.

• Profit from operations reached RMB271.5m versus RMB167.1m; profit before tax was RMB267.7m, up 64.2% YoY.

• Profit for the period was RMB197.8m versus RMB120.0m; basic and diluted EPS rose 47.5% to RMB2.33.

• Selling and marketing expenses increased 19.6% to RMB397.4m; advertising and promotion costs were RMB192.6m versus RMB138.1m.

• Net cash generated from operating activities was RMB313.2m versus RMB181.2m; cash and cash equivalents totaled RMB1,079.2m at June 30, 2026.

Outlook and guidance

• Medium- to long-term priorities include omnichannel development, brand and product upgrades, and digital supply-chain enhancement.

• Plans include scaling the Urban Living Room store format, expanding instant retail and key-account channels, and broadening online content-commerce activity.

• Plans call for intelligent production facilities in Anxi, Wuyishan and Yunnan over the next 3–5 years, with supporting smart warehousing and logistics centers.

• Unutilized Global Offering proceeds are expected to be deployed by December 31, 2027, subject to market conditions, strategy and suitable opportunities.