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Chagee (CHA) investor relations material
Chagee Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Teahouse network expanded 40.9% year-over-year to 7,038 locations as of June 30, 2025, with strong growth in both Greater China and overseas markets.
Achieved double-digit year-over-year revenue growth and consistent profitability in Q2 2025, driven by brand value and product innovation.
Registered members grew to 206.9 million, a 42.7% year-over-year increase.
Overseas markets showed strong momentum, with significant store expansion and successful product launches.
Maintained premium brand positioning, resisting industry price wars and focusing on quality and customer experience.
Financial highlights
Q2 2025 revenue reached RMB 3,331.9 million, up 10.2% year-over-year.
GMV increased 15.5% year-over-year to RMB 8,103.1 million.
Non-GAAP net income was RMB 629.8 million, up 0.1% year-over-year; non-GAAP net margin was 18.9%, down from 20.8% last year.
GAAP net income decreased 87.7% year-over-year to RMB 77.2 million, mainly due to IPO-related share-based compensation.
Cash and equivalents totaled RMB 8,886.8 million as of June 30, 2025, more than doubling since year-end 2024.
Outlook and guidance
No formal financial guidance provided for the full year; focus remains on executing long-term growth strategy and delivering lasting value.
Strategic executive hires in North America aim to accelerate overseas expansion and market penetration.
Continued focus on product innovation and global expansion.
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