Chagee reports Q2 2026 revenue growth and rising profitability

Chagee Holdings Limited reported a rise in second-quarter 2026 revenue and profitability despite a softening macroeconomic environment and increased competition. Total revenue grew 2.5% year-over-year to RMB 3.41 billion, while GAAP net income reached RMB 464.8 million, a significant increase from RMB 77.2 million in the same period last year.

While the company saw a sequential decline in total gross merchandise value (GMV) to RMB 7.66 billion, overseas markets emerged as a major growth driver. International GMV rose 114.3% year-over-year to RMB 504 million. This expansion includes a recent entry into South Korea, where three new tea houses in Seoul reported high initial sales and app downloads.

As of June 30, 2026, Chagee’s network expanded to 7,639 tea houses, up from 7,038 a year prior. The network consists of 7,240 locations in Greater China and 399 overseas locations, comprising both company-owned and franchisee-operated stores.