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Chagee Holdings Q2 2026 financial performance

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2026-08-28 14:35 UTC → 2026-09-01 07:30 UTC · added ~~removed~~

Chagee Holdings Limited reported growth in revenue and profitability for the second quarter of 2026, despite increased competition and a softening macroeconomic environment. Total revenue increased 2.5% year-over-year to RMB 3.41 billion, while GAAP net income rose significantly to RMB 464.8 million (US$68.5 million) from RMB 77.2 million in the previous year. Operating income also saw a surge of 387.6% to RMB 524.7 million. Although the company experienced a sequential decline in total gross merchandise value (GMV) to RMB 7.66 billion, international markets served as a primary growth driver. International GMV saw a 114.3% year-over-year increase ~~to RMB 504 million,~~ across eight international markets, supported by expansion into South ~~Korea, where~~ Korea. In Seoul, three new locations ~~in Seoul~~ reported strong initial ~~sales and app downloads.~~ sales, selling over 16,000 cups within their first three days. By June 30, 2026, the company’s network had grown by 8.5% to 7,639 tea houses, ~~up from 7,038 a year earlier. This network includes~~ including 7,240 locations in Greater China and 399 overseas ~~locations, consisting of both company-owned and franchisee-operated stores.~~ locations. While sales in the core Greater China market fell by 9%, management indicated that the decline in same-store sales in China appeared to ease in July, with expectations for positive growth in August.

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