Chinese Chage Chage files for the tea series for public subscription

The Chinese bubble chain has applied for an American initial public offer on Tuesday, as it seeks to trade on the Nasdaq Stock Exchange using the “Cha”.

The public subscription file comes at a time when the company is preparing to open its first American store in Westfield Center City Mall in Los Angeles this spring.

Since its foundation in 2017, the company has grown to more than 6,400 tius across China, Malaysia, Singapore and Thailand, as of December 31, according to Organizational deposit. Nearly 97 % of its locations in China.

CHAGE said it had achieved a net income of $ 344.5 million in revenues of $ 1.7 billion in 2024.

The founder and CEO Junjie Zhang invented the chain to update tea drinking after it was inspired by the success of international coffee companies, according to a regulatory file. China is the second largest market in Starbucks.

In the future, Chagee wants to “provide tea lovers in 100 countries, generate 300,000 job opportunities around the world, and provide 15 billion cups of newly excessive tea,” according to the company’s website.

If CAGE is published on the Nasdaq Stock Exchange, it will join the contradictory number of Chinese companies that seek to obtain an American list. From January 2023 to January 2024, the number of Chinese companies listed in the three largest American exchanges decreased by 5 %, according to The American -Chinese Economic and Security Review Committee.

Since the relations between the United States and Beijing have grown a frost, the political scrutiny of some of the hopes of Chinese companies in the US public subscription has shattered. Shen is now planning to subscribe to London later this year later Legislators pushed back On its plans for the public on the American Stock Exchange.

American investors may also be cautious about investing in another Chinese drink series after the example of Luckin Coffee.

Luckin was established in 2017 and quickly slept. By 2019, the number of Starbucks sites in China and an public mark on the Nasdaq Stock Exchange exceeded.

But in 2020, Lukin revealed that it was Her sales amplifyWhich led to his removal from Nasdak. The company applied for bankruptcy of Chapter 15. Luckin out of bankruptcy by 2022, minus the executives who were responsible for fraud.

Since then, Starbucks has exceeded the largest retail dealer in China through sales.