top of page

Chagee Reports US$1.71 Billion Revenue Surge Ahead of U.S. IPO

  • Writer: THE CHINA NOW
    THE CHINA NOW
  • Mar 31
  • 2 min read

Photo by THE CHINA NOW
Photo by THE CHINA NOW

Summary


  • Chagee, a Chinese premium tea chain, revealed a nearly threefold revenue increase to US$1.71 billion in 2024, as it prepares for a U.S. initial public offering (IPO).

  • The company operates 6,440 teahouses, with most of its locations in mainland China.

  • Chagee's net income surged 213%, reaching 2.51 billion yuan, as it capitalizes on strong demand for discretionary consumer goods.



Chinese premium tea chain Chagee has announced a dramatic surge in revenue as it gears up for a highly anticipated U.S. initial public offering (IPO). The company reported a nearly threefold increase in its net revenue for 2024, which rose to US$1.71 billion (12.41 billion yuan), up from US$464 million in the previous year. This significant revenue boost comes as Chagee capitalizes on the growing demand for high-quality tea and the broader recovery in consumer spending.

Want to read more?

Subscribe to thechinanow.com to keep reading this exclusive post.

bottom of page