Chinese tea-drinks chain CHAGEE, listed in New York, has posted second-quarter 2026 results that point to a clear slowdown at home and rapid growth abroad. Net revenues rose just 2.5% to RMB 3.41 billion (about US$503 million), while operating income jumped almost fivefold to RMB 524.7 million.
GAAP net income came in at RMB 464.8 million (US$68.5 million), up from RMB 77.2 million a year earlier. As of 30 June 2026 the network had reached 7,639 teahouses, 8.5% more than a year before; 6,756 of them are franchised.
Overseas expansion remains the main engine: total gross merchandise value outside China grew 114.3% year on year, a sign that the freshly-brewed tea format is gaining ground in other markets across Asia and the Americas.
Source: Inside Retail Asia