NASDAQ$CHA
Chagee Holdings Limited · Q1 2025 earnings
Q1 2025 earnings · · Before market open · Investor relations
Briefing
Chagee Q1 2025: RMB3.39B revenue (+35%), RMB677M net income as teahouse network expands to 6,681 locations
Chagee Holdings reported Q1 2025 total net revenues of RMB3,392.7 million (US$467.5 million), up 35.4% from RMB2,506.6 million in Q1 2024, driven by rapid franchised teahouse expansion. Net income rose 13.8% to RMB677.3 million (US$93.3 million) with a 20.0% net margin versus 23.7% a year ago. Operating income was RMB820.8 million (24.2% margin) compared with RMB705.9 million (28.2%) in the prior-year quarter as sales and marketing spend rose sharply. The company operated 6,681 teahouses globally as of March 31, up 63.6% YoY, with Q1 GMV of RMB8,226.8 million (+38.0%). Registered members reached 192.4 million and active members 44.9 million. Cash, restricted cash, and time deposits totaled RMB5,392.4 million (US$743.1 million).
- Net revenues grew 35.4% to RMB3,392.7M; franchised teahouse revenue was RMB3,149.9M (92.8% of total)
- Net income increased 13.8% to RMB677.3M; basic EPS was RMB3.92 (US$0.54 per ordinary share)
- Teahouse count reached 6,681 (+63.6% YoY); Q1 GMV was RMB8,226.8M (+38.0%)
- Operating margin compressed to 24.2% from 28.2% as sales/marketing rose 166% to RMB299.3M
- 192.4M registered members (+109.6% YoY) and 44.9M active members (+21.4% YoY) as of quarter end
Headline financials
Revenue & EPS history
Chagee Holdings Limited · Revenue · Quarterly
¥3.39B
Revenue by segment
Chagee Holdings Limited · ¥3.39B total across 2 segments · Q1 2025
- Franchised teahouses¥3.15B—92.8%
- Company-owned teahouses¥243M—7.2%
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 3 quarterly earnings reports
+0.9%
Avg return
Earnings day
+5.2%
Avg return
5 days after
-9.7%
Avg return
30 days after
40%
2 / 5 earnings
Positive
+24.3%
Q1 2026
Best reaction
-13.1%
Q2 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +24.3% | +16.0% | — | |
| Q4 2025 | -3.1% | +5.0% | +15.5% | |
| Q3 2025 | +6.1% | +8.1% | -15.8% | |
| Q2 2025 | -13.1% | -16.4% | -23.3% | |
| Q1 2025 | -9.6% | +13.2% | -15.2% |
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