Chinese tea chain Chagee has filed for an initial public offering in the U.S. The company plans to list on the Nasdaq under the ticker “CHA.” Chagee operates over 6,400 teahouses across China, Malaysia, Singapore, and Thailand. As of December 31, 97% of its locations are in China. In 2024, Chagee reported a net income of $344.5 million on revenue of $1.7 billion. The company is set to open its first U.S. store in Los Angeles this spring. Chagee aims to expand globally, targeting 100 countries, creating 300,000 jobs, and serving 15 billion cups of tea annually.
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