Tea Baidao's 2025 performance shines: revenue and profit both increase, new popular products frequently launched, and store expansion continues

Cha Bai Dao (02555.HK) recently released its 2025 performance report, showing total annual revenue of 5.395 billion yuan, a 10% increase from the previous year; net profit reached 820 million yuan, with a year-on-year growth rate of 71%; adjusted net profit was 830 million yuan, representing a year-on-year increase of 29%. This achievement marks Cha Bai Dao’s double-digit growth in both revenue and profit, further consolidating its leading position in the tea beverage market.

Optimizing the store network is one of the key focuses of Cha Bai Dao’s 2025 strategic layout. During the reporting period, the total number of domestic stores increased to 8,621, with stores in tier three cities and below accounting for 46.1%, significantly penetrating the lower-tier market. This layout not only expands the brand’s coverage but also provides new impetus for performance growth. Meanwhile, Cha Bai Dao is strengthening its supply chain capabilities to provide solid support for store operations. The layout of 26 warehouse centers nationwide (including the newly added Qingdao warehouse in 2025) has significantly improved delivery efficiency in East China, with approximately 95% of stores achieving two or more deliveries per week. The centralized supply rate for fruits jumped from 71.7% in 2024 to 80.4%, and the direct supply model for perishable fruits like cherries and bayberries has further shortened the supply chain cycle.

Product innovation has become the core engine driving consumption. In 2025, Cha Bai Dao launched a total of 117 new products, nearly doubling the number from the previous year, and the registered membership scale exceeded 180 million people. Among them, meal replacement products successfully expanded the afternoon tea consumption scene, and the popular item “Solid Mango Pomelo Sago” sold over 14 million cups after its launch, becoming an annual phenomenon. The coffee business is accelerating as a second growth curve, with 17 new products launched throughout the year, covering core city stores in Guangzhou, Shenzhen, Shanghai, Chengdu, and Beijing, while the business model continues to be refined.

The board of directors of Cha Bai Dao revealed that in 2026, it will build competitive barriers around product strength by increasing R&D investment to enrich the product matrix, while also deepening store network penetration to enhance terminal operational efficiency. As one of the few brands in the industry capable of high-frequency fresh milk and fresh fruit deliveries nationwide, Cha Bai Dao is continuously expanding market boundaries through dual drives of supply chain upgrades and product iterations.