Chagee Holdings ^{Priced, Nasdaq: CHA}

CHAGEE is a leading premium tea drinks brand, serving healthy and delicious freshly-made tea drinks. Its creation, in 2017, was inspired by how international coffee chains have made coffee drinking both a worldwide lifestyle and a social concept since the 1970s. This success has made us believe that tea drinking needs to be transformed too — and led us to use the power of technology and brand to make tea drinking a modern-day experience that connects people and cultures around the world. As of December 31, 2024, our CHAGEE brand encompasses a vast, growing network of 6,440 teahouses, including 6,284 teahouses covering 32 out of 34 province-level divisions across China and 156 teahouses overseas. Of our extensive teahouse network, 6,271 are franchised and 169 are company-owned. We directly manage a total of 398 teahouses, including all of our company-owned teahouses and 229 franchised teahouses. We take pride in our strong ability to manage and scale a franchise network both across China and in a growing number of overseas markets. This ability is rooted in our “managed franchise model” that focuses on effective, centralized management of our franchise network in accordance with our uniform standards in product quality, supply chain management, and consumer service excellence.