Chinese Tea Chain Chagee Reveals Revenue Surge In US IPO Filing; Tiger Brokers Among Underwriters
UPDATE 2-Chinese tea chain Chagee reveals revenue surge in US IPO filing Rewrites headline with financial details, adds context on IPO market in paragraph 2-5, adds financial details in paragraphs 7 and 10, and details on IPO in 8, 9 and 11. Founded in 2017, Chagee is a premium tea brand. As of December 31, 2024, its network comprised 6,440 teahouses, including 6,284 in China, the company said.Chagee's net revenue jumped to 12.41 billion Chinese yuan in 2024, from 4.64 billion Chinese yuan a year ago. Net income increased 213.3% to 2.51 billion Chinese yuan over the same period.Chinese companies typically seek U.S. stock market listings to tap deeper capital pools, attract a broader investor base, and potentially secure higher valuations.The Chinese tea chain plans to use the offering's proceeds to expand its teahouse network in China and abroad, along with other corporate purposes.