Performance Report | Cha Baidao's revenue reached 4.92 billion yuan last year, and the number of stores increased by 7.6% year-on-year.

On March 28, Cha Baidao released its annual performance announcement for the year ended December 31, 2024: Throughout 2024, Cha Baidao achieved an operating income of 4.92 billion yuan and an adjusted net profit of 645 million yuan.

As more and more players enter the market, the new tea - beverage market this year has become even more crowded. However, it is worth mentioning that Cha Baidao has demonstrated strong development resilience in the fierce competition: The financial report shows that throughout 2024, Cha Baidao opened 594 new stores, a year - on - year increase of 7.6%, and added 1,348 new franchisees. As of December 31, 2024, Cha Baidao had a total of 8,395 stores, including 13 directly - operated stores, an increase of 7 compared to last year.

In terms of products, in addition to regular tea beverages, Cha Baidao also makes adjustments and innovations according to the characteristics of different regions, different seasons, and consumer preferences. The announcement mentioned that in 2024, Cha Baidao launched a total of 60 new products in China and completed the upgrade and iteration of 42 classic products, including popular tea products such as the "Wheatgrass Series". With continuous innovation, Cha Baidao had 139 million registered members in 2024, among which nearly 60 million were active members.

In terms of supply, in 2024, Cha Baidao continuously optimized its fruit supply chain by means of expanding self - procurement from production areas, and the unified distribution rate of fruits in stores has reached 71.7%. At the same time, 92% of the stores achieved next - day delivery for replenishment orders. During the reporting period, Cha Baidao's raw tea production base was officially put into operation, further consolidating the quality of tea raw materials and the stability of store products.

At the scenario level, to improve store management efficiency and help franchisees operate better, Cha Baidao introduced large - scale AI model technology to build a digital store scenario. The financial report shows that in 2024, Cha Baidao's R & D investment was 33.8 million yuan, a year - on - year increase of 105.7%, which enhanced its core competitiveness.

In addition, in order to find new growth space, Cha Baidao also embarked on the path of going global in 2024. Facing supply - chain problems, Cha Baidao chose the "cross - border + local" strategy, that is, packaging materials, frozen products, and core R & D raw materials are produced in China and supplied across borders; fresh raw materials are sourced locally. Supported by more than 8,000 stores in China, Cha Baidao has gradually "gained a foothold" in the overseas market.

Public reports show that since opening its first overseas store in Seoul, South Korea at the beginning of 2024, Cha Baidao has successively opened 18 stores in multiple countries such as South Korea, Thailand, Australia, Malaysia, and Spain, and its internationalization process is progressing steadily.

Analysts pointed out that the development of the new tea - beverage industry has entered a deep - water area. Cha Baidao has a sound overall financial condition and abundant cash reserves, and the results of "strengthening internal capabilities" are beginning to show.

Looking forward to the future, the board of directors of Cha Baidao said that in 2025, it will focus on the group's development strategy, enhance product R & D and supply - chain capabilities, continuously strengthen technology investment, effectively respond to changes in the market competition environment, and achieve long - term high - quality development.

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