Ba Wang Cha Ji Files for Nasdaq IPO, Aims for Global Expansion

Market IntelWednesday, Mar 26, 2025 12:08 am ET
1min read

Ba Wang Cha Ji, a prominent tea beverage company, has taken a significant step towards global expansion by filing for an initial public offering (IPO) on the Nasdaq Stock Market. The company, officially known as Cha Ji Holdings Limited, submitted its IPO prospectus to the U.S. Securities and Exchange Commission (SEC) on March 26, aiming to list under the ticker symbol CHA, which stands for the phonetic spelling of "tea" in English.

According to the prospectus,

Wang Cha Ji achieved remarkable financial performance in 2024. The company reported a full-year revenue of 124.05 billion yuan, with a net profit of 25.15 billion yuan, resulting in a net profit margin of 20.3%. The company's gross merchandise value (GMV) reached 295 billion yuan, marking a 173% increase from the previous year. The average monthly GMV per store in China was 512,000 yuan, highlighting the brand's strong performance and attracting a large number of franchisees. The company's store count grew by 83% year-over-year, reaching a total of 6,440 stores by the end of 2024, with 6,271 of these being franchise locations.

Ba Wang Cha Ji's decision to go public on the Nasdaq is part of its strategic plan to expand both domestically and internationally. The funds raised from the IPO will be used to open new stores in China and overseas, develop and innovate products, build a global supply chain network, and invest in technology to support business growth and operations. The company has already expanded its presence to Malaysia, Singapore, Thailand, and is set to open its first store in the United States in Los Angeles, with plans to enter the Indonesian market soon. By 2025, Ba Wang Cha Ji aims to open between 1,000 and 1,500 new stores globally.

The successful listing of Ba Wang Cha Ji on the Nasdaq is expected to have a positive impact on the broader tea beverage industry. It sets a precedent for other Chinese tea beverage companies looking to go public on international exchanges and provides investors with an opportunity to participate in the growth of one of China's leading tea beverage brands. The company's strong financial performance, coupled with its aggressive expansion plans, positions Ba Wang Cha Ji as a key player in the global tea beverage market.

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