BWCJ Debuts on Nasdaq with 20.54% Gain, Valued at 60 Billion USD

On April 17, the Chinese tea brand Ba Wang Cha Ji (BWCJ) successfully listed on the Nasdaq, marking a significant milestone as the first Chinese tea brand to be listed on the US stock market. The company's shares, trading under the ticker symbol CHA, opened at 33.75 USD, reflecting a 20.54% increase from the initial public offering (IPO) price of 28 USD. By the end of the trading day, BWCJ's shares closed at 32.44 USD, resulting in a market capitalization of approximately 60 billion USD.

Founded in 2017 by Zhang Junjie in Kunming, BWCJ has rapidly expanded its footprint, with a total of 6,440 stores worldwide by the end of 2024. The company's growth trajectory is evident in its financial performance, with net revenues of 4.92 billion CNY in 2021, 46.4 billion CNY in 2022, and 124.06 billion CNY in 2023. The company's net profit also saw significant growth, from -907 million CNY in 2021 to 8.03 billion CNY in 2022 and 25.15 billion CNY in 2023, achieving a net profit margin of 20.3% in 2023.

BWCJ's strategic expansion includes a strong presence in both domestic and international markets. As of the end of 2024, the company operated 6,284 stores in China and 156 stores overseas. The company's store network is well-distributed, with 696 stores in first-tier cities, 3,110 stores in second-tier and new first-tier cities, and the remaining stores in other regions. The IPO proceeds will be allocated towards technological investments, new product development, store expansion, and the establishment of an overseas supply chain.

Looking ahead, BWCJ plans to strengthen its franchise network and expand its business in markets such as Malaysia, Singapore, and Thailand. The company is also exploring opportunities in the US market, with plans to open its first store in Los Angeles in the near future. BWCJ aims to add 1,000 to 1,500 new stores by 2025, further solidifying its position as a leading global tea brand.