ChaPanda Reports 6.2% Revenue Growth in First Half as Store Count Reaches 8,863

ChaPanda (02555.HK) reported first-half revenue of 2.655 billion yuan, up 6.2% year on year, and net profit of 345 million yuan, up 3.5%, according to Jiemian News. The tea chain said its global store count rose to 8,863 and registered members exceeded 200 million. It also said its coffee business had expanded to more than 2,700 stores, while new dessert, lemon water and milk-tea products were rolled out during the period. The company said its lychee iced milk tea sold more than 17 million cups in just over 50 days. ChaPanda said stores in third-tier cities and below increased 7.2% year on year, while its national warehouse and distribution network grew to 27 centers, with fruit distribution coverage at about 91% and about 95% of stores receiving deliveries at least twice a week.