US Stock Market Move | "Eastern Starbucks Corporation" Milk Tea Princess (CHA.US) debuts on US stock market, opening with stock price surging more than 34%

On Thursday, Chinese milk tea chain brand ChaHijes (CHA.US) debuted on the US stock market, with the stock opening higher. As of the time of writing, the stock has risen by more than 34%, reaching $37.775. The IPO price was $28 per share. As of December 31, 2024, the ChaHijes brand has 6440 stores, including 6284 in China and 156 overseas. Among its store network, 6271 are franchised and 169 are company-owned. In 2024, the average number of cups sold per store in China per month was 25,099 (a 5% increase), and the average monthly GMV in China was about $70,000 (a 6% increase).