Chagee Holdings Limited (CHA) Stock Price & How to Invest

Chagee Holdings owns, operates, and franchises teahouses under the CHAGEE brand, selling freshly-made tea drinks built around premium tea leaves and milk-tea recipes. The network reached roughly 7,531 teahouses as of March 2026, spanning Greater China plus overseas markets including Malaysia, Singapore, Thailand, Indonesia, the Philippines, Vietnam, and the United States. Most locations are run by franchisees (about 6,700 of the total), so a large share of revenue comes from selling raw materials, packaging, equipment, and supplies to partners rather than from company-owned store sales, though Chagee has been rapidly growing its own-store count. The company also runs a large loyalty program with around 50 million active members and reported total GMV of roughly RMB 7.9 billion in the first quarter of 2026.

The investment picture is a growth-versus-competition story. Chagee expanded store count double digits and pushed overseas GMV up sharply, but net revenue growth cooled to the low single digits and profitability weakened, with first-quarter 2026 net margin falling to about 12.6% from 20.0% a year earlier as the mix shifted toward lower-margin company-owned stores and China's beverage market got more crowded. The stock, which listed on Nasdaq in April 2025 near $28, traded around $11 in July 2026, off more than half from its debut. For investors, CHA is a bet that a strong brand and international expansion can outrun intense domestic price competition, with the extra layer of risk that comes with a China-based foreign issuer.

Chagee operates in one of the most competitive consumer categories anywhere, facing mass-market tea giants like Mixue and Guming, premium rivals like HeyTea and Nayuki, and coffee chains such as Luckin and Starbucks that have pushed into low-priced milk tea, including drinks marketed as direct Chagee substitutes. This price war has pressured same-store sales and margins, and net income fell year over year in the first quarter of 2026 despite higher revenue. As a China-based business, results are exposed to weak Chinese consumer spending, and as a foreign private issuer with a Nasdaq listing it carries added regulatory, disclosure, and potential delisting risks common to US-listed Chinese companies. The stock has been volatile and trades well below its 2025 IPO price, and heavy reliance on continued franchise and overseas expansion means any slowdown in store growth would weigh directly on the thesis.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Chagee Holdings Limited's investor relations page or your broker.

• Revenue (TTM): ~$1.8B (~RMB 13B)
• FY2025 revenue: ~RMB 12.9B (~$1.8B, +4% YoY)
• Q1 2026 revenue: ~RMB 3.55B (~$514M, +4.5% YoY)
• Q1 2026 net income: ~RMB 448M (~$65M), margin ~12.6% (down from ~20%)
• Teahouses (Mar 2026): ~7,531 (+12.7% YoY)
• Market cap: ~$2.1B

Chagee listed on Nasdaq in April 2025 near $28 and traded around $11 in July 2026, roughly a 60% decline from its IPO. Revenue growth slowed to the low single digits and profit margins compressed as the mix shifted toward company-owned stores and price competition intensified. The valuation reflects a growth company that has re-rated lower on softer momentum, with a $150 million buyback approved to support the shares.

There are three common ways to get CHA exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so CHA sits alongside other stocks that express the same thesis.

Walnut takes the basket route. Describe a thesis where CHA fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

CHA is a high-growth but higher-risk China consumer name, where a fast-expanding teahouse network and strong brand are set against slowing same-store trends, margin pressure, and the added regulatory risk that comes with owning a China-based Nasdaq listing.

Whether CHA is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is CHA a buy?, and where the stock could go from here in the CHA stock forecast.

For income investors, whether CHA pays a dividend and how the payout looks is covered in does CHA pay a dividend?