Metrics below keep source tier, quality, period, and source link visible at the metric level.
Source tiers — S1 official primary · S2 official secondary · S3 supplementary · S0 not usable. Open “Provenance” on any number for its tier, basis, precision, and do-not-use note.
GMV/system sales, revenue, and royalty pool sales are separate scale bases. Screening proxies are directional only.
| Metric | Value | Period / basis | Quality | Source |
|---|---|---|---|---|
Stores Reported restaurant, coffee shop, tea shop, bakery, or comparable chain units. | 7,453 stores | FY2025: As of December 31, 2025, there were 7,453 teahouses within the Company's teahouse network in Greater China and overseas | Source-backed | S2 official secondary (opens in new tab) Press Or Ir · As of December 31, 2025, there were 7,453 teahouses within the Company's teahouse network in Greater China and overseas ProvenanceTier: S2 official secondary Source: Press Or Ir |
Scale Terminal transaction scale across the network. Useful for franchise reach, not the same as listed-company revenue. | $4.52B | FY2025: Total GMV generated throughout 2025 was RMB31.58 billion, representing a 7.2% year-over-year increase from RMB29.46 billion in 2024 GMV / system salesTerminal transaction scale across the network. Useful for franchise reach, not the same as listed-company revenue. | Source-backed | S2 official secondary (opens in new tab) Press Or Ir · Total GMV generated throughout 2025 was RMB31.58 billion, representing a 7.2% year-over-year increase from RMB29.46 billion in 2024 ProvenanceTier: S2 official secondary Source: Press Or Ir Basis: GMV / system sales Precision: Source-backed |
Scale per store Screening proxy: scale divided by store count. It is not audited AUV or unit profit. | $605,958 Screening proxy | FY2025 GMV / system salesTerminal transaction scale across the network. Useful for franchise reach, not the same as listed-company revenue. | Source-backed | S1 official primary (opens in new tab) SEC 2025 Form 20 F · 20-F discloses 7,453 teahouses, including 7,108 in China, 345 overseas and 6,838 franchised; GMV RMB31.5823B; net revenues RMB12.9074B (US$1.8457B); net income RMB1.1863B (US$169.6M). ProvenanceTier: S1 official primary Source: SEC 2025 Form 20 F As of: FY2025 Basis: GMV / system sales Precision: Derived |
Profit signal Profit signal from the source period. Read with local accounting and segment mix in mind. | $169.65M | FY2025: For the full year 2025, GAAP net income was RMB1,186.3 million (US$169.6 million), compared to RMB2,514.6 million in 2024 Profit-positiveScale basis not specified. Use as a screening signal until a source pack is attached. | Source-backed | S2 official secondary (opens in new tab) Press Or Ir · For the full year 2025, GAAP net income was RMB1,186.3 million (US$169.6 million), compared to RMB2,514.6 million in 2024 ProvenanceTier: S2 official secondary Source: Press Or Ir Basis: Profit-positive |
Revenue Source-backed operating metric from the locked research snapshot. | $1.85B | FY2025 Revenue proxyRecognized company revenue. Useful for accounting scale, but not directly comparable with GMV/system sales. | Source-backed | S1 official primary (opens in new tab) SEC 2025 Form 20 F · 20-F discloses 7,453 teahouses, including 7,108 in China, 345 overseas and 6,838 franchised; GMV RMB31.5823B; net revenues RMB12.9074B (US$1.8457B); net income RMB1.1863B (US$169.6M). ProvenanceTier: S1 official primary Source: SEC 2025 Form 20 F As of: FY2025 Basis: Revenue proxy |
Classification, firmographics, ownership and operating dimensions — source-backed where disclosed, marked as a gap (never inferred) where not.
Store counts by market/region — footprint context, not a same-basis comparison.
Company-operated vs franchised footprint, AUV and store-level economics — taken verbatim from each operator's own filing, never inferred. A separate axis from company scale and single-store economics.
Unit economics are a separate axis from company-level scale — never read as the same number. Each field keeps its source, period, and quality; derived/estimated rows and gaps are marked.
Where each revenue dollar goes, latest disclosed year. Slices use each operator's reported base — % of revenue unless the row notes otherwise (% of GMV, restaurant-level, franchise goods-supply COGS). Grey = not separately disclosed. This is a separate axis from company scale and single-store economics.
Who supplies this brand — reverse-extracted from each supplier's own filing (top-customer / related-party disclosure). The % is the supplier's revenue share from this brand (supplier-side, not procurement spend), unless a note says otherwise. Each edge keeps its period, source tier, and audit link; named relationships without a disclosed % are shown as such.
Same segment — each operator keeps its own scale basis; this is navigation, not a like-for-like comparison.