Every number has a source row
Metrics below keep source tier, quality, period, and source link visible at the metric level.
GMV is not revenue
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 | Source-backed | S1 official primary 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). |
Scale Terminal transaction scale across the network. Useful for franchise reach, not the same as listed-company revenue. | $4.52B | FY2025 GMV / system sales: Terminal transaction scale across the network. Useful for franchise reach, not the same as listed-company revenue. | Source-backed | S1 official primary 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). |
Scale per store Screening proxy: scale divided by store count. It is not audited AUV or unit profit. | $605,958 Directional proxy | FY2025 GMV / system sales: Terminal transaction scale across the network. Useful for franchise reach, not the same as listed-company revenue. | Directional proxy | S1 official primary 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). |
Profit signal Profit signal from the source period. Read with local accounting and segment mix in mind. | $169.65M | FY2025 Profit Positive: Scale basis not specified. Use as a screening signal until a source pack is attached. | Source-backed | S1 official primary 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). |
Revenue Source-backed operating metric from the locked research snapshot. | $1.85B | FY2025 Revenue: Recognized company revenue. Useful for accounting scale, but not directly comparable with GMV/system sales. | Source-backed | S1 official primary 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). |