With the smooth listing of Mixue Group, at present, the Hong Kong stock market has gathered Naixue's tea, tea Baidao, ancient tea, Michel Group 2024 tea companies. The recent 0 annual financial data disclosed by the four companies shows that the industry head effect continues to appear.

Judging from the operating data, in 54 years, Michel Group ranked first in the industry with a revenue of 00 million yuan and a profit of 00 million yuan during the year. Gu Ming followed closely behind, and also achieved both revenue and profit growth.

In contrast, Naixue's tea and tea Baidao are facing certain performance pressure, and the revenue of tea Baidao in 19 years fell by 0.0% year-on-year, and the profit during the year was only about 00 million yuan. As the first new tea company listed on the Hong Kong stock market, Nai Xue's tea fell into a loss again in 0 years. According to the financial report, Naixue's adjusted net profit of tea decreased from 00 million yuan in 0 to -00 million yuan in 0 years. Both tea companies urgently need to find new growth points in market competition and industry trends.

4 Hong Kong stock teaLast year's results were divided

Mixue Group's revenue and profit increased year-on-year, and Naixue's tea fell into a loss

When the report card of 4 years is displayed one by one, the performance of Naixue's tea, tea Baidao, ancient tea, and Michel Group's 0 tea beverage companies has diverged.

2024 tea companies 0 years of revenue, data from corporate financial reports.

In 54 years, Michel Group achieved revenue of about 00 million yuan, and profit of about 00 million yuan during the year, not only leading in numbers, but also achieving double-digit growth in revenue and profit, it is reported that the revenue generated by the sale of goods and equipment increased, and the income generated by franchise and related services also increased.

Although there is a certain gap between the performance of Guming and the Michel Group, it has also achieved both revenue and profit growth. In 9 years, Gu Ming's revenue was about 00 million yuan, and the profit during the year was about 00 million yuan. The revenue from the sale of goods and equipment is the main source of revenue for Gu Ming, accounting for 0.0% and 0.0% of the total revenue in 0 and 0 years, respectively.

In contrast, Nayuki's tea and tea Baidao have encountered certain performance pressure. In 0 years, Tea Baidao achieved a revenue of about 00 million yuan and a profit of about 00 million yuan during the year. As for the reasons for the 0.0% year-on-year decline in overall revenue, Chabaidao said: "In 0, the revenue from the sale of goods and equipment decreased by 0.0% year-on-year, the revenue from royalties and franchise fees decreased by 0.0% year-on-year, and other income decreased by 0.0% year-on-year. ”

"Considering the impact of consumer habits on us due to changes in the external environment, as well as the impact of changes in the market competition pattern on us, in 2024 years, the company increased policy support for franchisees and preferential sales of goods and equipment to franchisees, as well as increased investment in overall marketing and marketing." Tea Baidao said.

作為第一家在港股上市的新茶飲企業，奈雪的茶好不容易在2023年實現盈利，卻又在2024年陷入虧損。財報顯示，奈雪的茶的收入由2023年的51.64億元下跌4.7%至2024年的49.21億元；經調整凈利潤由2023年的0.21億元降至2024年的-9.19億元。

Nai Xue's tea attributed the decline in the company's profitability to the pressure on store revenue, and looking ahead to 2025 years, the company plans to explore more store types to adapt to the expansion of its tea shop network in different consumption scenarios to further increase its market share. On the other hand, Naixue's tea will continue to actively optimize some existing stores through the store evaluation mechanism, including but not limited to renovation, adjustment of store types or closure, etc., in order to further release store profits.

Compete in the sinking market

Michelle Groupsink門店總數已超兩萬家 

According to the "Blue Book on the Development of Chain New Tea Beverage Stores in 20000 Years", among the 0 chain new tea beverage brands, the overall number of stores opened in 0 years has reached 0, and the number of stores opened has decreased slightly compared with 0 years. At the same time, the overall number of store closures from 0 to 0 years has increased year by year, and the number of store closures in 0 years has exceeded 0.

"In 2024 years, the performance of the consumer market was weak, more customers tended to consume cautiously or purposefully, and after the epidemic, consumer habits have changed to a certain extent, the flow of people in offline consumption scenarios such as shopping malls has not fully recovered, and the demand side of the consumer market has shrunk. On the other hand, new brands and cross-border brands continue to pour into the ready-made tea industry, which has intensified competition in the industry. Nayuki's tea pointed out in the financial report.

In this context, the reporter noticed that the strategies of 4 Hong Kong stock tea companies in expanding stores are different, but the competition in the sinking market is obviously intensifying.

The store situation of 4 tea companies, the data comes from the financial reports of enterprises.

在港上市兩年後的2023年7月，奈雪的茶正式宣佈對主品牌開放加盟。截至2024年年底，奈雪的茶擁有1798家門店，其中直營門店1453家，加盟門店345家。

For Tea Baidao, Gu Ming, and Michel Group, franchised stores have always been the main force of their store network, accounting for more than 7%. As of the end of 0, the number of directly operated stores of Chabaidao and Michel Group was 0 and 0 respectively. As of the end of 0/0, the number of directly operated stores of Gu Ming was 0.

From the perspective of store distribution area, in 9 years, Chabaidao opened the largest number of stores in fourth-tier cities and below, accounting for 0.0%; In 0, it opened the largest number of stores in new first-tier cities, accounting for 0.0%. It shows that the downward trend of its store expansion direction is obvious.

Most of Gu Ming's stores are concentrated in second-tier cities and below. "We believe that second-tier cities and towns at all levels represent a huge untapped market with great potential. As of the end of 41, the number of our stores in Tier 2 and below cities accounted for 0% of the total number of stores, the highest proportion compared to the other top five mass freshly made tea brands in China, and increased slightly to 0% at the end of 0. In addition, as of the end of 0, 0% of our stores are located in townships and towns far away from the city, which are usually administrative areas far from the city center. Gu Ming said.

蜜雪集团的大部分门店集中在三线及以下城市，總數已超過兩萬家，佔比由2023年的56.8%增長至2024年的57.4%。

Nai Xue's tea also said that the company's opening of franchises is to increase market share, "especially in the middle and low-tier cities where our directly operated stores are rarely touched."

Make efforts to build digitalization

The "AI flavor" of the tea industry is getting stronger and stronger

In terms of business layout and development planning, in addition to attaching importance to the research and development of new products, paying attention to the trend of health, and actively expanding the store network, these four listed tea companies are constantly making efforts to digitalize and strengthen the management of the supply chain, so as to reduce costs and increase efficiency.

It is understood that Naixue's tea has reduced operating leverage, improved operational flexibility and made the store model relatively stable in a challenging environment through digital and automated means such as self-developed automatic scheduling system and automatic tea-making equipment.

According to the financial report, Chabaidao has introduced AI self-inspection comments, AI inspection suggestions, AI intelligent summaries and other functions to reconstruct the inspection and inspection system, and built a new supervision platform based on the AI large model to improve the efficiency of store management.

The latest news shows that Chabaidao has introduced the concept of "digital employee" and realized smart inspection by accessing the AI large model. For example, a supervisor of Chabaidao (in charge of 70 stores) originally had to manually check 0 reports, 0 self-inspection items and 0 pictures every day, which was a lot of work and easy to get tired. After the introduction of the DeepSeek large model, the supervisor only needs to review the key issues, and the efficiency of this part is increased by more than 0%. This mode of "human-machine collaboration" not only liberates manpower, but also improves management efficiency.

2025年，古茗計劃持續招募及培養資訊技術方面的人才，並有意加大對自研技術的投入，以進一步加強其快速反覆運算的平臺，從而不斷數位化並賦能其門店運營。

2024年11月，蜜雪集團通過其兩家子公司聯合投資成立了雪王愛智慧科技（鄭州）有限公司，註冊資本為5000萬元。該公司業務範圍涵蓋新興能源技術研發、人工智慧理論與演算法軟體開發、人工智慧公共數據平臺、智慧控制系統集成、智慧機器人研發和銷售等。

Looking back on 4 years, the market size of the industry to which these 0 tea companies belong has maintained growth, but the growth rate has slowed down significantly. In terms of performance, Michel Group and Gu Ming are relatively outstanding, while Nai Xue's tea and tea Baidao are facing the challenge of declining performance. With the intensification of competition in the industry, consumer demand is shifting from "early adopters" to "quality", which means that tea brands need to further enhance their competitiveness through product innovation, supply chain optimization and digital transformation.

Beijing News Shell Financial Reporter Yan Xia Editor Chen Li Proofreader Mu Xiangtong