beverage Archives

Luckin Coffee Delivers First Quarterly Operating Profit Since Founding

Chinese beverage chain Luckin Coffee released its unaudited 2022 first quarter report on Tuesday, showing it achieved revenue of 2.4 billion yuan ($359.9 million) during the period.

Lemon Tea Brand Ningji Acquires Changsha-Based Coffee Brand RUU

Lemon tea brand Ningji has recently invested in Changsha-based local coffee brand RUU, and has become its wholly-owned parent company.

Nayuki Bets $152 Million on Bottled Tea

Chinese bubble tea chain Nayuki is in urgent need of acquiring a ready-to-drink (RTD) production line due to the recent sharp increase in sales of ready-to-drink products.

Beverage Brand Genki Forest’s Revenue Increases by 50% YoY in Q1

On Friday, Li Guoxun, Vice President of sparkling water brand Genki Forest, talked about the company's recent business operations, marking the first time that the brand disclosed performance data to the public.

Beverage Brand Nayuki Added 37 Teahouses in Q1

Nayuki Holdings Limited, a new-style beverage brand, announced the latest financial report of its operations in the first quarter of this year on Thursday.

Chinese Beverage Brand Genki Forest Lowers 2022 Growth Forecast

Chinese low-calorie beverage brand Genki Forest is expecting to slow down its growth in 2022 after several years of high speed development.

Genki Forest’s Senior Executive Liu Zhen Leaves Company

News emerged on Thursday that Liu Zhen, who has in charge of Genki Forest's overseas business, had left the company in early March. Genki Forest has confirmed that the news is true.

Chinese Economical Beverage Brand MXBC Enters Singapore and Malaysia

MXBC, a chain brand dedicated to creating fresh ice cream and tea drinks in China, has officially entered Singapore and Malaysia, two Southeast Asian countries.

Coffee Brand Seesaw Coffee Completes A++ Round Financing

Seesaw Coffee has completed an A++ round financing worth several hundred million yuan. This round of financing was led by BA Capital and followed by Costone Capital.

Beverage Firm Genki Forest to Build Sixth Jiangsu Factory

Chinese beverage brand Genki Forest announced on February 25 that its sixth self-built factory will be established in Taicang, Jiangsu Province, covering an area of 120 mu (19.8 acres).

HeyTea Sets Beverage Price Limit at $4.6

HeyTea, a beverage brand in China, announced on Thursday that it has completed product price adjustments started in January of this year.

Chinese Beverage Chain HeyTea Denies Rumors of Mass Layoffs

Chinese beverage chain HeyTea has denied a report on Wednesday that it has been carrying out major internal layoffs, claiming that its adjustment of a small number of employees is part of its normal business operations.

Nayuki’s 2021 Adjusted Net Loss Between $672M to $678M

Chinese bubble tea chain Nayuki announced on Tuesday that it is expected to earn about 4.28 billion ($672 million) to 4.32 billion yuan in revenue and about 135 million to 165 million yuan in adjusted net losses (non-IFRS measure) in 2021.

Luckin Coffee to Pay $180 Million to Settle Accounting Fraud Charges

Chinese beverage chain Luckin Coffee filed a document on Friday with the SEC, showing that the company had met conditions for reaching a settlement agreement whereby it will pay a fine of $180 million.

Centurium Capital Gains Control of Chinese Beverage Firm Luckin Coffee

A consortium led by Centurium Capital, a Beijing-based investment company, now owns more than 50% of domestic beverage chain Luckin Coffee, which was previously plagued by a series of scandals.

Beverage Brand Genki Forest Releases Consumption Report

On January 14th, Chinese beverage company Genki Forest released their Insight Report on Bubble Water Consumption in 2021 by analyzing the sales data of its Tmall store in the first 11 months of 2021.

Dongfang Honghu Receives Financing from ByteDance

Dongfang Honghu recently completed an angel round financing of over 100 million yuan ($15.69 million), led by ByteDance.

Beijing-Based Beverage Firm Genki Forest Undergoes Organizational Adjustment

Chinese beverage company Genki Forest has been undergoing extensive adjustments to its organizational structure recently.

Starbucks Closes Stores Due to Food Safety Issues

In response to recent food safety problems, Starbucks China posted on its official Weibo account a statement on Monday saying that it had immediately closed two stores involved in a food safety scandal.

Luckin Coffee’s Q3 Revenue Rises to $364.7 Million, Net Loss Decreases by 98.6% Year-on-Year

Luckin Coffee released its unaudited financial report for the third quarter of 2021 on Thursday. The data showed that its total net revenue in the third quarter was 2.35 billion yuan ($364.7 million).

Everything about China's Innovation