Chinese beverage chain Luckin Coffee announced its launch of a new round of partner recruitment to expand franchised stores on December 5. The initiative covers nine provinces and 41 urban areas, mainly in third- and fourth-tier cities.
With increasingly fierce competition in the Chinese tea-based beverages market, more and more domestic enterprises are turning their attention overseas.
Chinese low-calorie beverage brand Genki Forest is expecting to slow down its growth in 2022 after several years of high speed development.
On Thursday, Chinese beverage brand Nayuki announced a sharp price reduction as it launched a new series named "Relaxation". Its stock price rose by 14.89% today on the HKEx, closing at HK $4.86.
HeyTea, a beverage brand in China, announced on Thursday that it has completed product price adjustments started in January of this year.
Rumors have swirled recently that Chinese tech giant Xiaomi plans to lay off 10% of its employees, mainly targeting new employees and fresh graduates.
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.
Dongfang Honghu recently completed an angel round financing of over 100 million yuan ($15.69 million), led by ByteDance.
Nayuki’s Tea on Wednesday announced that recent reports regarding food safety issues and the review of the regulatory authorities will not have any significant adverse impact on the group's operations and financial situation.
On August 4, Chinese domestic media reported that HeyTea may go public in Hong Kong next year, with a target valuation of HK $150 billion ($19.29 billion). However, HeyTea responded that they have no listing plan at present.
Two prominent Chinese coffee chains Seesaw and M Stand both raised considerable rounds that will go towards expansion, while prominent local AI firm 4Paradigm bagged over $230 million for R&D and ecosystem improvement.
On Wednesday, Seesaw Coffee announced it completed its A + round of financing, bagging over 100 million yuan, with HeyTea as a new investor, followed by Hongyi Baifu, an old shareholder. This is the first time HeyTea has invested in a coffee brand.
Chinese milk tea chain HeyTea on Tuesday announced it has secured $500 million in new financing, led by IDG Capital, He Boquan, Longzhu Capital, Sequoia China, BA Capital, Tencent, Hillhouse Group, Coatue and other investors.
In this week’s VC news: HeyTea to raise a new massive round, WeRide raising over $600 million in just 5 months and early stage startup focused VC fund Northern Light closes new round.
According to PEDaily, several independent sources said that Chinese milk tea chain HeyTea is about to complete a new round of funding. At present, the amount of funding for this round has not been disclosed, though the company is currently valued at around $9.27 billion. HeyTea did not comment on the matter.
Milk tea has become a new trend among China’s younger generations. Over the years, we’ve seen some popular milk tea brands emerging in China.
Chinese artificial meat brand Starfield jointly launched plant-based “meat” dumplings with a food group on Thursday.
Chinese tea beverage chains HeyTea and Nayuki Tea & Bakery are looking to be listed in Hong Kong next year, respectively aiming to raise $400-500 million, according to a report by The Paper.
Chinese leading upscale tea chain HeyTea is marching into the realm of healthy ready-to-drink products with 3 fruit tea sodas.
HeyTea issued an apology for the detection of microbial contamination in beverages sold in Nanjing stores and listed five corrective measures.