heytea Archives - Pandaily

Luckin Coffee Launches Franchise Expansion Drive

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.

Chinese Tea Brands Including Mixue and HeyTea Eye Southeast Asia

With increasingly fierce competition in the Chinese tea-based beverages market, more and more domestic enterprises are turning their attention overseas.

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.

Nayuki Shares Soar Following Significant Price Cuts

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 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.

Xiaomi Denies Rumors of Mass Layoffs

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 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.

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.

Nayuki Tea Says Recent Reports Questioning Food Safety Won’t Severely Affect Operations or Finances

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.

HeyTea Denies Reports of Plan to List on Hong Kong Stock Exchange Next Year

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.

China VC Weekly: Coffee and AI

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.

HeyTea Invests in Seesaw Coffee

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.

HeyTea Completes Financing Round Worth $500 Million, Raising Market Value to $9 Billion

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.

China VC Weekly: Cheese Tea, Autonomous Driving, New Funds

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.

HeyTea to Complete New Round of Funding for $9.27 Billion

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.