Heilongjiang, a key region in Northeast China, has become the latest strategic focus for Chagee Holdings Limited (CHA). The company recently established Heilongjiang Chagee Enterprise Management Co., Ltd., with a registered capital of 1 million yuan and Shang Xiangmin as legal representative. The wholly-owned subsidiary of Sichuan Chagee Enterprise Management Co., Ltd. will oversee local store expansion, supply chain coordination, and core operations including catering management and art sales.
This regional move aligns with Chagee's Q3 2025 financial results released on November 28. By September 30, the bubble tea chain had expanded to 7,338 global stores, with mini-program membership surging 36.7% YoY to 222 million. The company maintains a robust financial position with 9.142 billion yuan in cash equivalents and zero interest-bearing debt, providing solid backing for nationwide expansion.
Chagee has achieved profitability for 11 consecutive quarters, posting 503 million yuan in adjusted Q3 net profit. In Harbin alone, the brand operates over 35 flagship stores across seven districts, including premium locations like Central Avenue and Hongbo Central Park. All locations feature "Warm Heart Stations," with a new store underway in Songbei District's Rongchuang Mall.
Industry analysts view the local subsidiary as a strategic upgrade from store deployment to regional operations. Compared to remote management, this structure enables more efficient store operations, supply chain coordination, and localized marketing - replicating successful models from Southwest and South China markets.
The Q3 report revealed Chagee's regional product strategy, featuring location-specific offerings like Guangdong's tangerine-flavored "Crimson Leap" and Sichuan's panda-themed "Mountain Ballad." Similar localized products may soon debut in Northeast China to stimulate regional consumption.
While strengthening domestic presence, Chagee's global expansion shows strong momentum. Overseas GMV exceeded 300 million yuan in Q3, up 75.3% YoY, with 262 international stores including new entries in Philippines and Vietnam. The Philippine market sold over 23,000 cups within three days of launch.
Founder and CEO Zhang Junjie announced plans during the earnings call to implement Version 4.0 menus, expanding into breakfast and evening consumption scenarios while introducing premium pure tea categories. This differentiation strategy, avoiding price wars while catering to Northeast China's consumption upgrade trend, may soon be deployed in the region.