Zhongtong Finance APP learned that Chabaidao (02555) rose more than 7% at the end of the day, and as of the close, it rose 7.3%, to HKD 11.76, with a turnover of HKD 4.9271 million.

On the news front, on June 13th, the new tea brand Chabaidao announced on its official Weibo account its achievements in expanding overseas markets. So far, Chabaidao has landed in 4 cities overseas, with 8 stores, including 4 in South Korea, 2 in Thailand, and 2 in Australia. Earlier, Chabaidao said that there are huge development opportunities for new tea drink markets overseas, and plans to prioritize the Southeast Asian market for expansion.

Huafu Securities pointed out that the slowdown in the growth rate of the tea drink industry and the increase in the penetration rate of freshly-brewed coffee have made the competition among tea drink brands more intense. Existing brands are still racing to expand their market share, and it is expected that they will gradually explore lower-tier cities in the future, leading the industry consolidation through better single-store models. The bank pointed out that the domestic market has limited room for growth, and going abroad has become an inevitable choice to make gains, with Southeast Asia being the first choice, followed by Europe, Japan, and South Korea.