File photo/NBD

On March 3rd, China's tea drinks chain Mixue rang the bell to mark its debut on the Hong Kong Stock Exchange.

On the listing day, the company's opening price soared to HK$262.00 per share, a 29.38% increase over the issue price, corresponding to a total market value of HK$98.79 billion.

It is reported that during this IPO, Mixue introduced five cornerstone investors, with a total subscription of US$200 million.

According to the prospectus, as of December 31, 2024, Mixue operated 46,479 stores. In 2024, Mixue achieved a beverage cup volume of approximately 9 billion cups, generating terminal retail sales of about 58.3 billion yuan, with year-on-year growth rates of 21.9% and 21.7%, respectively.

Currently, Mixue has surpassed Starbucks to become the world's largest freshly-made beverage company and has overtaken McDonald's to become the brand with the most restaurant locations worldwide.