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MEITUAN-W Doesn't Disclose Order Data for Autumn Promotion Period; Sales of Chagee Surge ~30% YoY
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In recent months, China's tea beverage industry has seen an emerge of promotional activities for the first cup of milk tea of autumn during the beginning of autumn. As of 8 August, sales of Chagee (CHA.US) during the promotional period increased by 200% QoQ and 28% YoY, according to Chinese media. Recently, Chinese consumption platforms launched an anti-involution campaign. MEITUAN-W (03690.HK) posted on its official Weibo account that the promotional event had ended as scheduled, but no order data was released this time. AAStocks Financial News Website: www.aastocks.com |
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