Founded in 1997 by Zhang Hongchao as a side hustle to support his family's finances, Mixue, officially known as Mìxuě Bīngchéng, operates under a franchise model that distinguishes it from direct-operating chains like Starbucks. In contrast to previous market challenges faced by competitors, Mixue's debut underscores resilience amidst China’s economic complexities as it plans future expansion.
Mixue Ice Cream and Tea Surges in Stock Debut Amid Economic Challenges
Mixue Ice Cream and Tea Surges in Stock Debut Amid Economic Challenges
Mixue Ice Cream and Tea achieves notable stock performance, marking a significant milestone in its expansion amidst economic adversity in China.
On Monday, Mixue Ice Cream and Tea, a Chinese bubble tea chain boasting over 45,000 outlets across China and 11 international locations, celebrated a remarkable 40% increase in shares after its debut on the Hong Kong Stock Exchange. This initial public offering (IPO) raised $444 million (£352 million), becoming the largest of the year in the market. Despite the ongoing economic hurdles like a property crisis and weakened consumer confidence, Mixue's affordable offerings—averaging six Chinese yuan ($0.82; £0.65)—have gained a substantial following.
