The Recent IPOs in the USA have surged over 28 times since their listing! How will Bawang Chaji perform when it debuts in the USA tonight?

Chinese milk tea chain brand.$Chagee Holdings (CHA.US)$Tonight, it will officially debut on the Nasdaq as the 'first stock of new tea drinks' in the USA. The listing of Bawang Chaji has attracted significant attention from the market, and investors are very concerned about how the company's stock price will trend after the listing.

Looking at the stocks listed in the USA this year, many Recent IPOs have performed exceptionally strong.Futu News has filtered the Recent IPOs in the USA this year with a Market Cap > 1 billion USD and the top five companies by increase since their listing (As of the market close on April 16, 2025 in the USA.), for mooers' reference:

– Blockchain financial services and technology company$Diginex (DGNX.US)$The upward momentum is the most rapid, with companies that completed their IPOs in late January rising over 28 times in just three months;

– American conservative media with meme stocks genes$Newsmax (NMAX.US)$It went public on March 31, and in just two days, the increase reached an astonishing 2230%. Although there was a significant pullback afterwards, as of the time of writing, there is still an increase of over 180%;

As the only Chinese concept stock on the list, $LZ Technology Holdings (LZMH.US)$it landed on the Nasdaq in the USA on February 27, becoming the first Chinese company to go public in the USA with a core model of "smart access control + advertising". On the first day of listing, the stock surged over 80%, and as of the time of writing, it has cumulatively risen over 125%.

According to Bloomberg, BaWang ChaJi plans to price at the upper limit of $28, raising $0.411 billion (about 3.187 billion Hong Kong dollars), equivalent to a valuation of about $5.1 billion, or nearly 40 billion Hong Kong dollars. In comparison, its industry peer Mixue Group surged nearly 9% during trading today, reaching a record high, and as of the close of the Hong Kong stock market, its Market Cap exceeded 177 billion Hong Kong dollars, while BaWang ChaJi's valuation is less than a quarter of Mixue's Market Cap.

According to a report by the Hong Kong Economic Journal, before its IPO subscription last week, four Institutions agreed to subscribe to BaWang ChaJi's $0.205 billion ADR, accounting for 51.7% of this offering. These Institutions are Donghui Investment (Chinese), RWC Asset Management, Allianz (Allianz SE) under Allianz Investment (European), and ORIX Asia Asset Management (Japanese), each subscribing for $80 million, $60 million, $50 million, and $15 million worth of shares. The report noted that investors showed strong interest in stocks with multiple times the ADR issuance, reflecting the enthusiasm for the subscription.

As of December 31, 2024, the Bawang Tea Princess brand has 6,440 stores, including 6,284 stores in China and 156 stores overseas. Among its store network, 6,271 are franchises, and 169 are company-owned. In 2024, the average number of cups sold per store per month in China was 25,099 (a year-on-year increase of 5%), and the average monthly GMV for its stores in China was approximately $0.07 million (a year-on-year increase of 6%).

In terms of financial performance, Bawang Tea Princess reached a net income of 12.4056 billion yuan ($1.6996 billion) in 2024, an increase of 167.4% compared to 4.6402 billion yuan in 2023; the company's net income grew by 213.3% from 0.8026 billion yuan in 2023 to 2.5146 billion yuan ($0.3445 billion) in 2024.

192K Views