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Posted by
Two Blokes Jun 11 -
Filed in
Stock
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Chagee posted strong Q1 revenue growth of 35%, but average monthly GMV per teahouse dropped 21%, signaling possible market saturation and cannibalization. Operating margin fell from 28.2% to 24.2% as operating expenses, especially sales and marketing, outpaced revenue growth, raising concerns about efficiency. Aggressive international expansion faces higher costs and operational challenges, with overseas stores likely unprofitable despite rapid GMV growth.
