Nai Xue's Tea (02150) announced that in the three-month quarter ending March 31, 2024, the group obtained...
According to the Zhitong Finance App, Nai Xue's Tea (02150) issued an announcement. In the three-month quarter ending March 31, 2024, the Group obtained a net addition of 23 Nai Xue's tea direct-run stores and the closure of 28 Nai Xue's tea direct-run stores. As of March 31, 2024, the Group operated a total of 1,597 Nai Xue's tea directly managed stores, and 205 Nai Xue's tea franchise stores, mainly in middle- and low-tier cities.
Affected by factors such as lower temperatures, this quarter was a low season for the Group's business, and the Group saw no signs of a rapid recovery in demand. Despite this, the “Hachika Nayuki” series performed well. Also, at the beginning of 2023, due to factors such as the end of the epidemic and the relaxation of public health control measures, the stores performed well. The Group anticipates that this base impact will continue until at least April 2024. In terms of franchise business, in February 2024, the Group optimized the requirements for franchisees. The store type was more flexible, the space requirement was reduced, and the investment amount for a single store was also reduced to RMB 580,000. This will help reduce the financial pressure on franchisees and help the franchise business continue to grow.