ChaPanda released its interim results on August 28. Revenue for the first half rose 6.2% year-on-year to RMB 2.66 billion (USD 394.9 million), while profit for the period increased 3.5% to RMB 345 million (USD 51.2 million).
At its earnings briefing, management said the company was focusing less on expanding store count for its own sake and more on improving store-level operations through product development and supply chain efficiency.
ChaPanda stepped up product R&D in the first half, building out a portfolio centered on ingredients including fresh fruit, fresh milk, and coffee.
Its “Litchi Iced Milk” sold more than 17 million cups in just over 50 days, according to the company. ChaPanda subsequently introduced other iced milk drinks featuring flavors including guava, grape, and lemon, expanding the category into a more distinct product line.
The company has also been broadening the occasions its products are designed to serve. Since the start of 2026, ChaPanda has introduced items positioned for light meals, including a cassava-based dessert bowl, as well as drinks marketed for everyday hydration, such as a bergamot-and-lemon beverage.
