SHANGHAI, April 17, 2025 — Chagee Holdings Limited (“Chagee”), a prominent premium tea beverage company known for its freshly prepared, health-focused tea drinks, has announced the pricing of its initial public offering (“Offering”). The company is offering 14,683,991 American Depositary Shares (“ADSs”) at a price of US$28.00 per ADS, before accounting for underwriting discounts and commissions. Each ADS represents one Class A ordinary share of Chagee. The company anticipates gross proceeds of approximately US$411.2 million from the Offering, prior to deducting underwriting discounts, commissions, and other offering-related expenses. Furthermore, underwriters have been granted a 30-day option to purchase up to 2,202,598 additional ADSs at the initial public offering price, less underwriting discounts and commissions, to cover potential over-allotments.

The ADSs are expected to commence trading on the Nasdaq Global Select Market on April 17, 2025, under the ticker symbol “CHA”. The Offering is expected to close on April 21, 2025, contingent upon the fulfillment of standard closing conditions.

Citigroup Global Markets Inc., Morgan Stanley Asia Limited, and Deutsche Bank AG, Hong Kong Branch are the lead underwriters for this transaction. China International Capital Corporation Hong Kong Securities Limited, Tiger Brokers (NZ) Limited, Moomoo Financial Inc., and Valuable Capital Limited are also serving as underwriters (collectively referred to as the “Underwriters”).

Chagee’s registration statement on Form F-1 pertaining to the Offering was filed with the U.S. Securities and Exchange Commission and declared effective on April 16, 2025. The Offering is being conducted solely through a prospectus, which is part of the effective registration statement. A final prospectus copy, when available, can be obtained from: Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, United States of America, by calling +1-800-831-9146 or emailing prospectus@citi.com; Morgan Stanley Asia Limited, c/o Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, United States, by calling +1-866-718-1649 or emailing prospectus@morganstanley.com; Deutsche Bank AG, Hong Kong Branch at 60/F, International Commerce Centre, 1 Austin Road West, Kowloon, Hong Kong, or by calling +852-2203-8166 or emailing asia.ecm.internal@list.db.com; China International Capital Corporation Hong Kong Securities Limited at 29/F, One International Finance Center, 1 Harbor View Street, Central, Hong Kong, or by calling +852-2872-2000 or emailing ib_projecth2024@cicc.com.cn; Tiger Brokers (NZ) Limited at Level 27, 151 Queen Street, Auckland Central, New Zealand, 1010, by calling +64-09-3938128 or emailing vincent.c@tigerfintech.com; Moomoo Financial Inc. at 185 Hudson ST, 5 Harborside, Suite 2603, Jersey City, NJ 07311, USA, by calling +1-888-721-0610 or emailing IPO@us.moomoo.com; and Valuable Capital Limited at RM 3601-06 & 3617-19, 36/F, China Merchants Tower, Shun Tak Centre, 168-200 Connaught Road Central, Hong Kong, by calling +852-2500-0343 or emailing leo.xiao@valuable.com.hk.

This announcement is not an offer to sell or a solicitation of an offer to buy these securities. Furthermore, no sale of these securities shall occur in any jurisdiction where such offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of that jurisdiction. Any offers, solicitations, or sales of securities will be made in accordance with the Securities Act of 1933, as amended, registration requirements.

About Chagee Holdings Limited
Chagee is a leading premium tea drinks brand, serving healthy and delicious freshly-made tea drinks. Founded in 2017, Chagee has transformed traditional tea culture into a modern lifestyle experience, leveraging cutting-edge technology and innovative branding. With its commitment to quality, innovation, and cultural connection, Chagee continues to reshape the global tea industry.

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Investor Relations
Robin Yang, Partner
ICR, LLC
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Phone: +1 (212) 537-5825