霸王茶姬CHAUS 2026年第二季度业绩电话会

发布时间：2026-08-28 一、AI总结内容 一、核心要点 1. 2026年公司战略回归业务本质，聚焦产品创新、组织效率与用户触点，以应对茶饮行业结构性竞争变化 2. 二季度总营收34.15亿元，同比增2.5%、环比降3.7%；净利4.65亿元，净利率13.6%，同比大幅提升3. 海外市场成重要增长引擎，二季度海外GMV5.04亿元，同比增114.3%、环比增18.2%，二季度末海外门店达399家，覆盖8个市场，首入韩国4. 二季度单季上新17款（历史最高），覆盖多品类，新品带动相关业务增长，首入韩国门店表现亮眼 二、风险与关注 1. 国内整体GMV环比降3.3%，中国区GMV环比降4.5%，国内市场增长面临压力2. 茶饮行业竞争格局转向存量博弈，行业竞争烈度大幅上升，需求端用户价值观重构，渠道端外卖流量格局变化 三、后续安排 1. 下半年工作聚焦务实落地上半年成果，保持产品上新节奏，优化门店体验，坚持中国区质量优先、海外稳步扩张的策略2. 正研究多元化股东回报方案，将适时披露相关细节 二、音频原文（转写） Good morning and good evening ladies and gentlementhank you for standing by and welcome to chajee's second quarter twenty twenty six earnings conference goal.We will be hosting a question andanswer session after management's prepared remarks.Guise note that today's event is being recordedwith that i will now turn the call over to thefirst speaker to day miss alicia gwo investor relations director of the companyplease go aheadma'amthank you hello everyone and welcome to chagi's second quarter twenty twenty six earnings call with us to day are mr jinji zhang our ceo mradenying our c o o and mr aran hong our c f o the company's financial and operating results were released by the news where earlier嗯and are currently available online before we continue. I refer you to our safe harbour statement in the ear nings price release.Which applies to this call any forward looking statements that we make on this call are based on assumptions as of to day and chagri does not undertake any obligations to update these statements also this call includes discussions of certain non gap financial measureplease refer to our earnest release which contains a reconciliation of non gap measure to gap measurewith that i will turn the call to our ceo mrjin chie chang please go ahead sirhello大家好欢迎参加霸王茶姬2026年第二季度财报电话会hello everyone welcome to chagis second quarter twenty seven.进入2026年，我们战略聚焦经本质专注做好用户关心的每一件事，一季度完成组织产品与营销线路的梳理。 为高质量增长筑基二季度外部环境是有些波动啊，但这恰恰验证了我们的判断，创业周期的根本，还是在于用户发自内心的认可，市场越复杂，越要回归本质。竞争越激烈，越要把用户的触点做到极致二季度所有工作围绕这一逻辑展开，不是被动的去应对，而是在变化中更聚焦的坚持我们一贯的路径。As we enter ed twenty twenty six our strategy has stay focused on the fundamentals of the business.Centeredon doing well by the things our consumers trulycare about.In a first quarter we completed a systematic review of our organization product and marketing road map laying the foundation for highquality growthwhile the external environment sell some volativity in the second quarter these changes have only reinforced our conviction.The ability to navigate cycles ultimately comes downto genuine consumer recognation.The more complexthe market the more important it is to return to the fundamentals.The more intense the competition the more important it is to perfect every consumer touch point.All of our work in the secondquarter was built around this logic not as reactive response but as a more focused commitment to our proven path.茶饮行业啊，正在经历结构性的演变供给端呢。 当前鲜奶茶赛道啊，可以说是群雄逐鹿核心玩家悉数入局，行业竞争格局已经从增量的共荣，现在转向了存量的博弈竞争烈度。啊，极度上升，需求端呢代替价值整个价值观也被重构呃品牌叙事逻辑要进行迭代。过去高格调的和大城市的这种核心的逻辑，现在已然失效了当下用户所追求的呢？更多是自我的表达个性的彰显和回归本质的心灵疗愈。 所以，品牌应该化作和个体共鸣的温柔触点。以真诚贴心的细致细腻的方式来回应用户渠道端呢，外卖大战驱动下消费习惯发生了迁移。公寓市场大幅度的扩大，那现在已经成为各大品牌的主要战场之一了，在流量端呢分发的路径。逐渐现在多元化碎片化，要求品牌在精确追随用户迁移和高效配置资源上有更大的要求。 The tea beverage industry is going through a structural change on the supply side the fresh milky category is now crowded with more players anda competitive landscape has shavedfrom shared growth in an expending market to competition overa faith space.Raising the intensity of competition on the demand side shifting generational value require brands to find new ways of telling their story the old play book built on high profilepositioning and loud marketing has lost its effectivenesswhat customer are looking for to day it is individual self expression and a genuine sense of comfortbrands need to become a gentle chat point that resonates with the individual.Connecting through sincerity and responding to consumers with care.On the channel side intensify thecompetition among delivering platforms is reshaping consumer behaviorthe public domain has expended meaningfully and become a key competitive arena for brands.Meanwhile traffic distribution has become increasingly diversified and fragmentedbrands must closely track where consumers are moving and allocate resources efficiently.那面对这些变化呢？ 我们主要从四个维度在构建我们的能力第一呢，提升核心的能力在前台。我们将强化创新能力，向优而行，也向心而行，充分释放品牌与产业的产研的创造力，那中台呢？我们也在夯实我们的支撑能力。仅靠创新肯定是不够的，还需要强大的组织能力，调动更多的资源来实现目标。 所以我们持续提升运营体系的能力渠道的能力用户运营和it基础设施的能力，以支撑日益扩大的规模体量。 rcing our support infrastructure innovation alone is not enough we also need strong capabilitiesto mobilize resources and deliver our goalsweretherefore continuing to upgrading our operatingsystem channel capabilities consumer operationsand it infrastructure to support our growing skill第二调整产品的结构，我们在原一些奶茶之外啊，积极在探索更多的品类，比如二季度大家看到三星的查特调品类吉拉头品类的，那我们也希望可以通过更多阐释更多产品的品类形态，以满足用户日益多元的需求。 这要求我们持续改革。无论在供应链的能力还是运营体系的能力，都要为品类扩张提供更坚实的支撑。Second broadening our product mix beyond loosely fr esh milk tea were actively exploring additionalcat