← Chagee Holdings Ltd.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
| Net Income From Continuing Operations | — | — | — | — | — | ($90.7m) | $802.6m | $2.5b | $1.2b | |
| Net Income (Loss) Attributable to Parent | — | — | — | — | — | ($90.7m) | $802.6m | $2.5b | $167.5m | |
| Net Income (Loss) Available to Common Stockholders, Basic | — | — | — | — | — | ($90.7m) | $802.6m | $1.4b | $1.0b | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | — | — | — | — | — | — | — | $2.5b | $169.6m | |
| Net Income (Loss) Attributable to Noncontrolling Interest | — | — | — | — | — | — | — | $17.4m | $15.2m | |
| Depreciation, Depletion and Amortization | — | — | — | — | — | $4.9m | $10.4m | $60.9m | $20.9m | |
| Depreciation, Depletion and Amortization | — | — | — | — | — | $4.9m | $10.4m | $60.9m | $20.9m | |
| Depreciation | — | — | — | — | — | $4.9m | $10.4m | $60.3m | $133.0m | |
| Amortization | — | — | — | — | — | — | $0 | $9k | $37k | |
| Depreciation Expense | — | — | — | — | — | — | — | $2k | $1k | |
| Depreciation Amortization Depletion | — | — | — | — | — | $4.9m | $10.4m | $60.9m | $146.4m | |
| Deferred Income Tax Expense (Benefit) | — | — | — | — | — | — | — | ($126.9m) | ($21.4m) | |
| Deferred income tax | — | — | — | — | — | ($21.7m) | ($95.8m) | ($126.9m) | ($149.6m) | |
| Deferred Tax | — | — | — | — | — | ($21.7m) | ($95.8m) | ($126.9m) | ($149.6m) | |
| Share-based Payment Arrangement, Noncash Expense | — | — | — | — | — | — | — | $603k | $103.5m | |
| Goodwill, Impairment Loss | — | — | — | — | — | — | — | $0 | $0 | |
| Share-based compensation | — | — | — | — | — | — | $10.5m | $603k | $723.5m | |
| Gain (Loss) on Disposition of Property Plant Equipment | — | — | — | — | — | — | $78k | $312k | ($441k) | |
| Income (Loss) from Equity Method Investments | — | — | — | — | — | — | — | $403k | $282k | |
| Income Tax Expense (Benefit) | — | — | — | — | — | — | — | $527.5m | $61.7m | |
| Other Nonoperating Income (Expense) | — | — | — | — | — | — | — | $118.2m | $17.6m | |
| Equity in earnings from equity method investments | — | — | — | — | — | — | — | ($403k) | ($2.0m) | |
| Operating lease liabilities | — | — | — | — | — | — | $45.4m | $439.2m | $727.4m | |
| Interest Expense | — | — | — | — | — | $0 | $107k | — | — | |
| Earnings (Loss)es From Equity Investments | — | — | — | — | — | $0 | $0 | ($403k) | ($2.0m) | |
| Changes in operating assets and liabilities: | ||||||||||
| Additional Financial Items | ||||||||||
| Increase (Decrease) in Accounts Receivable | — | — | — | — | — | — | — | $31.3m | $5.1m | |
| Increase (Decrease) in Inventories | — | — | — | — | — | — | — | $69.4m | $17.0m | |
| Increase (Decrease) in Accounts Payable | — | — | — | — | — | — | — | $127.8m | $6.7m | |
| Accounts Receivable, Credit Loss Expense (Reversal) | — | — | — | — | — | — | — | $3.6m | $700k | |
| Accrued capital expenditures | — | — | — | — | — | — | — | $225.5m | $59.6m | |
| General and Administrative Expense | — | — | — | — | — | — | — | $1.1b | $350.4m | |
| Goodwill | — | — | — | — | — | — | — | $11.8m | $14.0m | |
| Inventory Write-down | — | — | — | — | — | — | — | $143k | $265k | |
| Operating Costs and Expenses | — | — | — | — | — | — | — | $9.5b | $1.7b | |
| Provision for Loan, Lease, and Other Losses | — | — | — | — | — | — | — | $7.0m | $4k | |
| Unrealized Gain (Loss) on Investments | — | — | — | — | — | — | — | — | $1.4m | |
| Inventories provisions | — | — | — | — | — | — | $869k | $143k | $1.9m | |
| Provision for expected credit losses | — | — | — | — | — | — | $4.1m | $7.0m | $29k | |
| Loss from disposal of investments | — | — | — | — | — | — | $228k | — | $373k | |
| Fair value changes of short-term investments | — | — | — | — | — | — | ($944k) | — | ($9.8m) | |
| Unrealized exchange (gains)/loss | — | — | — | — | — | — | ($911k) | $5k | $14.9m | |
| Accounts receivable | — | — | — | — | — | — | ($75.6m) | ($31.3m) | ($35.7m) | |
| Inventories | — | — | — | — | — | — | ($9.2m) | ($69.4m) | ($119.0m) | |
| Prepayments and other current assets | — | — | — | — | — | — | ($55.4m) | ($214.0m) | ($170.8m) | |
| Amount due from related parties | — | — | — | — | — | — | $91k | ($1.5m) | ($536k) | |
| Right-of-use assets, net | — | — | — | — | — | — | ($47.6m) | ($428.0m) | ($735.7m) | |
| Other non-current assets | — | — | — | — | — | — | ($9.8m) | ($59.4m) | ($96.5m) | |
| Accounts payable | — | $9k | ($29k) | — | — | — | $384.0m | $127.8m | $47.2m | |
| Contract liabilities | — | — | — | — | — | — | $295.4m | $175.5m | ($22.7m) | |
| Taxes payable | — | — | — | — | — | — | $231.4m | ($63.5m) | ($42.0m) | |
| Accrued expenses and other liabilities | — | — | — | — | — | — | $337.5m | $506.7m | $155.7m | |
| Placements of time deposits | — | — | — | — | — | — | ($100.0m) | ($300.0m) | ($159.0m) | |
| Loans to third parties | — | — | — | — | — | $0 | ($20.5m) | ($5k) | — | |
| Repayments of loans from a third party | — | — | — | — | — | — | $1.0m | $20.0m | — | |
| Prepayments for the purpose of intangible assets | — | — | — | — | — | — | — | ($15.8m) | ($35.2m) | |
| Proceeds from short-term borrowings | — | — | — | — | — | — | — | $25.0m | $200.0m | |
| Repayment of short-term borrowings | — | — | — | — | — | — | — | ($27.1m) | ($200.0m) | |
| Payments for offering expenses | — | — | — | — | — | — | $0 | ($10.1m) | ($36.3m) | |
| Capital injection from non-controlling interests and redeemable non-controlling interests | — | — | — | — | — | — | $14.5m | $49.7m | $175.1m | |
| Accretion of convertible redeemable preferred shares to redemption value | — | — | — | — | — | — | $43.3m | $62.0m | $20.1m | |
| Increase in accrued expenses and other liabilities related to purchases of property and equipment | — | — | — | — | — | — | $2.0m | $45.2m | $76.1m | |
| Loss on convertible notes | — | — | — | — | — | — | $107k | $204k | $265k | |
| Interest receivable | — | — | — | — | — | $0 | ($13) | ($2k) | ($4k) | |
| Other receivable | — | — | — | — | — | — | $0 | ($7) | ($10k) | |
| Prepaid expenses | — | — | ($756) | $756 | ($2k) | $2k | $0 | ($105) | $105 | |
| Accounts payable and accrued liabilities | ($2k) | — | $29k | $26k | $31k | $57k | $70k | $40k | ($20k) | |
| Accrued interest payable | — | — | — | — | — | $0 | $5k | $33k | $51k | |
| Payment from convertible loan receivable | — | — | — | — | — | — | — | $0 | $31k | |
| Advancement on convertible loan receivable | — | — | — | — | — | — | — | ($5k) | ($31k) | |
| Payment from promissory loan receivable | — | — | — | — | — | — | — | $3k | $0 | |
| Advancement on promissory loan receivable | — | — | — | — | — | — | ($6k) | ($41k) | ($12k) | |
| Repayment to related party | ($1k) | — | ($36) | $0 | — | — | — | $0 | ($7k) | |
| Cancellation of common stock from related party | — | — | — | — | — | — | $258k | $369 | $0 | |
| Net loss | ($23k) | ($32k) | ($28k) | ($27k) | ($29k) | ($61k) | ($356k) | ($539k) | ($3.1m) | |
| Management salary payable | — | — | — | — | — | — | $0 | $11k | — | |
| Proceeds from issuance of convertible notes | — | — | — | — | — | — | $160k | $306k | — | |
| Operating expenses paid by related parties | — | — | — | — | — | $49k | $50k | $0 | — | |
| Net Changes in Cash | — | — | — | — | $15 | ($1k) | — | — | — | |
| Operating expenses paid by related party | — | — | $29k | $26k | $31k | $49k | — | — | — | |
| Inventory costs paid by related party | — | — | $51 | $0 | — | — | — | — | — | |
| Stock Repurchases (Issuances) | $32k | — | — | — | — | — | — | $1.5m | $7.7m | |
| Beginning Cash Position | — | — | — | — | — | $168.7m | $200.7m | $2.3b | $4.8b | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | ($33k) | $344.2m | ($173.9m) | $2.0b | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | ($11.0m) | ($146.7m) | ($229.5m) | ($825.0m) | |
| Change In Account Payable | — | — | — | — | — | $31.9m | $384.0m | $127.8m | $47.2m | |
| Change In Accrued Expense | — | — | — | — | — | $82.1m | $337.5m | $506.7m | $155.7m | |
| Change In Income Tax Payable | — | — | — | — | — | $8.2m | $231.4m | ($63.5m) | ($42.0m) | |
| Change In Inventory | — | — | — | — | — | ($6.3m) | ($9.2m) | ($69.4m) | ($119.0m) | |
| Change In Other Current Assets | — | — | — | — | — | ($13.9m) | ($57.4m) | ($487.4m) | ($832.2m) | |
| Change In Other Current Liabilities | — | — | — | — | — | $10.1m | $45.4m | $439.2m | $727.4m | |
| Change In Other Working Capital | — | — | — | — | — | $40.3m | $295.4m | $175.5m | ($22.7m) | |
| Change In Payable | — | — | — | — | — | $40.1m | $615.4m | $64.3m | $5.2m | |
| Change In Payables And Accrued Expense | — | — | — | — | — | $122.2m | $952.9m | $571.0m | $160.9m | |
| Change In Prepaid Assets | — | — | — | — | — | ($3.5m) | ($55.4m) | ($214.0m) | ($170.8m) | |
| Change In Receivables | — | — | — | — | — | ($5.2m) | ($75.5m) | ($32.8m) | ($36.3m) | |
| Change In Tax Payable | — | — | — | — | — | $8.2m | $231.4m | ($63.5m) | ($42.0m) | |
| Change In Working Capital | — | — | — | — | — | $143.8m | $1.1b | $382.0m | ($292.8m) | |
| Changes In Account Receivables | — | — | — | — | — | ($5.1m) | ($75.6m) | ($31.3m) | ($35.7m) | |
| Changes In Cash | — | — | — | — | — | $32.0m | $2.1b | $2.4b | $2.9b | |
| End Cash Position | — | — | — | — | — | $200.7m | $2.3b | $4.8b | $7.6b | |
| Financing Cash Flow | — | — | — | — | — | ($33k) | $344.2m | ($173.9m) | $2.0b | |
| Free Cash Flow | — | — | — | — | — | $32.3m | $1.9b | $2.6b | $1.2b | |
| Gain Loss On Investment Securities | — | — | — | — | — | $710k | $105.7m | — | $373k | |
| Gain Loss On Sale Of Business | — | — | — | — | — | — | $0 | $0 | $4.6m | |
| Gain Loss On Sale Of PPE | — | — | — | — | — | $963k | $865k | ($312k) | $3.1m | |
| Investing Cash Flow | — | — | — | — | — | ($11.0m) | ($146.7m) | ($229.5m) | ($825.0m) | |
| Issuance Of Capital Stock | — | — | — | — | — | $0 | $331.4m | $0 | $3.2b | |
| Net Business Purchase And Sale | — | — | — | — | — | $0 | ($2.0m) | ($10.8m) | ($123.4m) | |
| Net Foreign Currency Exchange Gain Loss | — | — | — | — | — | $0 | ($911k) | $5k | $14.9m | |
| Net Intangibles Purchase And Sale | — | — | — | — | — | $0 | $0 | ($15.8m) | ($35.2m) | |
| Net PPE Purchase And Sale | — | — | — | — | — | ($10.2m) | ($31.8m) | ($222.9m) | ($417.1m) | |
| Net Preferred Stock Issuance | — | — | — | — | — | $0 | $331.4m | $0 | $0 | |
| Operating Gains Losses | — | — | — | — | — | $1.7m | $105.7m | ($710k) | $21.0m | |
| Preferred Stock Issuance | — | — | — | — | — | $0 | $331.4m | $0 | $0 | |
| Provisionand Write Offof Assets | — | — | — | — | — | $1.2m | $5.0m | $7.1m | $19.1m | |
| Purchase Of Business | — | — | — | — | — | $0 | ($2.0m) | ($10.8m) | ($123.4m) | |
| Purchase Of Intangibles | — | — | — | — | — | $0 | $0 | ($15.8m) | ($35.2m) | |
| Purchase Of PPE | — | — | — | — | — | ($10.7m) | ($31.9m) | ($225.5m) | ($417.1m) | |
| Repurchase Of Capital Stock | — | — | — | — | — | $0 | $0 | ($210.1m) | $0 | |
| Sale Of PPE | — | — | — | — | — | $500k | $78k | $2.6m | $11k | |
| Stock Based Compensation | — | — | — | — | — | $3.9m | $10.5m | $603k | $723.5m | |
| Unrealized Gain Loss On Investment Securities | — | — | — | — | — | $0 | ($944k) | $0 | ($9.8m) | |
| Payables and accrued liabilities | — | — | — | — | — | — | — | ($109k) | $92k | |
| Cash provided by financing activities | — | — | — | — | — | — | — | $1.1m | $7.7m | |
| Net Cash Provided by (Used in) Operating Activities | ($25k) | ($23k) | $0 | ($500) | ($635) | ($2k) | $1.9b | $2.8b | $235.1m | |
| Cash flows from investing activities: | ||||||||||
| Payments to Acquire Property, Plant, and Equipment | — | — | — | — | — | ($10.7m) | ($31.9m) | $225.5m | $59.6m | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | — | — | — | — | — | — | $10.8m | $16.5m | |
| Cash paid for business combinations, net of cash acquired | — | — | — | — | — | — | — | ($10.8m) | ($115.4m) | |
| Purchase of short-term investments | — | — | — | — | — | — | ($236.5m) | — | ($4.4b) | |
| Net Investment Purchase And Sale | — | — | — | — | — | $452k | ($97.4m) | $0 | ($249.3m) | |
| Purchase Of Investment | — | — | — | — | — | $0 | ($336.5m) | ($300.0m) | ($4.5b) | |
| Gain (Loss) on Sale of Investments | — | — | — | — | — | — | — | — | ($53k) | |
| Maturity of short-term investments | — | — | — | — | — | — | $238.3m | — | $4.3b | |
| Sale Of Investment | — | — | — | — | — | $452k | $239.1m | $300.0m | $4.3b | |
| Net Other Investing Changes | — | — | — | — | — | ($1.2m) | ($15.5m) | $20.0m | — | |
| Net Cash Provided by (Used in) Investing Activities | — | — | — | — | — | $0 | ($146.7m) | ($229.5m) | ($118.0m) | |
| Cash flows from financing activities: | ||||||||||
| Proceeds from Debt Issuance | — | $500 | $0 | $200 | $650 | $0 | $0 | $4k | $0 | |
| Issuance Of Debt | — | — | — | — | — | $0 | $0 | $25.0m | $200.0m | |
| Net Issuance Payments Of Debt | — | — | — | — | — | $0 | $0 | ($2.2m) | $0 | |
| Net Short Term Debt Issuance | — | — | — | — | — | $0 | $0 | ($2.2m) | $0 | |
| Short Term Debt Issuance | — | — | — | — | — | $0 | $0 | $25.0m | $200.0m | |
| Repayment Of Debt | — | — | — | — | — | $0 | $0 | ($27.1m) | ($200.0m) | |
| Short Term Debt Payments | — | — | — | — | — | $0 | $0 | ($27.1m) | ($200.0m) | |
| Issuance of common stock for conversion of convertible note | — | — | — | — | — | — | $0 | $41k | $34k | |
| Issuance of common stock for deferred business acquisition cost | — | — | — | — | — | — | $0 | $162k | $0 | |
| Issuance of common stock for acquisition of software from related party | — | — | — | — | — | $0 | $258k | — | — | |
| Common stock issued for repayment of related party loan | — | — | — | — | $0 | $135k | — | — | — | |
| Common Stock Issuance | — | — | — | — | — | — | $0 | $0 | $3.2b | |
| Net Common Stock Issuance | — | — | — | — | — | $0 | $0 | ($210.1m) | $3.2b | |
| Payments for Repurchase of Common Stock | — | — | — | — | — | — | — | $210.1m | — | |
| Payments of Ordinary Dividends, Common Stock | — | — | — | — | — | — | — | — | $176 | |
| Common Stock Payments | — | — | — | — | — | $0 | $0 | ($210.1m) | $0 | |
| Proceeds from Noncontrolling Interests | — | — | — | — | — | — | — | $49.7m | $25.0m | |
| Payments of Dividends | — | — | — | — | — | — | — | — | $176 | |
| Dividends to non-controlling shareholders | — | — | — | — | — | — | ($2) | ($1) | ($0) | |
| Cash Dividends Paid | — | — | — | — | — | — | $0 | $0 | ($1.2b) | |
| Common Stock Dividend Paid | — | — | — | — | — | — | $0 | $0 | ($1.2b) | |
| Net Other Financing Charges | — | — | — | — | — | ($33k) | $12.8m | $38.3m | $98.0m | |
| Net Cash from Financing Activities | $31k | $500 | ($36) | — | — | — | — | ($139k) | ($44k) | |
| Net Cash Provided by (Used in) Financing Activities | — | — | ($36) | $200 | $650 | $500 | $344.2m | ($173.9m) | $292.7m | |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash | — | — | — | — | — | $0 | ($9.2m) | $11.8m | ($992k) | |
| Effect of Exchange Rate on Cash | — | — | — | — | — | — | — | ($3k) | ($11k) | |
| Effect Of Exchange Rate Changes | — | — | — | — | — | $0 | ($9.2m) | $11.8m | ($992k) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | — | — | — | — | — | $2.4b | $409.7m | |
| Net increase in cash and cash equivalents and restricted cash | — | — | — | — | — | ($1k) | $2.1b | $2.4b | $2.9b | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | — | — | — | $681.9m | $1.1b | |
| Cash and cash equivalents and restricted cash at the beginning of the year | — | — | — | — | $1k | $1k | $2.3b | $4.8b | $7.6b | |
| Net Changes in Cash and Cash Equivalents | — | ($22k) | $43 | ($300) | $15 | — | — | — | — | |
| Cash and Cash Equivalents, beginning of the year | $18k | — | $2k | $2k | $1k | — | — | — | — | |
| Cash and Cash Equivalents, end of the year | — | $24k | $2k | $1k | — | — | — | — | — | |
| Supplemental disclosure of cash flow information: | ||||||||||
| Change In Cash Supplemental As Reported | — | — | — | — | — | $32.0m | $2.1b | $2.4b | $2.9b | |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | — | $0 | $0 | $0 | $0 | $0 | $12k | $152k | |
| Income Taxes Paid, Net | — | — | $0 | $0 | $0 | $0 | ($207.0m) | ($644.3m) | ($90.1m) |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.