Chinese bubble-tea giant Mixue pops 47% on debut as investor demand surges

['Shuang Jing', 'More Shuang Jing', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar'] TechNode 2025-03-03 00:00:00

Why it matters: Mixue’s explosive debut underscores strong investor appetite for China’s budget-friendly beverage market, despite general economic uncertainties. Mixue shares surged as much as 47% in Hong Kong debutIndividual investors sought HKD 1.8 trillion ($230.8 billion) in margin financing for equity purchases. After failed attempts to list on China’s A-share market in 2022 and Hong Kong’s stock exchange in 2024, the bubble tea giant finally succeeded this month with its Hong Kong debut. The company’s Hong Kong listing broke records previously held by short-video platform Kuaishou, which raised HKD 1.5 trillion ($192.3 billion) during its 2021 IPO. Kuaishou shares have since fallen from their IPO price of HKD 115 ($14.74) to HKD 55 ($7.05) as of March 2025.