The Tamesis
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This post belongs to Forbes’ 2025 China Rich Listing protection. Sight complete listing below
Zhang Hongchao and Zhang Hongfu, the siblings behind Chinese bubble tea gigantic Mixue Team, debuted on this year’s positions with a total assets of $8.5 billion each. Mixue’s shares have actually increased because its going public (IPO) in March, elevating $444 million. Front runner brand name Michelle Ice City, understood for its $1 gelato, bubble tea and coffee, is just one of the globe’s biggest food and drink chains with 47,000 shops.
In the very first 6 months of 2025, the team included almost 9,700 shops in landmass China and regarding 130 shops in various other areas, bringing the overall variety of shops to 53,000, a lot of which are franchise business shops, consisting of 6,000 under the coffee chain Lucky Mug.
Many thanks to its quickly broadening shop network, solid supply chain and low-price method, the firm’s first-half earnings raised 39% to 14.9 billion yuan ($ 2.1 billion), and internet revenue raised 44% to 2.7 billion yuan. In September, Michelle authorized a bargain to consist of Fresh Beer, in which it would certainly pay $42 million for a 53% risk in Fulujia, a craft beer chain regulated by Hongfu’s other half Tian Haixia.
