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Hama Tea reports 65% profit surge on franchise expansion and online growth

Hama Tea (06980.HK) posted H1 2026 revenue of 1.402 billion yuan (approx. ¥330 billion), up 31.8% year-on-year, with net profit attributable to shareholders reaching 198 million yuan (approx. ¥47 billion), up 65.3%. Profit growth outpaced revenue growth due to lower period-expense ratios despite a slight 0.7-point decline in gross margin. The company accelerated a shift toward franchising, adding 81 net franchise locations while reducing company-operated stores by 9; oolong t…

Hama Tea reports 65% profit surge on franchise expansion and online growth
Photograph: Google News — Matcha / Tea Industry
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Key points
  • H1 2026: Revenue ¥330bn (+31.8% YoY), net profit ¥47bn (+65.3%); dividend proposed at 1.2 yuan per share
  • Gross margin dipped 0.7 points to 54.6% despite higher advertising spend (¥46bn, +39.5%); profit driven by cost-ratio ef…
  • Franchise model accelerating: net +81 franchises vs. −9 company stores; 3,619 franchise outlets vs. 226 direct by June 2…
  • Oolong tea led growth at ¥110bn (+52.3%); self-produced goods ratio rose to 60.8%, improving supply-chain control
  • Quick-commerce (flash delivery) GMV surged 156% YoY, emerging as new revenue engine alongside traditional e-commerce (+3…

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The numbers
H1 2026 revenue: 14.02億元 H1 2026 net profit (shareholders): 1.98億元 Proposed interim dividend per share: 1.2元 H1 2026 gross margin: 54.6%
What they said
“The structural shift of +81 net franchise outlets and −9 company stores signals deepening dependence on the franchise model.”
加盟店が81店の純増、直営店が9店の純減という構造変化は、同社の加盟体制への依存がさらに深まっていることを示している。
“H1 2026 quick-commerce GMV jumped 156% year-on-year, emerging as a new engine to monetize traffic across all channels.”
2026年上半期の即時小売GMVは前年同期比156%増となり、全チャネルのトラフィックを収益化する新たなエンジンとなっている。
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