Leading the new trend of tea drink innovation, CHABAIDAO won the "Annual Product Innovation Award" in 2024.

In recent days, the "2024 Annual New Consumer Food Power List" organized by Chengdu Daily Jinguang Media, a comprehensive selection involving industry associations, industry representatives, consumer representatives, etc., has been officially announced. CHABAIDAO (02555), as the only brand in the new tea drink industry, won the "Annual Product Innovation Award". This award aims to recognize outstanding examples of product innovation in various industries. Product innovation capability has always been the basic and essential question in the competition of the new tea drink industry. Whether a brand can accurately grasp consumer trends and launch popular best-selling products is an important criterion for measuring the brand's product innovation capability. In recent years, with the improvement of living standards, consumers are paying more attention to dietary health. "Healthy new tea drinks" has become a trend in the industry. Data from Ai Media Consulting shows that 42.9% of consumers will reduce consumption of instant tea drinks because they are "unhealthy" or "afraid of gaining weight". CHABAIDAO previously launched the "Super Veggie" series best-selling products such as "Qingti Wheatgrass" and "Light and Smooth Kale", which quickly won the love of consumers. More than half of the stores' top-selling products are these two new products, and many stores have even experienced shortages at one point. On December 23, CHABAIDAO introduced a new product in the "Super Veggie" series, the "Red Qi Roselle Hawthorn Cherry", using ingredients such as cherries rich in anthocyanins and iron elements, as well as roselle and other "superfoods", focusing on "antioxidant, tonifying blood and qi". While continuing to lead the development of "healthy new tea drinks", its product innovation capabilities have also gained wide recognition in the capital market. Tianfeng recently released its first coverage report on CHABAIDAO, stating that in terms of product strength, CHABAIDAO integrates classic products with seasonal limited-edition products to lead the market with high cost performance. At the same time, CHABAIDAO continuously launches innovative products to meet the changing preferences of consumers, consolidating its leading position in the market. Considering CHABAIDAO's competitive advantages in various aspects, Tianfeng gives a "buy" rating and is optimistic about the huge growth potential of the Chinese instant tea drink market and the development potential of CHABAIDAO's international business as a second curve, believing that CHABAIDAO's stock price still has considerable room for further growth.