Galaxy Securities: The subsidy war among takeout platforms drives a surge in custom tea drink orders, helping franchisees repair profitability.

China Galaxy Securities research report stated that since April, platforms such as Meituan, Eleme, and JD have launched a large number of subsidy activities, leading to a sharp increase in the orders of freshly made tea drinks. On the one hand, the significant flow tilt of the platforms has greatly boosted the order volume of the top tea drink brands. At the same time, subsidies have been passed on to the level of franchisees, significantly improving the profitability of franchisees and increasing the takeaway rate. In addition, the stabilizing trend of the prices of freshly made tea drink brands is continuing, and the average customer spending and cup price are expected to continue to rise during the year.