Bawang Tea's queen Zhang Junjie talks about the "takeout war": Determined to be a high-value brand, resolutely not engaging in price wars.

In the analyst conference call, Zhang Junjie, founder, chairman, and global CEO of Heytea, discussed the "takeout war." He believes that Chinese companies are going through a development stage from "Made in China" to "Chinese brands," and that price wars may attract consumer behavior in the short term, but in the long run, they do not conform to the path of quality life and high-quality development. In the face of price wars, Heytea adheres to three principles: resolutely not blindly following the trend of price wars; sticking to a high-value brand strategy; and improving operational efficiency through technological innovation and refined operations.