June 27, 2022

Chinese language media outlet 36Kr discovered on Wednesday that lemon tea logo Ningji has just lately invested in Changsha-based native espresso logo RUU, and has turn out to be its wholly-owned dad or mum corporate.

Ningji used to be established in February 2021 within the Chinese language town of Changsha. It’s principally engaged in hand-made lemon tea with more than a few flavors. At this time, the logo has introduced greater than 10 merchandise, with costs starting from 16 yuan to 18 yuan ($2.37 – 2.67).

In not up to 12 months, it has opened greater than 300 retail outlets in Changsha, Wuhan, Nanchang, Guizhou, and Hainan. It additionally has gained a number of hundred million yuan in funding from ByteDance, Shunwei Capital and Tencent, and used to be as soon as referred to as the “darkish horse” within the new tea trade.

Hunan Sanfa Catering Control Co., Ltd. is the operator of Ningji. On July 9, 2021, the corporate made adjustments to its authentic registration with China’s Commercial and Business Management, appearing that Beijing Quantum Bounce Era Co., Ltd., an affiliated corporate of ByteDance, used to be added as a shareholder with 10.53% of the stocks. On the identical time, the registered capital of Sanfa larger from 2 million yuan to two,235,300 yuan.

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The founding crew contributors of RUU are principally former workers of Starbucks and ByteDance. It’s principally engaged in direct operations, and the collection of retail outlets to be opened in June is anticipated to exceed 5, principally in Changsha, Hunan Province.

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