Chinese Tea Industry Heats Up: Cha 100 Ways and Ba Wang Tea Ji Collaborate in New Venture
On November 20th, two major players in the Chinese tea industry, Cha 100 Ways and Ba Wang Tea Ji, announced their joint establishment of Sichuan Rongshang Jiahe Technology Co., Ltd. The company's legal representative is Shang Faming, with a registered capital of 5 million yuan set for enterprise management, supply chain management services, social and economic consultation services, biobased material manufacturing, standardization services, and plastic product manufacturing. The equity penetrating map indicates that the company is controlled by four entities.
23 November 2023
The announcement has sparked excitement among Chinese tea enthusiasts on Weibo, China's most popular microblogging platform. Many netizens have taken to social media to express their excitement about the collaboration while others have expressed curiosity and even some skepticism about the new venture.
One user, "Tea Goddess," tweeted: "Hahaha, called domineering tea CEO is also OK! This isn't just the prestige of Chinese tea in your mind? Are you here to take on Momo Chongcheng?" The tweet suggests that the joint venture could provide stiff competition for Momo Chongcheng, another well-known tea brand in China.
Another Weibo user, "Tea Cat," shared news about a new tea cat brand under Lv Zhengyue's establishment being confirmed by Kaiji News. The company plans to adopt a joint venture mode with risk sharing and the first test store has already been opened. This announcement indicates that competition in the Chinese tea industry is heating up, with more companies looking to create their own unique niche within the market.
Meanwhile, netizens have voiced their curiosity about what the joint venture between Cha 100 Ways and Ba Wang Tea Ji might yield. Some users have speculated that the two companies may collaborate on new tea products in the future, while others have joked about the possible subsidiary company names such as "Cha Biji" or "Bao Da Cha Ji." The humorous comments suggest a sense of excitement and anticipation among Chinese tea enthusiasts.
However, not all responses were positive. Some users expressed skepticism about the joint venture, with one tweeting: "I'll stick with this couple for now. Can you make it cheaper?" Others joked about the company's name, referring to previous failed businesses and suggesting that the success of Sichuan Rongshang Jiahe Technology Co., Ltd remains to be seen.
One user, "Even enemies can become friends as long as they are making profit from the people!" highlighted the idea that even former rivals could find common ground in business, provided there is mutual benefit and growth for all parties involved.
Lastly, a user named "Happy Milk Tea" tweeted: "More and more people are enjoying drinking milk tea, why?" The comment sparked discussions about the growing popularity of milk tea in China and what factors might be driving this trend. Some respondents suggested it could be due to its unique taste or health benefits, further showing that the Chinese tea market is a dynamic and evolving industry with diverse consumer preferences.
In conclusion, the joint venture between Cha 100 Ways and Ba Wang Tea Ji has generated significant interest among Weibo netizens. The announcement of their new company, Sichuan Rongshang Jiahe Technology Co., Ltd., brings a range of possibilities for the future of Chinese tea industries. While some netizens have expressed skepticism and humor about the venture, others are excited to see what this collaboration might bring to the world of Chinese tea. Only time will tell if this new company will be able to live up to its potential and make a significant impact in the competitive market.