Mixue Ice Cream & Tea

This article is about the Chinese dessert chain. For the Chinese musical artist, see Mi Xue.
Mixue Group
Native name
Chinese蜜雪冰城股份有限公司
Literal meaningHoney Snow Ice City Joint Stock Limited Company
Company typePublic
SEHK: 2097
IndustryFood and drink
FoundedJinshui District, Zhengzhou, Henan, China
(June 1997 (1997-06))
FounderZhang Hongchao
Number of locations
46,479 (December 31, 2024)[1]: 7 
Area served
Mainland China, Hong Kong, Macau, Australia, South Korea, Japan, Southeast Asia, and Kazakhstan
Key people
Zhang Hongchao (President Director)
ProductsIce cream, bubble tea, and tea
RevenueIncrease RMB24.8 billion[1]: 99  (2024)
Increase RMB5.81 billion[1]: 99  (2024)
Increase RMB4.45 billion[1]: 99  (2024)
Websitemixuemenu.com

Mixue Ice Cream & Tea (Chinese: 蜜雪冰城; pinyin: Mìxuě Bīngchéng; lit. 'honey snow ice city') is a Chinese multinational fast-food restaurant chain specializing in ice cream & tea-based drinks. It was founded in 1997 in Zhengzhou by Zhang Hongchao.

As of early 2025, it operated more than 45,000 stores in China and overseas, which makes it the world’s largest food-service chain by number of stores. Most locations are franchised and the company generates a large share of revenue by supplying ingredients, equipment, and packaging to franchisees. Its menu emphasizes low-priced items such as soft-serve and milk tea.

Mixue’s parent company, Mixue Group, listed in Hong Kong on March 3, 2025. The initial public offering raised about HK$3.45 billion (approximately US$444 million at the time) and the shares rose by about 40–47% on the first day of trading.

History

Mixue's mascot, "Snow King" (雪王)

In June 1997, Zhang Hongchao was studying at Henan University of Economics and Law when he opened a shaved‑ice stall in Zhengzhou using a 3,000‑yuan loan from his grandmother.[2] The stall’s early success convinced him to expand, and in 1999 he opened a second stand called Mixue Bingcheng.[3]

Due to a lack of experience, Hongchao had closed three stores in a little more than a year. Following the closure of his third store, he went to Hefei in order to sell tanghulu, which also failed.[4] In the spring of 1999, Hongchao returned to Zhengzhou to start a new cold drink shop, though this would also be demolished; the failures of these street stalls were attributed to poor locations and the ongoing urbanization in China.[4]

Timeline

Mixue Ice Cream & Tea began in 1997 when Zhang Hongchao opened the first location under the Mixue name.[5] After six relocations, the first successful Mixue Ice Cream & Tea store opened in 2003.[6][4] Around 2005 or 2006,[7] the company introduced soft serve ice cream at the price of just 1 yuan, which quickly became a best-seller and its first signature product;[8] by the first nine months of 2023, Mixue had sold approximately 442 million ice cream cones in China.[9]

In 2007, Mixue began franchising after opening a new ice cream shop. The following year, it established Mixue Ice Cream & Tea Trading Co., Ltd. to manage its growing network of franchises.[10] In 2012, Henan Daga Food Co., Ltd. was founded to support self-production of raw materials for the franchise, and by 2014, the company had developed the Mixue Ice Cream & Tea Logistics Park to streamline distribution as it continued expanding across China.

Mixue took its first step outside of China on September 5, 2018, with a store opening in Hanoi, Vietnam.[11] Later that year, in November, it launched a new brand mascot, Snow King.[12][13] Between May 24 and 26, 2019, the company hosted an "ice cream music festival" at Opalala Water Park in Zhengzhou,[14] drawing over 30,000 visitors. On June 24, 2020, Mixue celebrated the opening of its 10,000th store in Yuanyang County, Henan, Xinxiang.[15] That same year, it expanded into Indonesia with a branch in Cihampelas Walk, Bandung.[16]

Mixue reportedly went public for the first time on September 30, 2021. In 2022, the company made significant purchases of over 9,000 tons of tea, benefiting around 50,000 tea farmers, while also supporting over 11,000 franchisees and generating more than 500,000 jobs. It launched a 6.5 million yuan scholarship program across five universities in Henan[17] and expanded into additional Southeast Asian markets, opening stores in Singapore,[18] Thailand, Cambodia, The Philippines, Laos, and Myanmar.[19] By the end of 2022, Mixue had also entered South Korea and Japan.[20][21]

In February 2023, the company debuted in Australia with a store in Sydney,[22][23] followed by additional openings in Melbourne and Brisbane.

On March 3 2025, Mixue Group went public through an initial public offering on the Hong Kong Stock Exchange in what was then the city’s largest initial public offering of the year. The company sold 17 million shares at HK$202.5 each, raising about HK$3.45 billion (US$444 million).[24]

Controversies

Food safety

In December 2022, journalists from The Beijing News applied for jobs at two stores in Nanjing, where they were not required to sign labour contracts and discovered that "discarded" ingredients and "corner-cutting measures" were being used. The story was reported in March 2023, and as of March 14, 2023, the number of complaints on the Black Cat Complaint Platform reached 4,435, most of which were food safety issues.[25]

Illegal use of child labour

On April 2, 2022, a Mixue drink shop in Tiantai County was fined 12,500 yuan for the illegal use of child labor by the local comprehensive administrative enforcement bureau after hiring a 15-year-old girl.[26] The owner of the punished franchise store admitted fault in an interview with the media and said he realized his mistake to hire the 15-year-old minor, but claimed that her family had abandoned the minor, and so he sympathetically let her work at his store. He confirmed that the minor had since left.[27] In July of the same year, Liaocheng Chiping County Mixue drink shop was fined 5,000 yuan for the illegal use of child labor.[28]

Halal certification in Indonesia

Mixue products in Indonesia have been certified halal since February 2023, after the Institute for Food, Drugs and Cosmetics Assessment of the Indonesian Ulema Council (LPPOM MUI) issued halal certification of ingredients used in their products.[29][30] Before certification, Indonesians had questioned the absence of halal certification in Mixue's products.[31]

References

  1. ^ a b c d 2024 Annual Report (PDF). Hong Kong Exchanges and Clearing. 2025-04-23.
  2. ^ Smith, Dave (June 2, 2025). "A 21-year-old asked his grandmother for money to open a street-food stall. Now, it's the world's largest fast-food chain, eclipsing McDonald's". Fortune. Retrieved 2025-08-15.
  3. ^ Lee, Zinnia (March 3, 2025). "Billionaire Brothers' Chinese Bubble Tea Giant Mixue Surges In Hong Kong Debut". Forbes. Retrieved 2025-08-15. Two years later, Hongchao opened another shaved ice stall called Mixue Bingcheng, meaning 'sweet snow palace.' He first tasted success in 2005, when Mixue launched soft-serve ice cream, which became a big hit thanks to its competitive pricing.
  4. ^ a b c "蜜雪冰城23年血泪创业史: 关门3次, 被拆4次, 创始人被弟弟"怼"出局_张红超". www.sohu.com. Retrieved 2023-06-23.
  5. ^ 商讯 (2020-06-24). "蜜雪冰城门店规模破万 河南品牌走向全球_新浪河南_新浪网". henan.sina.com.cn. Retrieved 2023-06-07.
  6. ^ 徐一 (2020-10-13). "估值200亿、高瓴及美团系入股?蜜雪冰城紧急回应 | 极刻". www.dahecube.com. Retrieved 2023-06-07.
  7. ^ 江飞 (2021-01-25). "3元/支卖到爆, 茶饮店要不要学习蜜雪冰城上冰淇淋?|界面新闻 · JMedia". www.jiemian.com. Retrieved 2023-06-23.
  8. ^ Michelle Toh; Hassan Tayir (2024-01-04). "Two of China's bubble tea giants are gearing up for IPOs". CNN.
  9. ^ ZHENG YIRAN (2024-03-27). "Mixue's rags-to-riches tale inspirational for peer firms". China Daily.
  10. ^ 刘睿祎 (2022-12-12). "透视蜜雪冰城IPO: 直营门店毛利率为负 百亿营收加盟商占绝对"优势"-新华网". www.xinhuanet.com. Retrieved 2023-06-23.
  11. ^ 澎湃新闻 (2021-07-23). "卷入越南, 蜜雪冰城能延续甜蜜蜜吗?". finance.sina.com.cn. Retrieved 2023-06-07.
  12. ^ 红星新闻 (2021-10-13). "蜜雪冰城, 失去"雪王"?|蜜雪冰城|国家知识产权局_新浪科技_新浪网". Archived from the original on 2021-10-13. Retrieved 2023-06-23.
  13. ^ 窄门餐眼 (2022-11-18). "2022年全球排名100连锁餐饮品牌榜单揭晓". www.foodtalks.cn. Retrieved 2023-06-23.
  14. ^ 王勇生 (2019-05-30). "蜜雪冰城冰淇淋音乐节罗志祥汪苏泷等20多位明星大咖精彩开唱, 现场挑战3000人同吃冰淇淋!_央广网". hn.cnr.cn. Retrieved 2023-06-07.
  15. ^ 彭华 (2020-06-24). "蜜雪冰城门店规模破万, 河南品牌走向全球_央广网". hn.cnr.cn. Retrieved 2023-06-07.
  16. ^ "Mixue on the march: ice cream serves soft power for China in Southeast Asia". The Jakarta Post. Retrieved 2023-07-20.
  17. ^ 河南日报 (2023-04-13). "蜜雪冰城发布2022年社会责任报告 全产业链带动超50万人就业". Weixin Official Accounts Platform. Retrieved 2023-06-07.
  18. ^ "Famous Chinese Soft-Serve Chain Mixue, Opens Their First S'pore Outlet In Clementi With $1 Soft-Serve Cones!". Singapore Foodie. 2022-03-07. Retrieved 2022-12-29.
  19. ^ Pandaily (2022-11-16). "Chinese Tea Brands Including Mixue and HeyTea Eye Southeast Asia". Pandaily. Retrieved 2022-12-29.
  20. ^ "小红书". www.xiaohongshu.com. Retrieved 2022-12-29.
  21. ^ Pandaily (2022-12-05). "Chinese Tea Chain Mixue Enters South Korea and Japan". Pandaily. Retrieved 2022-12-29.
  22. ^ Pandaily (2023-02-15). "Chinese Tea Chain Mixue Opens First Store in Australia". Pandaily. Retrieved 2023-02-18.
  23. ^ Dong, Irene (2023-02-17). "Chinese tea chain Mixue opens its first Australia location, in Sydney". Inside Retail. Retrieved 2023-02-18.
  24. ^ Murdoch, Scott; Yu, Sophie; Li, Jiaxing (March 3, 2025). "China bubble tea chain Mixue pops 47% on debut as Hong Kong IPO volumes rebound". Reuters. Retrieved 3 March 2025.
  25. ^ 迟道华 (2023-03-15). "蜜雪冰城不要在食品安全问题上屡屡翻车 | 新京报快评". www.bjnews.com.cn. Retrieved 2023-06-23.
  26. ^ 媒体滚动 (2022-04-10). "蜜雪冰城"童工事件"上热搜, 今年还能上市吗?". finance.sina.com.cn. Retrieved 2023-06-23.
  27. ^ laitimes (2022-04-08). "Franchise stores were exposed to use child labor 20,000 Michelle Ice City is sprinting for an IPO". laitimes. Retrieved 2023-11-14.
  28. ^ 三言财经 (2022-07-13). "蜜雪冰城门店再因违法使用童工被罚". finance.sina.com.cn. Retrieved 2023-06-23.
  29. ^ "Tetapkan Kehalalan Mixue Ice Cream & Tea, MUI: Produknya Halal dan Suci". Majelis Ulama Indonesia. 2023-02-16. Retrieved 2025-02-11.
  30. ^ Situmorang, Hendro D. W. I. R. (ed.). "MUI Paparkan Proses Mixue dalam Mengajukan Sertifikasi Halal". beritasatu.com (in Indonesian). Retrieved 2023-02-18.
  31. ^ Henry (2022-12-29). "Sudah Buka di Banyak Tempat, Mengapa Mixue Indonesia Belum Tersertifikasi Halal?". liputan6.com (in Indonesian). Retrieved 2022-12-29.
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