* Operating income rose to RMB 524.7 million from RMB 107.6 million as operating expenses fell 10.4% to RMB 2.89 billion. * Chagee posted Q2 GAAP net income of RMB 464.8 million, up from RMB 77.2 million a year earlier. * Net revenues rose 2.5% year over year to RMB 3.41 billion, with franchised teahouse revenues down to RMB 2.47 billion. * Company-owned teahouse revenues climbed to RMB 940.6 million from RMB 311.2 million, reflecting a shift in teahouse mix. * Board authorized a US$ 150 million buyback; repurchased 2,570,000 ADSs for US$ 29.5 million, leaving US$ 120.5 million.
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