Investment advice and rationale for CHABAIDAO:

**Recommendation:**

Before considering investing in CHABAIDAO, investors should conduct comprehensive market analysis and risk assessment. As one of the representative brands in the new-style tea beverage industry, CHABAIDAO has achieved rapid growth and market expansion in recent years. However, investment decisions should be based on a comprehensive consideration of the company's financial status, market position, industry trends, competitive environment, and macroeconomic factors. Investors are advised to focus on the following points before making a buy decision:

1. **Financial Performance**: CHABAIDAO has demonstrated strong growth momentum in recent years, with significant increases in retail sales and operating income. In 2022, CHABAIDAO's retail sales reached approximately 13.3 billion yuan, showcasing its strong market appeal and profitability.

2. **Market Expansion**: The number of CHABAIDAO stores has grown rapidly, covering all provinces and cities across mainland China, indicating the company's strong market penetration and brand influence.

3. **Product Innovation**: CHABAIDAO emphasizes product R&D and innovation, continuously launching new products to meet the diverse needs of consumers, which helps the company maintain competitiveness in a highly competitive market.

4. **Social Responsibility and Environmental Protection**: CHABAIDAO actively undertakes social responsibilities, participating in public welfare and environmental activities, which not only enhances its brand image but also aligns with current consumer expectations for corporate social responsibility.

5. **Delivery Business**: CHABAIDAO's delivery business performed well during the pandemic, helping the company maintain stable revenue in an uncertain market environment.

**Rationale:**

1. **Industry Growth**: The new-style tea beverage market continues to grow, with rising consumer demand for healthy and convenient beverages, providing development opportunities for brands like CHABAIDAO.

2. **Brand Advantage**: Through unique products and brand IP, CHABAIDAO has successfully attracted young consumers and built strong brand loyalty.

3. **Franchise Model**: The franchise model adopted by CHABAIDAO facilitates rapid expansion while maintaining low operational costs and risks.

4. **Supply Chain Management**: CHABAIDAO's strict supply chain management and high standards for raw materials ensure product quality and stability.

5. **Market Potential**: CHABAIDAO ranks third in the new-style tea beverage market, with a market share of 6.6%, demonstrating its leading position in the industry and potential for further growth.