Mixue Shares Plummet as Profit Drops Amid Rising Costs

Mixue Group's shares have been sliding after its first-half profit dropped by nearly 15% year-over-year to 2.32 billion yuan ($345.2 million) for the six months ended June.

The company reported a 14.7% decline in profit, with revenue rising only 2.3% to 15.22 billion yuan during this period.

Mixue's profitability was affected by increasing costs and expenses, including a 39.4% rise in administrative expenses due to higher staff costs.

The company is expanding its presence globally, with over 63,987 stores across the world, surpassing McDonald's numbers.