# Snow King

The Snow King’s Gambit: Mixue Bingcheng Pivots from Budget Tea to Corporate Maturation

Mixue Bingcheng is undergoing a major corporate evolution, transitioning from a family-run budget tea brand to a professionalized global player. The company is investing billions in green supply chains and IP-driven entertainment while navigating the complex ESG demands of its 40,000-store franchise network.