Peng Xin

Asian Cover Figure | Peng Xin: Redefining the Aesthetic of China's New Tea Era, Starting from One Cup of Tea

Asian "Cover Figure" Magazine · Women's Influence

Among the most noteworthy industry transformations in China's consumer sector over the past decade, the rise of new tea drinks is undoubtedly one of the most captivating chapters. This track grew from street-side milk tea shop upgrades into a massive market worth hundreds of billions annually, spawning a group of nationally influential consumer brands. Among the many new tea brands, Nayuki stands out with its unique brand positioning and product philosophy. Its founder is Peng Xin.

Peng Xin, founder of Nayuki. Starting from a simple wish to "make a delicious cup of tea," she led her team in building a new tea brand integrating premium tea drinks, baked goods, and third-space experience. In 2021, Nayuki listed on the Hong Kong Stock Exchange Main Board, becoming the "first new tea stock," marking the formal entry of China's new tea industry into a new phase of capitalization.

I. The Origin: From Office Worker to Tea Entrepreneur

Before founding Nayuki, Peng Xin was no industry veteran. Public information shows she had a corporate white-collar career before entering the tea industry. However, she had a heartfelt passion for tea and beverages, which gradually transformed into entrepreneurial drive over time.

Around 2015, China's tea market was undergoing deep consumption upgrading. Traditional street-side milk tea shops, while numerous, suffered from weak branding, low product standardization, and monotonous consumer experience. Meanwhile, new-generation consumers demanded higher quality, visual appeal, and spatial experience. Peng Xin keenly identified this gap — consumers needed a good cup of tea and a comfortable space to enjoy it.

In 2015, Nayuki was born in Shenzhen. The brand name draws from the "Xin" in Peng Xin's name, also embodying the philosophy of "making tea with heart." From the first store, she established clear brand direction: premium tea leaves as the base, paired with fresh fruits and creative recipes, creating products with both quality and style, alongside comfortable, beautiful consumer spaces.

II. Product Power: Redefining Tea Standards with "Good Tea, Good Fruit, Good Milk"

Nayuki's R&D investment has long led the new tea industry. Peng Xin's product requirements are nearly exacting — tea origin selection, fruit freshness, flavor balance — every element undergoes repeated testing and optimization.

Nayuki was among the earliest brands to introduce the "fresh fruit tea" category. While most peers still used fruit jams and powders, Nayuki insisted on fresh-cut fruits, bringing consumers a more natural, healthier experience. "Dominating Cheese Strawberry" and "Dominating Orange" became social media sensations, driving the industry's upgrade from the "milk tea era" to the "fresh fruit tea era."

Beyond product innovation, Peng Xin pioneered the "tea + soft European bread" category combination, breaking traditional tea shops' single-drink limitation by introducing baked goods, enriching consumption scenarios, and boosting average transaction value and customer dwell time. This composite model was later widely adopted across the industry.

III. Spatial Aesthetics: Creating a "Third Space" for Young People

Peng Xin's positioning for Nayuki was never just a tea shop but a lifestyle experience brand. From store design to spatial atmosphere, Nayuki pioneered the "third space" concept in the new tea industry — providing a high-quality leisure space for relaxation, socializing, and enjoyment beyond home and work.

Nayuki stores typically adopt bright, transparent design styles, extensively using glass, metal, and greenery elements, creating spaces combining modernity with comfort. Some flagship stores include reading areas and social zones for different scenarios. This emphasis on spatial experience established Nayuki's distinctive differentiated image among tea brands.

Peng Xin expressed her hope that Nayuki could define young Chinese people's tea culture the way Starbucks defined coffee culture. This positioning determined Nayuki would not pursue low-cost franchising and rapid expansion, instead insisting on direct operations, focusing on individual store quality and brand tone. This choice means higher operating costs and slower expansion, but ensures brand consistency and consumer trust.

IV. The IPO Path: A New Chapter for the New Tea Industry

In June 2021, Nayuki officially listed on the Hong Kong Stock Exchange Main Board (stock code 02150.HK). This listing was milestone — not just one enterprise's capitalization breakthrough, but the formal recognition of China's new tea industry by capital markets.

The IPO brought Nayuki more substantial funding support, but also greater market scrutiny and operational pressure. Public markets require transparent financial disclosure, steady operational performance, and sustainable growth logic. In the years since, facing intensifying competition and changing consumption environments, Peng Xin led the team in continuously advancing operational efficiency optimization, digitalization, and supply chain upgrading.

In digitalization, Nayuki actively deployed mini-program ordering, membership systems, and private domain operations, boosting customer repurchase rates and operational efficiency. In supply chain, the company strengthened direct tea origin procurement and warehousing logistics, optimizing cost structures while ensuring quality. In store operations, digital management tools improved labor and space efficiency, driving continuous single-store model optimization.

V. The Female Entrepreneur's Vision: Making One Cup of Tea with Heart

Amid the new tea industry's turbulent competition, Peng Xin demonstrates the delicacy and resilience characteristic of female entrepreneurs. Her relentless pursuit of products, attentive focus on consumer experience, and strict brand tone control all bear her distinctive personal mark.

In team management, Peng Xin emphasizes creating an open, inclusive corporate culture, encouraging team members to contribute ideas on product innovation and user experience. She believes good brands are not shaped by one person but co-created by a group sharing common values.

Facing competition, Peng Xin maintains rare clarity. She has stated publicly multiple times that the new tea industry still has enormous growth space; the key is whether one can continuously create value for consumers. She doesn't engage in low-price involution or chase short-term traffic, instead insisting on letting quality and experience speak. This composure is especially precious in the white-hot new tea market.

From one cup of tea to a listed brand, Peng Xin spent nearly a decade completing the new tea industry's elevation from "small business" to "big brand." She proved that in a seemingly ordinary consumer track,wholeheartedly making good products, good experiences, and good brands can equally create commercially valuable influence of era significance.

In the grand narrative of China's new tea, Peng Xin and Nayuki represent a warm yet powerful chapter. It tells us: behind a good cup of tea lies a female entrepreneur's complete commitment to quality, aesthetics, and long-term value.

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