<SEC-DOCUMENT>0000950103-26-004274.txt : 20260318
<SEC-HEADER>0000950103-26-004274.hdr.sgml : 20260318
<ACCEPTANCE-DATETIME>20260318164404
ACCESSION NUMBER:		0000950103-26-004274
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20260318
FILED AS OF DATE:		20260318
DATE AS OF CHANGE:		20260318

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Xu Chi
		CENTRAL INDEX KEY:			0002100812
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-42598
		FILM NUMBER:		26769936

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		20 TOWER B, HONGQIAO LIANHE BUILDING,
		STREET 2:		NO. 99 KAIHONG ROAD, CHANGNING DISTRICT
		CITY:			SHANGHAI
		PROVINCE COUNTRY:   	F4
		ZIP:			200051

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Chagee Holdings Ltd.
		CENTRAL INDEX KEY:			0002013649
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING & DRINKING PLACES [5810]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				000000000
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		15/F, IFS BUILDING 2, HONGXING ROAD,
		STREET 2:		JINJIANG DISTRICT, CHENGDU,
		CITY:			SICHUAN
		STATE:			F4
		ZIP:			610000
		BUSINESS PHONE:		86 028 6900 7666

	MAIL ADDRESS:	
		STREET 1:		15/F, IFS BUILDING 2, HONGXING ROAD,
		STREET 2:		JINJIANG DISTRICT, CHENGDU,
		CITY:			SICHUAN
		STATE:			F4
		ZIP:			610000
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>ownership.xml
<DESCRIPTION>FORM 3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0607</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2026-03-18</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0002013649</issuerCik>
        <issuerName>Chagee Holdings Ltd.</issuerName>
        <issuerTradingSymbol>CHA</issuerTradingSymbol>
        <issuerForeignTradingSymbol></issuerForeignTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002100812</rptOwnerCik>
            <rptOwnerName>Xu Chi</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerNonUSAddressFlag>true</rptOwnerNonUSAddressFlag>
            <rptOwnerStreet1>TOWER B, HONGQIAO LIANHE BUILDING</rptOwnerStreet1>
            <rptOwnerStreet2>NO. 99 KAIHONG ROAD, CHANGNING DISTRICT</rptOwnerStreet2>
            <rptOwnerCity>SHANGHAI</rptOwnerCity>
            <rptOwnerNonUSStateTerritory>SHANGHAI</rptOwnerNonUSStateTerritory>
            <rptOwnerCountry>F4</rptOwnerCountry>
            <rptOwnerZipCode>200051</rptOwnerZipCode>
            <rptOwnerStateDescription>CHINA</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Vice President</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>American Depositary Shares</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>48264</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Options (Right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>3.7614</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2034-05-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Ordinary Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>67322</value>
                    <footnoteId id="F2"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Each American Depositary Share (&quot;ADS&quot;) represents one Class A Ordinary Share.</footnote>
        <footnote id="F2">Represents an option to purchase 67,322 Class A Ordinary Shares, with 22,441 Class A Ordinary Shares subject to the option vesting on March 1, 2026, 22,440 Class A Ordinary Shares subject to the option vesting on March 1, 2027, and 22,441 Class A Ordinary Shares subject to the option vesting on March 1, 2028.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Chi Xu</signatureName>
        <signatureDate>2026-03-18</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
