<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0609</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2026-08-18</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <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>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Restricted Stock Units</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionDate>
                <value>2026-08-18</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>21089</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>21089</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Represents restricted stock units (&quot;RSUs&quot;) granted pursuant to the Chagee Holdings Limited Public Company Share Incentive Plan (the &quot;Plan&quot;). Subject to the terms of the Plan and the reporting person's continuous service through each vesting date, the RSUs vest in two equal installments on the first and second anniversaries of June 15, 2026, with 10,544 RSUs vest on June 15, 2027 and 10,545 RSUs vest on June 15, 2028. Each RSU represents a contingent right to receive one Class A ordinary share.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Chi Xu</signatureName>
        <signatureDate>2026-08-19</signatureDate>
    </ownerSignature>
</ownershipDocument>
