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

    <schemaVersion>X0609</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2026-09-22</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002111614</rptOwnerCik>
            <rptOwnerName>Wang Yi</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>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Restricted Stock Units</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionDate>
                <value>2026-09-22</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>4363</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4363</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, the RSUs become fully vested on December 15, 2026. Each RSU represents a contingent right to receive one Class A ordinary share.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Yi Wang</signatureName>
        <signatureDate>2026-09-22</signatureDate>
    </ownerSignature>
</ownershipDocument>
