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At the same time, the company’s weaknesses and growth pain points are equally prominent—and have become the central tests on its path to an IPO. First, control gaps in the franchising model are glaring. With franchised stores accounting for more than 95% of the network, quality control is extremely difficult. In 2024, the “worm incident” at a Beijing franchise store triggered a crisis of trust in the brand; related complaints on the Black Cat platform exceeded 380. Revenue at some outlets plunged by 30%. Meanwhile, in 2025 the ratio of newly opened to closed franchise stores deteriorated from 15:1 to 3:1. Franchisees’ payback periods averaged 13–20 months—and could be longer in top-tier cities due to intense competition. Waning franchisee enthusiasm directly undermines the stability of the company’s core source of revenue.
Ранее стало известно, что большинству россиян не хватает накоплений на первоначальный взнос по ипотеке.，详情可参考Line官方版本下载
Великобритания собралась защитить свою военную базу от Ирана14:46，详情可参考Line官方版本下载
По состоянию на 2 марта доллар в России стоил 77,2736 рубля. Что касается валюты Европейского союза и Китая, то их курсы были 91,2965 и 11,2394 рубля соответственно.。safew官方版本下载是该领域的重要参考
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