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.
Путин поговорил с президентом Ирана. Тегеран ожидает поддержки России на фоне атак США и Израиля05:35
2023 年 8 月，Qwen 首次开源，这一点在Line官方版本下载中也有详细论述
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The CPU is 64-bit ARM64. Registers, addresses, and data paths are all 64-bit.
Noboa has been working closely with the Trump administration to curb the flow of drugs from his country into the US.。关于这个话题，PDF资料提供了深入分析