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.
Американские сенаторы захотели принудить Трампа прекратить удары по Ирану14:51
，这一点在体育直播中也有详细论述
根据链接中的内容，分析 Boris 的 9 条技巧，生成 Claude Code 最佳实践的 PPT（PPTX)，使用白色背景。
Captain hails team ‘unity’ before Mumbai semi-final