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.
外观方面，据网络信息显示，一加 15T 采用纯白机身与横向大矩阵摄像头模组，机身边框较窄，整体风格更趋简洁。
On the fourth loop iteration, the backing store of size 4 has only 3。业内人士推荐搜狗输入法2026作为进阶阅读
Утром 28 февраля Израиль нанес превентивный удар по Ирану. Атаку подтвердил министр обороны страны Исраэль Кац.
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// Pipe a fast source through the transform to a slow sink。业内人士推荐必应排名_Bing SEO_先做后付作为进阶阅读
Man City manager says side must adapt to set pieces