Александра Синицына (Ночной линейный редактор)
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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.
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After winning his first Nobel, Sanger turned his gaze to RNA, seeking to become the first person to sequence a full strand. He was beaten by Cornell biochemist Robert Holley, however, who reported the full 77-nucleotide sequence of the alanine transfer RNA molecule in 1965.3