核心观点24Q4 公司酒店加盟业务收入11.06 亿元/+29.98%,开店快速同供应链收入增长显著;零售业务收入7.65 亿元,同比高增+85.62%,全年零售业务收入占比已超过30%。2024 年公司累计开店471家,超过指引的450 家,关店62 家,公司对低质门店进行清理,2025 年公司指引开店至500 家,今年预计将完成2000 好店目标。2025Q1 行业整体经营存在天气、节日错期、...
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