The market is starting to understand something important: there’s a fundamental difference between AI that can automate workflows and AI that can handle authoritative legal work.
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.
，这一点在safew官方下载中也有详细论述
In fact, we could encode in which copy of Bobs world Snoopy is, by counting how many times the leash is wrapped around the hole.
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你能分辨出哪张是来自 Nano Banana 2 吗。