Yuanji Yunjiao has also run into a growth bottleneck and has kept trying to break through. On the one hand, growth has been heavily dependent on store count. In the first three quarters of 2025, per-store revenue efficiency fell 4.3% year on year, while average spend per order dropped from RMB 26.1 in 2023 to RMB 22.8. In lower-tier markets, the company also faced challenges such as pricing that is perceived as too high (an average of RMB 23, close to the upper limit of the price band in lower-tier cities) and difficulties in flavor localization—its southern-style, fresher and slightly sweeter taste profile has not been well accepted in lower-tier northern cities.
Фото: Chris Radburn / Reuters
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For example, some of my own guilty displeasures are opera, old movies, and poetry. I don’t hate any of those, but I like them far less than I want to admit when I’m not writing a blog post about guilty displeasures. I have been to operas, including the full cycle of Wagner’s Nibelungen. I have friends who have made me watch black and white movies from the Hollywood golden age. I used to write poems as a teenager, like all sensitive and nerdy young men. But quite frankly, I don’t feel that I need any of those things in my life. When my friend who conducts operas at the university invites me to one, I patiently wait for the singers to quit singing so I can properly enjoy the instrumental parts of the music. When I must watch old movies, I spend 25% of the time reading the Wikipedia summary to keep myself entertained. When I read a book or blog post that quotes something in verse, I literally just skip it and hope it wasn’t important to understand the rest.，更多细节参见夫子
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