Naixue Tea: Net addition of 23 Naixue Tea directly operated stores in the first quarter
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In the first quarter, Nayuki Tea added a net of 23 directly operated stores, while closing 28 stores. As of March 31st, the company operated a total of 1597 directly operated stores and 205 franchise stores. Despite being in the off-season and with demand not fully recovered, the Nayuki Eight Fragrances series still performed well. The company expects that this base effect will last at least until April 2024. At the same time, the company has optimized its requirements for franchisees, reducing investment amounts to promote the continuous growth of franchise business
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