HEYTEA suspends franchise applications, criticizing the market's blind pursuit of scale and price wars, rejecting "low-price competition."

HEYTEA announced the suspension of franchise applications, citing a price war in the tea beverage market and emphasizing its refusal to participate in low-price competition. The company pointed out that blind expansion and homogeneous competition have harmed user experience and the industry's foundation. HEYTEA will adopt a differentiated strategy, halt meaningless store expansion, and focus on product innovation. As of September last year, HEYTEA had over 4,300 stores worldwide, with operations covering multiple countries and regions