要上市的COMMUNE幻师，如何保持新鲜感？

Core Viewpoint - COMMUNE, a chain brand in the "micro-drunk" sector, has submitted its prospectus for an IPO in Hong Kong, indicating a strong growth trajectory and market positioning in the casual dining and bar industry [1][4]. Group 1: Company Growth and Financials - COMMUNE's revenue is projected to grow from 845 million yuan in 2023 to 1.074 billion yuan in 2024, representing a year-on-year increase of 27.1% [1]. - For the first three quarters of 2025, revenue is expected to reach 872 million yuan, reflecting a year-on-year growth of 14.2% [1]. - The number of COMMUNE's stores is set to increase from 94 at the end of 2023 to 110 by the end of 2024, with a total of 112 stores across 40 cities by September 2025 [1]. Group 2: Market Position and Competitive Landscape - COMMUNE ranks among the top players in the micro-drunk sector, with a store count that surpasses competitors like Road Shop and Jump Sea, which have only single-digit store numbers [4]. - The brand's unique offering includes a combination of dining and drinking experiences, with a balanced focus on food and beverages, catering to diverse consumer needs [4][5]. Group 3: Supply Chain and Profitability - COMMUNE has established a standardized supply chain, partnering with leading suppliers to reduce costs and improve margins, achieving a gross margin of 70.5% in 2023 [8]. - The company has launched 14 proprietary beverage SKUs, contributing over 20% to its total alcohol sales, which enhances its profitability compared to industry averages [8]. Group 4: Expansion Plans and Challenges - COMMUNE plans to open 30-40 new stores in 2024, focusing on first and second-tier cities, with a long-term goal of adding 105-135 stores by 2028 [9]. - The company faces challenges in adapting to varying consumer habits in different cities, particularly in lower-tier markets where demand for upscale dining experiences may be limited [10].