Core Viewpoint - The recent adjustments in the "BreadTalk" franchise stores in Chengdu are attributed to the expiration of franchise authorization, which is considered a normal business transition [1][3] Group 1: Company Operations - Shenzhen Xinyu Catering Management Co., Ltd. confirmed that the operational entities of "BreadTalk" in the Guangzhou and Shenzhen regions are legally and operationally independent from those in Chengdu [3] - The "BreadTalk" brand has maintained a healthy and stable development since entering the South China market in 2005, with over 80 stores in the Guangzhou and Shenzhen regions operating normally [3] - Recent store renovations have been completed for three locations: Guangzhou Sun City Store, Shenzhen Baoan Daqianli Store, and Shenzhen Xinsha Tianhong Store, with eight new stores expected to open in the second half of the year [3] Group 2: Market Presence - "BreadTalk" was established in Singapore in 2000 and quickly gained market recognition with its transparent display windows, visible kitchens, and creative pastries [3] - The brand entered the Chinese market in 2003, opening stores in cities such as Guangzhou, Shenzhen, Nanjing, and Suzhou [3] - The franchise authorization operates on a city-level basis, requiring all stores within a city to be independently invested and operated by the franchisee [3]