Core Insights - The rapid expansion of Nova Coffee is primarily driven by its "parasitic model," which allows the brand to embed its coffee business within existing commercial entities, significantly reducing costs and leveraging established customer traffic [4][19] - As of November 3, 2025, Nova Coffee has opened 7,235 parasitic stores, accounting for 91.9% of its total stores, with a strong focus on convenience stores [5][6] - The brand's partnership with Meiyijia convenience stores is crucial, with 3,635 stores featuring Nova Coffee, representing 46.2% of its total outlets [8][12] Store Distribution - New first-tier cities have become a key focus for store distribution, with 2,246 stores, making up 28.5% of the total [1] - Lower-tier cities (fourth-tier and below) have seen significant penetration, with 1,423 stores, representing 18.1% of the total [1] Parasitic Model Advantages - The parasitic model offers three main advantages: low cost and asset-light operations, shared customer traffic, and rapid market testing capabilities [4] - Nova Coffee has successfully utilized this model to achieve remarkable growth, opening an average of 56 stores per day over the past three months [4] Convenience Store Dominance - Convenience stores are the primary venue for Nova Coffee's parasitic model, with 7,164 stores located within various convenience store chains, making up 99.0% of its parasitic outlets [6] - The alignment of convenience store locations with coffee consumer demographics enhances customer access and increases sales potential [8] Operating Hours - Over 70% of Nova Coffee's stores operate 24 hours, with 5,561 stores open around the clock, providing a competitive edge in the market [12][15] - The 24-hour operation aligns well with the convenience store model, allowing Nova Coffee to meet consumer demand across all times of the day [18] Online Expansion - Nova Coffee is also expanding its online presence, with 7,425 stores offering delivery services through mini-programs, achieving a 94.2% activation rate [18]