Core Viewpoint - Green Tea Restaurant, despite being labeled as "sick" upon its IPO, is acutely aware of its challenges and has made significant efforts to innovate and expand its business model [13][58]. Group 1: Company Overview - Green Tea Restaurant has attempted to go public five times over four years, finally achieving its IPO, which is seen as a significant milestone for the brand [4][6]. - The restaurant chain plans to open 47, 89, and 120 new locations in 2022, 2023, and 2024 respectively, indicating an aggressive expansion strategy [8]. - The brand has faced intense competition and imitation, with many counterfeit versions of its restaurants emerging across China [15][16]. Group 2: Business Model and Strategy - Green Tea Restaurant has adopted a fast-fashion approach similar to brands like Zara, frequently updating its menu to attract younger consumers [27][30]. - The average revenue of Green Tea Restaurant exceeded 3.8 billion yuan in a year, ranking it third and fourth among Chinese casual dining brands [34]. - The restaurant has implemented a standardized food preparation process, relying heavily on pre-prepared ingredients to maintain efficiency and speed in service [41][44]. Group 3: Challenges and Criticism - The reliance on pre-prepared dishes has led to accusations of quality compromise, with customers expressing dissatisfaction over the lack of transparency regarding the use of pre-packaged ingredients [47][50]. - Customer traffic has significantly declined, with average daily visitors dropping from 809 in 2018 to 477 in 2024, indicating a potential loss of brand appeal [58]. - Despite the introduction of numerous new dishes, many of the top-selling items remain older menu staples, suggesting a struggle to innovate effectively [70]. Group 4: Market Position and Future Outlook - The restaurant faces increasing pressure from competitors who are lowering prices to attract budget-conscious consumers, challenging Green Tea's previous value proposition [66]. - The brand's attempts to create unique dining experiences, such as themed dining environments, have not yet translated into sustained customer loyalty [61][64]. - The future of Green Tea Restaurant's business model remains uncertain, as the balance between industrialized food preparation and maintaining authentic dining experiences is critical for long-term success [69][72].