Core Viewpoint - The ongoing conflict between the former operator of Ma Liu Ji, Meng He, and Zhang Lan, along with the legal ruling, has limited impact on the company's overall development, which remains positive despite challenges in online sales channels [3][4]. Group 1: Legal and Financial Developments - Meng He has stated he will pay a total of 15,000 yuan in compensation as per the court ruling but will not issue an apology [3]. - The Beijing Arbitration Commission ruled that Ma Liu Ji's operating entity must pay Meng He and his company a total of approximately 10.13 million yuan in commissions and over 600,000 yuan in penalties, resulting in a net payout of over 7.6 million yuan after other expenses [3][4]. Group 2: Company Performance and Market Position - Ma Liu Ji is experiencing steady growth in both franchise and direct stores, with increasing revenue and high repurchase rates [3]. - The brand is actively pursuing globalization, with products being exported to multiple countries [3]. Group 3: Challenges and Risks - Online sales channels are under significant pressure, with a notable decline in sales year-on-year, particularly due to quality control issues in the OEM model and a weakening effect from celebrity endorsements [4]. - There is a risk of losing confidence among franchisees and consumer trust if the company fails to restructure its e-commerce supply chain and live-streaming matrix [5].