Core Insights - Tasiting has opened 968 new stores in the past 90 days but has also closed 907 stores, resulting in approximately 10,296 operational stores as of December 2 [3] - Founded in 2012 by three individuals in their 30s, Tasiting initially focused on Western fast food, particularly "burgers + pizza," before pivoting to a differentiated product positioning of "Chinese burgers" in 2019 [3] - The company aims to expand its presence significantly, with plans to open over 2,300 new stores annually from 2022 to 2025, targeting first-tier cities and aiming to become a "10,000-store brand" by the second half of 2025 [6] Product Offering - Tasiting specializes in "handmade and freshly baked" products, offering a variety of Chinese-style burgers such as spicy chicken leg burgers and Beijing roast duck burgers, along with snacks, roasted chicken, and beverages [4] - The average transaction value is around 19 yuan, which is lower than that of Western fast food chains like KFC and McDonald's [4] Company Background and Valuation - Tasiting Restaurant Management Co., Ltd. was established in December 2017, with a registered capital of approximately 120 million yuan, focusing on restaurant management and consulting services [6] - The company is currently valued at 7 billion yuan, with significant funding rounds including a 120 million yuan Series A in November 2021 and a recent investment from Sequoia China in November 2023, although specific amounts were not disclosed [6]