The company’s gross margin has consistently been below the industry average, dropping to 23% in 2024 and then recovering to 24.7% in the first three quarters of 2025—still far below the 28%–32% level of leading players. Raw material costs accounted for as much as 87.5%, and rapid expense growth further squeezed profit margins. Overall, the company’s scale advantage stands out, but its earnings are not sufficiently stable. Growth remains primarily driven by store count, and operating efficiency urgently needs improvement.
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The main text of the journal’s author guidelines now states: “Each highlight is a teaching tool that presents a short clinical vignette describing a fictional case related to a CPSP study or survey.” An archived version from September stated, “Each highlight is a teaching tool that presents a short clinical example, from one of the studies or one-time surveys,” with no mention of fiction.