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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“那是2019年的一天，我从事Safari向导工作的哥哥，带着客人在林间徒步，附近有一些能近距离观看野生动物的营地。可能是为了吸引象群注意吧，其中一个营地的熊孩子们开始敲锣打鼓、大喊大叫。一头受了惊吓的大象，突然急速奔跑起来，撞倒了哥哥，而且象牙直接插进了他的身体。等救护车带着担架赶来，把他送往医院，却已经迟了。办完后事，嫂子带着孩子回德国了，每年圣诞假期还会过来。”
其余大多出自Figma、GitHub等明星公司。
Любовь Ширижик (Старший редактор отдела «Силовые структуры»)