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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Hundreds of people have been made redundant and dozens of bars have closed after craft beer firm Brewdog went into administration.
从品牌阵营来看，一方面，欧莱雅、清扬、海洋至尊、左颜右色等专业品牌，凭借品牌声量与渠道基础稳居榜单；另一方面，育草堂、米菲娜、俏能、巧巧等品牌，借助抖音渠道快速崛起，包揽榜单前四。
▲提示词仅需修改前面部分：location: Hong Kong, specific_view: Vitoria Harbour, Weather: Sunny, aspect_ratio: 21:9.