Core Viewpoint - After founder He Guangqi resumed leadership, Xiaobuxiaobux continued to face losses, with a reported revenue decline of 19.65% and a net loss of 4.01 billion yuan in 2024 [1][6]. Financial Performance - In 2024, the company's revenue reached 47.55 billion yuan, a year-on-year decrease of 19.65%, while the net loss expanded to 4.01 billion yuan [1][6]. - Over the four years of He Guangqi's leadership, the total losses amounted to 12.46 billion yuan [7]. - The company reported a total of 957 operating restaurants by the end of 2024, a decrease of approximately 13% year-on-year, with 141 net closures [1][11]. Historical Context - Xiaobuxiaobux experienced significant growth from 2015 to 2018, with revenue increasing from 2.425 billion yuan to 4.734 billion yuan and net profit rising from 263 million yuan to 462 million yuan [2]. - However, profitability began to decline in 2019, with net profit dropping to only 1.837 million yuan in 2020 [3]. Management Changes - In 2021, the core management team underwent changes, leading to He Guangqi taking over as CEO to initiate a transformation [3]. - He Guangqi announced plans to close 200 restaurants to mitigate losses and implement further actions to revive the brand [4]. Store Operations - In 2021, the company closed 229 stores, yet the revenue for that year was 6.147 billion yuan, a year-on-year increase of 12.7%, despite a net loss of 2.93 billion yuan due to rising costs [5]. - The company had initially planned to open 156 new stores in 2022 but only managed to open 2 additional stores, ending the year with 1,026 operating restaurants [9][10]. Membership Program - In May 2023, the company launched a "Super Membership All-You-Can-Eat Card," aiming to generate at least 600 million yuan in membership revenue by the end of the year [13]. - The card sold nearly 1 million units in its first six months, generating approximately 1.5 billion yuan in revenue [15][16]. - However, the card faced criticism from consumers, who claimed it was misleading and not as beneficial as advertised [18].
呷哺呷哺关店141间畅吃卡被指陷阱卡 贺光启重掌帅印4年持续亏损超12亿