张亮退出张亮麻辣烫直接股东，一年卖出超2亿碗，门店增速大幅放缓

Core Viewpoint - The recent shareholder change in Zhang Liang Spicy Hot Pot has led to the founder Zhang Liang stepping down from direct shareholding, although he still maintains indirect control over the group through his wholly-owned company, Shanghai Yiyan Jiuding Enterprise Management Co., Ltd [2][4]. Company Structure - Zhang Liang Spicy Hot Pot's shareholder structure has changed, with Shanghai Yihang Business Development Co., Ltd. (holding 90%) and Zhang Liang (holding 10%) exiting, while Shanghai Yiyan Jiuding Enterprise Management Co., Ltd. has been added as a wholly-owned shareholder [4]. - Zhang Liang remains the ultimate controller of the group through his wholly-owned company, ensuring continued influence over operations [4]. Business Strategy - Analysts suggest that the shareholding change may be aimed at preparing for expansion into more business areas beyond spicy hot pot [3]. - The indirect shareholding structure allows for risk isolation, reducing personal exposure to company operational risks, and enhancing decision-making efficiency and flexibility [6]. Market Performance - Zhang Liang Spicy Hot Pot has sold over 200 million bowls in a year, with an average consumer spending of 26.42 yuan [7]. - The brand has over 6,000 global chain stores and 30 subsidiaries, covering 303 cities across 33 provinces and regions in China [8]. - The expansion rate of new stores has slowed down, with annual openings decreasing from 1,482 in 2021 to only 302 in 2025 [9]. Industry Outlook - The market size for the spicy hot pot sector is projected to grow from 1,488 billion yuan in 2024 to 1,565 billion yuan in 2025, reflecting a year-on-year growth of 5.3% [9].