轻装上阵的“举高高”，为海底捞探出一条新路

Core Insights - Haidilao is successfully replicating its next "Haidilao" with the launch of "Jugaogao Self-Service Hotpot," which has quickly become a phenomenon in the market [4][5][29] - The new brand has expanded to over 50 locations across 9 provinces in less than six months, demonstrating strong market demand and operational efficiency [4][33] - The acquisition of Jugaogao marks a significant step in Haidilao's diversification strategy and internal entrepreneurship transformation [4][5] Brand Development - Jugaogao's positioning at approximately 60 yuan per person for self-service hotpot caters to a price-sensitive market, allowing Haidilao to tap into a new customer base [4][5][39] - The brand's rapid growth is attributed to its innovative approach and the integration of a mature team, which enhances Haidilao's multi-brand operational capabilities [5][29] Market Dynamics - The self-service hotpot segment is experiencing a surge in popularity, with Jugaogao capitalizing on this trend by offering high-quality ingredients and a unique dining experience [15][18] - The overall market for small hotpot restaurants has seen significant growth, with over 56,000 locations nationwide and a market size nearing 100 billion yuan, reflecting a 30% year-on-year increase [36][39] Competitive Advantage - Jugaogao's business model combines competitive pricing with superior service, creating a unique market position that avoids the pitfalls of low-end price wars [23][39] - The brand's ability to rapidly iterate and innovate its offerings, such as seasonal products and enhanced customer experiences, establishes a deep competitive moat [28][40] Strategic Implications - Jugaogao represents Haidilao's second growth curve, providing a scalable and replicable business model that can drive future revenue growth [29][31] - The success of Jugaogao in Xi'an highlights the city's potential as a key market for restaurant expansion, reinforcing Haidilao's strategic positioning in the industry [10][40]