Core Viewpoint - The article discusses how several major restaurant chains, including Xiaobai Xiaobai, are exploring new business avenues to improve their core brand performance and overcome growth bottlenecks amid ongoing financial pressures [1][6]. Company Summary - Xiaobai Xiaobai, known as the "first stock of chain hot pot," has launched a new brand "Xiaoniupai" in Beijing, marking its entry into the steak market [2][3]. - The new brand focuses on "handmade Taiwanese-style thick steak," emphasizing quality and affordability to attract a broad consumer base [3]. - Xiaobai Xiaobai has faced significant financial challenges, recording losses for four consecutive years since 2021, with a total loss exceeding 1.3 billion yuan [6]. - The main brand's sales dropped by 13.5% to 1.135 billion yuan in the first half of this year, with same-store sales declining by 15.6% [6]. - The mid-to-high-end sub-brand "Coucou" has also struggled, with a 25.8% decrease in sales to 745 million yuan and a reduction in store count from 245 to 174 [6]. Industry Trends - The cross-industry move by Xiaobai Xiaobai reflects a broader trend in the restaurant industry, where companies are seeking growth through diversification amid consumer downgrading and intensified competition [9]. - Other major players, such as Haidilao and KFC, are also expanding into new categories and brands to find new growth opportunities [9][11]. - Analysts suggest that many companies are implementing a "five-multiple strategy" to create multiple consumer benefits through diversified brand operations and product offerings [13].