曾10分钟售500万桶，昔日网红“自嗨锅”被申请破产审查

Core Viewpoint - The self-heating hot pot brand "Zihai Guo," established in 2018, is facing bankruptcy proceedings due to financial difficulties, with its associated company, Hangzhou Jinlingyang Enterprise Management Consulting Co., Ltd., recently filing for bankruptcy review [2][6]. Company Overview - "Zihai Guo" was founded by Cai Hongliang, the creator of the snack brand "Baicaowei," and quickly became a leading brand in the self-heating hot pot industry, leveraging the "one-person meal" and "lazy economy" concepts [5][6]. - The brand's product line includes various self-heating hot pots, such as spicy beef hot pot and self-heating soup pots, utilizing freeze-drying technology to preserve the original form and flavor of the ingredients [5]. Financial History - From 2018 to 2021, Hangzhou Jinlingyang completed five rounds of financing, raising over 550 million yuan, with notable investors including China International Capital Corporation, Matrix Partners, CMC Capital, and Gao Rong Capital, leading to a peak valuation of 7.5 billion yuan [6]. - In 2020, during the pandemic, "Zihai Guo" experienced explosive sales, achieving a record of selling 5 million units in just 10 minutes and over 100 million yuan in sales within 21 minutes during the Double Eleven shopping festival [6]. Recent Developments - Since 2022, demand for "Zihai Guo" has declined significantly, leading to a decrease in brand visibility and financial struggles, including lawsuits and forced executions due to cash flow issues [6][7]. - In March 2023, a potential acquisition by the listed company "Lianhua Health" was proposed but fell through five months later [6].