Core Viewpoint - The major players in the marinated food industry, such as Juewei Foods and Zhou Hei Ya, are undergoing transformations to adapt to a slowing market and increasing competition, shifting towards new dining experiences and product offerings [5][10][16]. Group 1: Industry Changes - Juewei Foods has launched "Juewei Plus," a new style of casual dining that offers snacks and beverages, moving away from traditional marinated food stalls [4][10]. - Zhou Hei Ya has introduced a sub-brand "3 Jin Ban · Small Pot Fresh Marinated," focusing on fresh marinated dishes combined with staple foods, enhancing the dining experience [11][13]. - The marinated food market is projected to reach a scale of 157.3 billion yuan in 2024, with a year-on-year growth rate of 3.7%, down from 4.8% in 2023, indicating a slowdown in industry growth [17][20]. Group 2: New Business Models - Major brands are expanding their product offerings to include main meals, afternoon tea, and late-night snacks, moving from a single consumption scenario to a more diverse range [21][22]. - Juewei Foods' "Juewei Plus" focuses on social dining and late-night snacks, integrating various products like fried marinated items and beverages to extend consumption hours [25]. - Zhou Hei Ya's "3 Jin Ban" emphasizes an open kitchen experience, allowing customers to see the cooking process, and offers a variety of marinated products alongside staple foods [13][22]. Group 3: Strategic Initiatives - Companies are diversifying their product lines by selling seasonings and beverages, with Zhou Hei Ya entering the compound seasoning market and Juewei Foods testing milk tea offerings [26]. - Some brands are exploring international markets, with Zhou Hei Ya entering Malaysia and Ziyan Baiwei Chicken expanding into Australia and the U.S., indicating a strategy to seek growth outside domestic markets [27]. - The transformations in the marinated food sector reflect a necessary adaptation to market maturity, where companies must innovate to survive in a competitive landscape [28].

Core Viewpoint - The major players in the marinated food industry, including Juewei Foods and Zhou Hei Ya, are undergoing significant transformations by launching new store formats and product offerings to adapt to a slowing market growth and increasing competition [12][14]. Group 1: Industry Trends - The marinated food market is projected to reach a scale of 157.3 billion yuan in 2024, with a year-on-year growth rate of 3.7%, down from 4.8% in 2023 [12]. - Major brands are shifting from traditional snack offerings to more diverse dining experiences, including light meals and late-night snacks, to expand consumption scenarios [14][15]. Group 2: Company Innovations - Juewei Foods has launched "Juewei Plus," a new casual dining format that offers a variety of snacks and beverages, moving away from the traditional marinated food stall style [9][11]. - Zhou Hei Ya introduced a sub-brand "3 Jin Ban · Small Pot Fresh Marinated," focusing on fresh marinated dishes combined with staple foods, enhancing the dining experience [7][12]. - The new store formats emphasize customer experience, with open kitchens and a wider range of products, including various marinated meats and side dishes [7][11]. Group 3: Product Diversification - Juewei Plus features nearly 30 SKUs, including fried snacks, desserts, and alcoholic beverages, with prices ranging from 8 to 28 yuan [11]. - Zhou Hei Ya's "3 Jin Ban" offers a mix of traditional marinated products and new items like spiced duck and various staple foods, with pricing strategies that include per-item pricing [7][9]. Group 4: Strategic Moves - Companies are exploring new revenue streams by selling condiments and beverages, with Zhou Hei Ya collaborating with seasoning companies and Juewei Foods testing milk tea offerings [19]. - Some brands are also looking to international markets for growth, with Zhou Hei Ya entering Malaysia and Ziyan Baiwei Chicken expanding into Australia and the U.S. [20].