据海底捞相关负责人介绍，这也是继12月上旬海底捞大排档火锅广州首店开业后，海底捞在该模式上的 又一次布局。广州首店凭借新鲜优质的食材与"生鲜市集"式的自由体验，自试运营起便热度攀升。 其他餐饮企业也在竞逐"鲜切"赛道。以成都的"谭三娘鲜切牛肉自助火锅"为例，该品牌将"鲜切牛 肉"与"自助"模式结合，凭借清晰的性价比定位迅速打开市场。红餐大数据显示，该品牌成立仅一年 多，已拓展超过130家门店。 不少品牌选择在供应链深度与成本控制上建立壁垒。如，歪胖子山野鲜货火锅与云贵川30余个种植基地 建立直采合作，通过"24小时冷链直达+中央厨房预处理"模式，将野菜等食材的损耗率从传统模式的 25%大幅压缩至8%。这体现了行业从源头把控"鲜度"和成本的供应链深耕趋势。 新华财经北京12月26日电（记者丁雅雯）当前，一场以"鲜切"和"现制"为核心的浪潮，正席卷餐饮业。 行业围绕"食材新鲜度"与"用餐体验感"展开新一轮价值竞争。 12月27日，海底捞大排档火锅上海首店开始试营业。门店通过更加开放、灵活的场景呈现，探索介 于"围炉而坐"与"边逛边吃"之间的全新用餐形态。动线围绕海鲜区、鲜切区、铁板区与水果饮品区 等"风味岛屿"自 ...

Core Insights - The "Xibei pre-made dish" controversy has created significant public pressure on Xibei and other restaurant businesses, but it also presents opportunities for transformation in the industry [1][2] - Many restaurant companies are shifting towards "made-to-order" and "transparent kitchen" models to regain consumer trust and improve their image [3][4] Industry Trends - Despite reluctance to adopt the "pre-made dish" label, many chain restaurants may find it necessary due to operational demands for standardized and efficient service [2][8] - Rising operational costs, including labor and rent, are pushing restaurants to consider pre-made dishes as a cost-saving measure [2][8] - A significant portion of the restaurant market is already utilizing central kitchens and pre-made processing, which simplifies the cooking process and reduces costs [2][8] Consumer Sentiment - Approximately 50% of surveyed consumers reject pre-made dishes, with over 60% opposing their presence in restaurants, indicating a strong consumer preference for freshly prepared meals [2][3] - Consumers associate pre-made dishes with a lack of freshness and quality, leading to a negative perception of restaurants that do not transparently disclose their food preparation methods [3][8] Response from Restaurants - In response to the controversy, many restaurants are emphasizing "made-to-order" and showcasing their cooking processes to enhance transparency and consumer trust [3][4] - Some smaller restaurant brands are prominently advertising their lack of pre-made dishes to attract customers, while larger chains like Xibei are also making significant branding changes to align with consumer expectations [6][7] Balancing Pre-made and Fresh - There is a notable disconnect between consumer perceptions of pre-made dishes and the actual standards of pre-made food in the industry, which can lead to misunderstandings [8][9] - Transparency in food preparation can help bridge the gap between consumer expectations and restaurant practices, allowing for a potential coexistence of pre-made and freshly prepared dishes [8][9]

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The report highlights a significant increase in domestic and international travel bookings ahead of the National Day holiday, with domestic flight bookings up approximately 25% year-on-year [15] - The second-hand toy market is experiencing rapid growth, with transaction volumes on platforms like Xianyu increasing over 300% year-on-year in Q2 2025 [25] - The report emphasizes the shift towards fresh and healthy dining options in the Chinese restaurant sector, particularly in response to controversies surrounding pre-prepared meals [31] - The education sector is seeing favorable policy changes, with many companies in the higher education space showing strong profit growth and high dividend yields [35] Summary by Sections Travel and Tourism - The report notes a surge in travel bookings for the upcoming holiday, with a 25% increase in domestic flight bookings and a 15% increase in international bookings [15][16] - The revival of direct flights between China and Cambodia has led to a 48% increase in Chinese tourists visiting Cambodia in the first seven months of 2025 [16] Toy Market - The second-hand toy market is rapidly expanding, with Xianyu reporting over 300% growth in order volume and GMV in Q2 2025 [25][26] - New domestic IPs are gaining popularity, with significant rankings improvements for local designs compared to international counterparts [28] Restaurant Industry - The pre-prepared meal sector is facing scrutiny, leading to a decline in growth rates, while the market for cooking robots is expected to grow significantly, reaching over 110 billion yuan by 2030 [31][32] - The report identifies "Xiaocaiyuan," a fresh-cooked Chinese restaurant chain, as a key beneficiary of the trend towards healthier dining options [34] Education Sector - The higher education sector is benefiting from favorable policies, with many companies reporting substantial profit increases and attractive dividend yields [35][39] - The report highlights that several education companies have seen their net profits rebound significantly in FY2025H1 [37] Local Life Services - The report discusses the growth of instant retail services, with Taobao's daily active users reaching 419 million, a 16% increase from the beginning of the year [41] - Alibaba's Gaode Map has launched a new ranking system to enhance offline consumer engagement, aiming to drive foot traffic to local businesses [45][46]