Core Viewpoint - The public dispute between Xibei's founder Jia Guolong and entrepreneur Luo Yonghao has escalated, leading to significant reputational damage and financial impact on Xibei [2][3]. Company Summary - Xibei Restaurant Group, founded in 1988, operates over 370 stores across 62 cities in China, employing approximately 18,000 staff [2]. - In 2023, Xibei served over 37.66 million customers and achieved a revenue exceeding 6.2 billion yuan, marking a historical peak [2]. - Following the public controversy, Xibei's daily revenue reportedly dropped by 1 million yuan on September 10 and 11, with estimates of a decline between 2 million to 3 million yuan on September 12 [2]. Industry Summary - The overall restaurant market is experiencing a downturn in 2024, with many chain brands facing performance pressures [3]. - The recent pre-prepared food controversy may undermine Xibei's brand image, which is positioned as high-quality and mid-to-high-end [3]. - The incident has raised concerns about Xibei's IPO plans, with potential regulatory risks, brand trust issues, and increased competition from rival brands [4].