Core Viewpoint - Guoquan Food (Shanghai) Co., Ltd. has regained confidence, reporting significant growth in revenue and profit for the first half of 2023, with a focus on solidifying its existing market base and preparing for future expansion [2][4]. Financial Performance - In the first half of 2023, Guoquan achieved revenue of 3.24 billion RMB, a year-on-year increase of 21.6%; gross profit was 717 million RMB, up 17.8%, with a gross margin of 22.1%; net profit reached 190 million RMB, a substantial increase of 122.5% [2][4]. - Core operating profit also stood at 190 million RMB, reflecting a growth of 52.3% year-on-year [2]. Strategic Focus - The company has adopted a strategy of "rooting down and growing up," focusing on consolidating its existing stores, enhancing membership, and improving online operations [4]. - Guoquan plans to accelerate the opening of new stores, targeting various market scenarios, including community kitchens and new town models [7]. Product Development - The company has developed a barbecue product matrix over the past four years, which has helped mitigate seasonal performance fluctuations [6]. - Guoquan aims to continue leveraging its strengths in hot pot offerings while expanding its product range to include more barbecue options [6]. Membership Growth - As of June 30, 2025, Guoquan reported 50.3 million registered members, a year-on-year increase of 62.8%, with a prepaid card balance of 590 million RMB, up 37.2% [9][10]. - The membership system is seen as a key driver for future growth, with plans to increase membership to 60 million by the end of the year [10]. International Expansion - Guoquan is exploring international markets, particularly in Southeast Asia and Europe, with various potential models for expansion, including establishing supply chains and creating new brands [11]. - The company is currently in the exploratory phase for international expansion while maintaining a primary focus on domestic market growth [11].