每经记者｜李卓 每经编辑｜何小桃 黄博文 米其林小笼包真的不香了？ 10月10日，知名餐饮品牌鼎泰丰发布公告称，因品牌运营调整，鼎泰丰微信商城将于2025年11月30日停止营业。顾客务必在11月30日前按照积分规则完成 积分兑换，逾期未兑换的积分将自动失效。 《每日经济新闻》记者在鼎泰丰微信商城检索后发现，除一款芝麻煎饼外，"招牌酥类""丰味煎饼"等产品目前均显示"已售罄"。 此外，鼎泰丰微信商城还提供企业团购服务。然而，鼎泰丰客服人员告诉每经记者，相关服务也会一并终止。客服人员还称，本次调整不影响鼎泰丰线下 门店运营，顾客可以前往门店进行相关消费。 鼎泰丰1958年于中国台湾创立，以小笼包等中餐产品闻名，曾被评为米其林星级餐厅，2001年在上海开设首家门店，正式进军大陆市场。目前，该品牌已 在日本、美国、韩国等国家及地区开设160余家分店。 不过，近年来，鼎泰丰在大陆多家门店却陆续关闭。品牌官网显示，截至目前，鼎泰丰在上海、广州、深圳和杭州等地还有门店，数目已降至14家。 意外的是，《每日经济新闻》记者注意到，10月1日，鼎泰丰微信服务号发布消息称，鼎泰丰北京嘉里中心店将于2026年3月开放，宣告重新回归北 ...

Core Viewpoint - The well-known restaurant brand Din Tai Fung is undergoing significant operational adjustments, including the closure of its WeChat store by November 30, 2025, while planning to re-enter the Beijing market in March 2026 after a hiatus of nearly 20 years [1][6][7]. Group 1: Operational Changes - Din Tai Fung's WeChat store will cease operations, and customers must redeem their points by the deadline, or they will expire [1]. - The company will also terminate its corporate group purchasing service, although it claims that offline store operations will remain unaffected [2]. - The brand has seen a reduction in its physical presence in mainland China, with the number of stores dropping to 14 in major cities like Shanghai, Guangzhou, Shenzhen, and Hangzhou [1][3]. Group 2: Market Performance - Despite its popularity overseas, Din Tai Fung has faced challenges in the mainland market, leading to the closure of multiple locations [3][5]. - In the U.S., Din Tai Fung's average store revenue is projected to be $27.42 million in 2024, with total revenue reaching $411.6 million (approximately 2.9 billion RMB), marking a nearly 20% annual growth [2]. Group 3: Future Prospects - The company aims to return to the Beijing market, which is seen as a strategic move to capitalize on the remaining growth potential in the mainland market [7]. - Industry experts believe that Din Tai Fung's brand recognition as a leading "soup dumpling" brand remains strong, providing a foundation for its potential resurgence [8]. - The brand is expected to adapt its business model to better meet the needs of younger consumers and improve cost-effectiveness in its offerings [8].

另据东方财经此前报道，该门店工作人员表示，"我们现在是总部第一家店换的。具体的没有跟我们 说，是我们总部这边执行的，我们也不太清楚。"对方还表示，"我从草原来"的广告语是新出的，之前 没有这句话。（界面，艾塔） 【#西贝一门店调整logo颜色和广告语#，工作人员回应】近日，有网友发帖称，国庆去西贝北京石景山 万达门店，餐厅logo从之前的红白配色换成了白绿配色，"莜面村"改成了"我从草原来"。 10月10日，智通财经致电西贝石景山万达门店，工作人员表示，logo的文字仍然是"西贝"，配色的确变 了，但当谈及"莜面村"是否改成了"我从草原来"时，该工作人员未正面回答。 ...

根据西贝官方信息，2025年10月9日～2025年10月31日，消费实付每满50元送1张50元代金券、消 费实付满100元送2张、满150元送3张。全国西贝XIBEI门店可用，此券仅限堂食使用，领取后次日生 效，当天不可用，30天内有效，仅限本人使用。此前西贝已经发过一轮百元代金券，且对部分菜品进 行了降价。（第一财经记者 宋婕） ...

Group 1 - The core viewpoint is that Tehai International, backed by Haidilao's strong capabilities, has significant potential in the overseas Chinese dining market, with an "overweight" rating given by Dongwu Securities [1] - The company is expected to achieve a net profit of $49.45 million, $56.36 million, and $74.44 million from 2025 to 2027, with a compound annual growth rate of 50.6% [1] - Tehai International is positioned as Haidilao's overseas listing platform, focusing on global store expansion, particularly in Southeast Asia, with a projected increase in overseas stores to 129, 140, and 149 by 2025 to 2027 [1] Group 2 - The overseas hot pot market is projected to reach $30 billion, supported by over 60 million overseas Chinese, which will aid the expansion of Chinese dining brands [2] - Tehai International is the largest Chinese dining brand, leveraging social media tools to penetrate overseas markets [2] - The traditional Chinese dining industry abroad has low concentration, and hot pot, being a highly standardized category, is expected to replicate the success of Westernized Chinese dining brands [2] Group 3 - Haidilao is recognized as the leading hot pot brand, possessing brand strength and a mature international operation and supply chain system [3] - The average return period for stores is continuously optimized, projected to shorten to 5.1 years by 2024 [3] - The company employs a comprehensive evaluation, promotion, and compensation system to ensure overall product and service quality [3]

Core Viewpoint - The article discusses the recent struggles of Tai Er Suancaiyu, a brand under Jiumaojiu Group, highlighting a significant decline in revenue and net profit, alongside a shift in consumer perception and market competition [3][4][15]. Financial Performance - Jiumaojiu Group reported a revenue of 27.53 billion yuan for the first half of 2025, a decrease of 10.1% year-on-year, with a net profit of 0.61 billion yuan, down 16.05% [3]. - Tai Er Suancaiyu's revenue fell to 19.49 billion yuan, a decline of 13.3%, marking the first significant store closures with a net reduction of 65 stores [3][4]. - The group's market capitalization has plummeted from nearly 550 billion HKD to under 30 billion HKD, a loss of over 520 billion HKD, equating to a 94% decrease [8]. Brand Evolution and Strategy - Tai Er Suancaiyu was initially successful due to its focus on a single product strategy, achieving a high table turnover rate of 4.9 times per day [6][7]. - The brand is now undergoing a transformation to a more diversified menu, introducing new dishes while moving away from its previous strict dining rules [9][10]. - The company plans to complete the renovation of 150 "fresh" stores by the end of the year, with a total of 68 already transformed [12][13]. Market Challenges - The brand faces intense competition from the rising popularity of pre-packaged meals, which have significantly lower prices compared to Tai Er's offerings [17]. - The shift in consumer preferences and the emergence of new competitors in the market have further complicated Tai Er's recovery efforts [20]. Future Outlook - Despite the challenges, Tai Er Suancaiyu remains a crucial part of Jiumaojiu's strategy, as the company explores new growth avenues through its retail business, which has seen a 140% increase in revenue [19]. - The overall dining industry is experiencing a shift, with the grilled fish market growing, indicating potential areas for Tai Er to pivot and innovate [20].

Core Viewpoint - The recent price reduction of over 20% on certain dishes at Xibei has gained significant attention, with the highest reduction reaching 40% on National Day, indicating a strategic move to attract more customers and improve sales performance [1][4]. Group 1: Price Adjustments - Xibei has implemented price reductions on various menu items, such as the price of scallion grilled fish dropping from 89 yuan to 79 yuan, and the price of large plate chicken decreasing from 79 yuan to 69 yuan [4][5]. - The restaurant has committed to maintaining these new prices moving forward, as confirmed by staff [4]. Group 2: Customer Response and Traffic - On the first day of the price reduction, Xibei's Beijing Fangzhuang location experienced a full house, with a wait time of 20 to 25 minutes for small tables by 12:30 PM, indicating a strong customer turnout [4][5]. - The store manager reported that customer traffic on September 30 reached over 240, significantly higher than the usual weekend average of around 180 [4]. Group 3: Operational Changes - Xibei has made operational adjustments, including shifting from pre-prepared dishes to on-site cooking, such as grilling lamb skewers and preparing pork ribs fresh at the restaurant [5]. - The restaurant has also stopped its previous 25-minute service guarantee, resulting in longer average wait times for food [5]. Group 4: Marketing Strategies - To attract customers, Xibei has sent out promotional messages to members, offering food vouchers and a 100 yuan dining voucher for visits during the National Day holiday [6][12]. - The restaurant is actively encouraging customers to try the newly adjusted dishes through these promotional efforts [12].

Core Viewpoint - The company Xibei is undergoing significant price adjustments across its nationwide stores, with price increases ranging from 20% to 40% on various menu items, as part of its efforts to recover from recent controversies [2][5]. Price Adjustment Summary - On October 1, Xibei completed the price adjustments, with some items seeing notable changes. For example, the price of the "Crispy Roast Lamb Chops" remains unchanged at 109 yuan, while the "Fragrant Grilled Fish" decreased from 89 yuan to 79 yuan, reflecting an 11% reduction [5][9]. - The price changes include both increases and decreases across different menu items, with some items like "Sesame Oil Fried Eggs" seeing a 23% decrease from 43 yuan to 33 yuan, while "Chicken Soup with Yam and Tofu" increased from 43 yuan to 46 yuan, a 3% rise [9]. Recent Reforms - Xibei has been implementing various reforms to restore its reputation following recent controversies, indicating a proactive approach to address customer concerns and improve its market position [9].

Core Viewpoint - Recently, it was reported that Xibei has significantly increased menu prices across its nationwide stores by 20% to 40% as of October 1, 2023, although some items have seen price reductions in certain locations [2]. Price Changes - On September 29, a visit to a Xibei store revealed that the total bill for 10 dishes was 353.9 yuan, with one item not displayed on the receipt [4]. - A comparison of menu prices from September 29 to October 1 showed that several dishes had decreased in price, including: - Grilled lamb skewers down by 2 yuan - Yellow rice cake down by 3 yuan - Scallion grilled fish down by 10 yuan - Small pot beef brisket down by 3 yuan - Wuchang rice down by 1 yuan [6]. - Additionally, a receipt from September 13 indicated that the price for five types of tomato sauce noodles decreased by 10 yuan, and the price for olive oil stir-fried mushrooms also decreased by 10 yuan [10]. Customer Engagement Strategies - To attract customers, Xibei is currently offering a "free 100 yuan voucher" for dining in-store [11]. - The service model has shifted, with staff indicating that most dishes are now prepared fresh upon order, with daily ingredient purchases occurring in the morning and afternoon. However, some items, such as certain fish and organic broccoli, are still sourced from frozen products due to preparation constraints [11].

Core Viewpoint - The company Xibei has announced a significant price reduction on its menu items, with discounts ranging from 20% to 40%, although actual reductions are less than expected, averaging around 9.8% for the popular "Luo Yonghao" set menu [2][4][12]. Pricing Adjustments - Starting from October 1, Xibei's nationwide stores implemented a price reduction on various dishes, with some prices being printed on paper and affixed to menus due to the sudden nature of the change [2][3]. - The "Luo Yonghao" set menu, which originally cost 663 yuan, is now priced at 598 yuan, reflecting a reduction of 65 yuan or 9.8% [4][6]. Customer Response - Despite the price cuts, customer sentiment remains largely negative, with a significant number of users expressing they will not return to Xibei, indicating a disconnect between the price reduction and customer satisfaction [12][13]. - Some customers have reported that while prices have decreased, portion sizes have also been reduced, leading to further dissatisfaction [15][16]. Market Position - Following the price adjustments, Xibei's customer traffic has not seen a notable increase, with many seats remaining empty during peak hours, contrasting with nearby restaurants that are experiencing higher customer volumes [18][20]. - The company is reportedly making adjustments based on customer feedback, but it remains uncertain if these changes will effectively attract customers back [21]. Service Improvements - There has been a noticeable improvement in service quality at Xibei, with staff proactively offering complimentary items such as tea and snacks to customers [22].