近日，知名火锅品牌"朱光玉火锅馆"湖南长沙所有门店关停的消息引发广泛热议。8月22日，"朱光玉火锅馆"工作人员向南都N视频记者表示，"长沙 门店关停是代理商个人投资问题，其他区域门店均正常营业。关停是暂时的，后期公司会对长沙区域整体重新规划。"品牌方此前发布声明称，正协 调各方为已储值的消费者提供退款通道。 此前报道↓ 8月22日，南都记者查询发现，"朱光玉火锅馆"小程序显示的长沙市内门店，均为"商家设备离线"状态。 小程序内显示长沙门店均为"商家设备离线"状态。 同日，"朱光玉火锅馆"工作人员向南都记者表示，"长沙门店关停是代理商个人投资问题，其他区域门店均正常营业。关停是暂时的，后期公司会对 长沙区域整体重新规划。" 官网信息显示，朱光玉火锅馆成立于2020年9月。2024年1月起，该品牌向海外扩展，海外首店在纽约签约落铺。今年5月，该品牌门店在吉隆坡和澳 门开业。 朱光玉火锅馆。 南都记者注意到，8月21日晚间，"朱光玉火锅馆"官方微博发布声明称，关于长沙区域内运营的5家火锅门店暂停营业一事，公司已第一时间介入， 与相关合作方进行了深入沟通与核实。 声明称，涉事代理商于2023年加盟朱光玉品牌，长沙区域 ...

文｜红餐网 近年来，火锅赛道热点频现，贵州酸汤火锅、鲜切鸡火锅等热点交替火爆，为赛道带来了新的活力。但与此同时。火锅赛 道的竞争也日益激烈。一方面，火锅品牌在口味、食材上不断深挖，品牌的上新速度越来越快。另一方面，火锅赛道人均 消费整体下行，品牌经营压力大幅增加。在此背景下，火锅品牌纷纷谋变，通过地域食材、地域风味突围。 那么，2025年的火锅还能怎么做？还有哪些新机遇？ 火锅市场规模持续增长，热点驱动赛道创新 据红餐大数据，2024年，我国火锅市场规模达到6,175亿元，同比增长5.6%，略高于餐饮大盘的增速（5.3%）。预计2025年 火锅赛道市场规模稳步增长，有望达到6,500亿元。截至2025年5月，全国火锅门店总数已经超过49万家。 从火锅细分赛道构成来看，川渝火锅、北派火锅、粤式火锅依然是占比最大的三大细分品类，其中川渝火锅门店数最多， 占比为31.3%；紧随其后的是北派火锅，占比为14.4%；粤式火锅则保持稳定，占比为10.9%；云贵火锅在贵州酸汤火锅、 云南酸菜火锅、菌菇火锅等细分赛道的带动下，也有较好的发展，占比为2.5%。 近年来，我国火锅赛道的人均消费价格持续下行，一方面是消费者越来越注 ...

"月薪5000不配吃火锅"的争议尚未平息，巴奴毛肚火锅的资本征程又添波澜。2025年6月向港交所递交 招股书后，这家以"品质火锅"自居的品牌在8月迎来中国证监会的九大灵魂拷问。从股权架构的复杂迷 局到突击分红的合理性争议，从数据安全的合规隐患到数万员工社保的缺口，这份问询函如同一面放大 镜，将巴奴冲刺港股IPO的隐忧暴露无遗。在火锅行业增速放缓、消费分级加剧的背景下，这场资本突 围战注定充满变数。 监管利剑出鞘：股权、分红与合规三重拷问 证监会此次问询直指巴奴治理结构的三大命门，首当其冲的便是令人眼花缭乱的股权架构。招股书显 示，创始人杜中兵夫妇通过D&H (BVI) LTD与BANU UNITED LTD合计控制83.38%的投票权，形成绝对 控股。但蹊跷的是，番茄资本旗下Tomato Second、Fifth、Sixth三个境外私募基金却通过多层嵌套持有 7.95%股份，且在IPO前夕突击加注。监管层质疑这种"创始人直控+境外基金间接持股"的双重架构是否 存在利益输送，要求穿透说明基金备案与外汇管理合规性。 更耐人寻味的是实际控制人认定问题。尽管韩艳丽作为杜中兵配偶持有巨额股份，但巴奴坚持不将其列 为共同 ...

朱光玉表示，此次暂停营业相关代理商于2023年加盟朱光玉品牌，长沙区域5家门店均为该代理商自营门店，在暂停营业前，相关门店经营态势良好， 2025年6月该代理商与总部仍在接洽新店拓展计划，共同制定2025年下半年长沙区域新增5家自营门店的拓展目标。但由于该代理商事业投资规划变动，过 去一段时间，其投资的其他非餐饮领域项目相继出现问题，最终波及朱光玉长沙门店的正常运营。 近日，知名火锅品牌"朱光玉火锅馆"被曝长沙所有门店暂停营业。 8月21日晚，朱光玉火锅馆发布声明称表示意外，并第一时间介入，与相关合作方进行了深入沟通与核实。 来源：朱光玉火锅馆官方微博 据媒体此前报道，"朱光玉火锅馆"长沙门店集体闭店一事引发网友讨论，有评论称"老板已跑路"，还有网友表示在涉事门店充值了储蓄卡。点评平台显 示，"朱光玉火锅"在长沙共有5家门店，目前均显示暂停营业/尚未开业。 据悉，朱光玉火锅店被誉为"重庆火锅排队王""火锅界的万花筒"，目前已在全国开出200多家门店，系现象级网红品牌。 | 朱光玉 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- ...

Core Viewpoint - The well-known hot pot brand "Zhu Guangyu Hot Pot Restaurant" has suspended all its stores in Changsha, raising concerns among customers and the public about the company's operational stability and management issues [1][2]. Group 1: Company Situation - All Changsha locations of "Zhu Guangyu Hot Pot" are currently closed, with reports suggesting that the owner may have fled, leading to customer complaints about prepaid cards [2]. - The brand has over 200 stores nationwide and is recognized as a phenomenon in the hot pot industry, often referred to as the "King of Queuing" and "Kaleidoscope of Hot Pot" [5][1]. - The company has taken over the affected stores in Hunan (excluding Chenzhou) and is managing the situation, including processing refunds for prepaid card members [2]. Group 2: Market Position and Expansion - "Zhu Guangyu Hot Pot" was established in 2020 and has rapidly expanded, serving nearly 6 million customers in three years, with innovative products like "Tiger Skin Chicken Claw" and "Smash Lemon Tea" gaining popularity [4]. - The brand's strategy focuses on internet-driven operations rather than traditional restaurant logic, emphasizing the importance of the marketing department in understanding consumer preferences [4]. - As of 2024, the brand has opened over 200 stores across 31 provinces, with nearly 50% located in second and third-tier cities, and has also launched its first overseas store in Kuala Lumpur [4]. Group 3: Industry Challenges - The hot pot industry is highly competitive, with many entrants and a high degree of product homogeneity, leading to significant challenges and market consolidation [10]. - A report indicates that high-end hot pot, low-quality small hot pot brands, and inexperienced entrants are particularly vulnerable to closures [12]. - Price wars are intensifying within the industry, with over 70% of Chongqing hot pot restaurants now priced between 50-120 yuan, and a shift towards exploring local ingredients and smaller community stores is emerging as a new trend [13].

Core Viewpoint - The recent closure of five stores of the popular hotpot brand "Zhu Guangyu" in Changsha has raised public concerns about the brand's stability, but the company clarified that the issue is limited to a specific regional franchisee and that overall operations remain stable nationwide [1][4][6]. Company Summary - Zhu Guangyu has five stores in Changsha, all operated by a single regional franchisee, which faced operational challenges due to issues in other non-food investments [6][7]. - The brand's headquarters has intervened to assist the franchisee and ensure minimal disruption to operations, emphasizing that the financial and legal consequences of the closures are the responsibility of the franchisee [8][9]. - Zhu Guangyu has been expanding rapidly since its establishment in 2020, with over 200 stores across 31 provinces, and has served nearly 6 million customers [11]. Industry Summary - The restaurant industry is experiencing a wave of closures, with over 30 chain brands reducing their operations between April and July 2025, highlighting the intense competition and market pressures [11][12]. - The challenges faced by Zhu Guangyu's franchisee reflect broader issues within the restaurant franchise model, where cross-industry investment failures can impact food business operations [9][12]. - The brand's successful opening of its first overseas store in Kuala Lumpur, which achieved significant daily revenue, indicates a strategic move to expand into Southeast Asia while managing domestic challenges [11][12].

文 | 奇点湃 8月8日，证监会国际司就其境外上市备案，提出需要补充的材料，围绕股权架构合规性、数据安全、分红合理性及社保缴纳等3大类9个关键问题 发出质询，令其港股IPO前景蒙上阴影。 （图注：境外发行上市备案补充材料要求公示截图） 约两个月前，巴奴递交港股招股书，意图追随海底捞、呷哺呷哺的脚步，成为第三家登陆港股市场的内地火锅品牌。 一直以来，巴奴都将海底捞视为对标对象。4年前，巴奴创始人杜中兵曾在接受媒体采访时坦言，2009年巴奴进入郑州时，连着3年模仿海底捞的 服务模式，却始终"连边儿都没沾着"。 杜中兵重新审视巴奴的定位后，提出海底捞是"服务主义"，而巴奴要做"产品主义"。2021年，巴奴将slogan升级为"服务不过度，样样都讲究"， 直指海底捞的竞争意味十分明显。 近年来，巴奴坚定聚焦"品质火锅"路线，主攻二三线城市市场，甚至将人均消费推高至百元以上，成功超越昔日对标的老大哥海底捞。 根据招股书中引援的弗若斯特沙利文报告，巴奴目前在中国品质火锅细分市场中以3.1%的份额占据一席之地，并在整个火锅行业中排名第三。 但光鲜背后，其实它也面临着不小的压力。 现金流日益紧绷，合规成本骤增，再加上高悬头顶 ...

近日，知名火锅品牌"朱光玉火锅馆"被曝长沙所有门店暂停营业。这家火锅店被誉为"重庆火锅排队王""火锅界的万花筒"，目前已在全国开出200多家门 店，系现象级网红品牌。 总部已接管涉事门店 据蓝鲸新闻报道，"朱光玉火锅馆"长沙门店集体闭店一事引发网友讨论，有评论称"老板已跑路"，还有网友表示在涉事门店充值了储蓄卡。点评平台显 示，"朱光玉火锅"在长沙共有5家门店，目前均显示暂停营业/尚未开业。 目前前述门店的联系电话均已无法拨通。记者从朱光玉品牌方了解到，目前湖南片区（除郴州外）的门店均暂停营业，受代理影响目前由公司接管，重新 开业时间以官方通知为准。长沙门店暂时停业不影响其他地区门店的运营。涉事代理在公司留有保证金，公司可以为充卡会员有序处理退款。 另外，据潇湘晨报报道，8月20日中午，记者来到德思勤城市广场，一楼服务台工作人员告诉记者，朱光玉火锅位于商场L4，但只有围挡并未开业过，记 者询问围挡是什么时候立起来的，工作人员表示不知情。 记者来到了商场1期L4，看到了朱光玉火锅的围挡，附近一家店铺的工作人员告诉记者，这个区域以前也是一家品牌火锅店，后面变成了朱光玉火锅的围 挡，但是门店从未开业过，至于什么时候 ...

每经编辑｜何小桃 近日，知名火锅品牌"朱光玉火锅馆"被曝长沙所有门店暂停营业。这家火锅店被誉为"重庆火锅排队王""火锅界的万花筒"，目前已在全国开出200多家门 店，系现象级网红品牌。 总部已接管涉事门店 据蓝鲸新闻报道，"朱光玉火锅馆"长沙门店集体闭店一事引发网友讨论，有评论称"老板已跑路"，还有网友表示在涉事门店充值了储蓄卡。点评平台显 示，"朱光玉火锅"在长沙共有5家门店，目前均显示暂停营业/尚未开业。 另外，据潇湘晨报报道，8月20日中午，记者来到德思勤城市广场，一楼服务台工作人员告诉记者，朱光玉火锅位于商场L4，但只有围挡并未开业过，记 者询问围挡是什么时候立起来的，工作人员表示不知情。 记者来到了商场1期L4，看到了朱光玉火锅的围挡，附近一家店铺的工作人员告诉记者，这个区域以前也是一家品牌火锅店，后面变成了朱光玉火锅的围 挡，但是门店从未开业过，至于什么时候立起围挡，工作人员表示不知情，但围挡立了一段时间了。 公开资料显示，朱光玉火锅馆成立于2020年，在保留重庆火锅要素外融合了高颜值茶饮甜品，其"虎皮凤爪""暴打柠檬茶"等创新产品均是风靡一时的爆 品。朱光玉火锅馆高管曾公开表示，朱光玉三年间共接 ...

Core Insights - The self-service hot pot market is experiencing a resurgence with major players like Haidilao and Yang Guofu entering the space, offering higher price points around 59.9 yuan compared to the previous average of 20-30 yuan [1][4][5] - The market currently has approximately 51,000 hot pot outlets, with many being operated by individual entrepreneurs, indicating low entry barriers but high competition [5][10] - The self-service hot pot segment is growing due to consumer demand for affordable dining options, with the overall hot pot market projected to reach 617.5 billion yuan by 2024, growing at 5.6% [5][16] Industry Dynamics - Major brands are not engaging in price wars but are focusing on quality and brand reputation to capture market share [4][11] - The self-service hot pot model has become popular among younger entrepreneurs, often leading to unsustainable competition and price cuts [5][10] - The market is witnessing a shift where higher-priced dining options are declining, while affordable self-service hot pot options are on the rise [5][10] Consumer Behavior - Consumers are increasingly drawn to self-service hot pots for their perceived value and the ability to customize their dining experience [4][5] - There is a growing concern among consumers regarding food quality and hygiene, particularly in self-service settings [12][15] - The trend of dining out is being challenged by the rise of food delivery services, impacting foot traffic in hot pot restaurants [17] Competitive Landscape - The competitive environment is intensifying, with many small hot pot outlets struggling to maintain profitability amid aggressive pricing strategies [10][11] - Successful players in the market are those who can balance quality and price, avoiding the pitfalls of solely competing on cost [11][12] - The future of the hot pot market may see a consolidation of brands, with a focus on unique offerings and supply chain efficiencies [12][16]