Core Viewpoint - Yang Guofu is entering the self-service hot pot market, potentially competing with Haidilao, as evidenced by the opening of a new self-service rotating hot pot restaurant in Qingdao [1][7]. Group 1: New Business Development - The new self-service rotating hot pot restaurant features a spacious and bright interior with a circular conveyor belt at its core, promoting a one-person-one-pot dining model [3]. - The menu offers a variety of seven classic broth flavors, including signature spicy broth and sour tomato broth, along with dozens to hundreds of ingredients, covering meats, vegetables, seafood, snacks, desserts, and drinks [4]. - Seasonal fruits and vegetables are also included in the menu, which is relatively uncommon in the self-service hot pot industry [4]. Group 2: Pricing and Consumer Response - During the opening period, promotional pricing was set at 29.9 yuan from July 19 to 21, followed by 34.9 yuan from July 22 to 28, before returning to the original price of 59.9 yuan [7]. - The restaurant experienced high customer turnout during the promotional period, with reports of long wait times [7]. Group 3: Strategic Considerations - The expansion into the self-service hot pot sector is seen as a strategy to broaden the consumer base and increase revenue, particularly targeting younger consumers who prefer solo dining [7]. - The move is also viewed as a way to leverage supply chain synergies, as both hot pot and spicy hot pot share similar ingredient requirements [7]. Group 4: Previous Innovations and International Expansion - This is not the first time Yang Guofu has ventured into new categories, having previously launched mid-to-high-end Thai-style spicy hot pot and cold pot skewers [8]. - The company has been actively expanding internationally, with significant openings in Europe and Japan, including a flagship store in London that achieved record sales on its opening day [10][11].