Core Insights - The hot pot industry is experiencing a shift from "incremental competition" to "stock competition," with a noticeable slowdown in market growth and a decline in per capita consumption [3][4] - The company, Xiabuxiabu, has launched a dual-point model for its brand "CaoCao," which includes a "selected single point + all-you-can-eat" approach, now available in 130 stores nationwide [1][2] - The company has introduced a single-person lunch set priced at 78 yuan per person, currently available in six cities in South China [2] Industry Trends - The hot pot market's growth rate is slowing, with per capita consumption expected to drop from 86.7 yuan in 2022 to 77.1 yuan by 2025, marking an 11% decline over four years [3] - There is a significant reduction in the proportion of stores with per capita consumption above 90 yuan, which has decreased by 16.9 percentage points, while stores with prices below 70 yuan have increased by 20.9 percentage points [3] Company Strategy - To support the "all-you-can-eat" model, the company emphasizes the need for a robust supply chain, which is crucial for maintaining quality and price competitiveness [4] - The company employs a supply chain management system that combines centralized control with regional operations, ensuring fresh produce and flexibility in menu offerings [4] - The company has invested in its supply chain by acquiring a halal meat processing company and establishing its own organic pastures and vegetable bases to ensure high-quality ingredients [4]