Core Insights - The core viewpoint of the article highlights the challenges faced by the company, particularly the introduction of a new self-service model by its brand, Coucou, in response to declining performance and the need for new growth opportunities [1][5][7]. Business Model Changes - Coucou has launched a limited-time self-service hot pot model in Shenzhen, Nanning, and Zhuhai, with prices set at 148 RMB and 228 RMB for different meal options [3][5]. - The self-service model aims to attract consumers by offering a variety of choices and price points, reflecting a shift towards a more accessible dining experience [3][7]. Financial Performance - Coucou's revenue share peaked at 37% of the group's total in 2021, but has since faced a decline, with sales dropping to 10.24 billion RMB in the first half of 2022, a 9.1% year-on-year decrease [5][6]. - The company reported a significant increase in losses, from 46.9 million RMB in the first half of 2021 to 278 million RMB in the same period of 2022 [5][6]. Store Operations - As of June 2023, the company closed three Coucou restaurants, and in 2024, it plans to open 13 new locations while closing 73, resulting in a net reduction of 60 stores [6]. - The table turnover rate has decreased from 4.1 times in the first half of 2019 to 1.6 times in the first half of 2024, indicating operational challenges [6]. Strategic Focus - The company is advised to concentrate on its core brands and reduce unprofitable operations to enhance competitiveness [1][9]. - The introduction of the "Feng Huan Chao" partner program aims to leverage internal talent for new store openings, indicating a strategic shift towards optimizing existing resources [8][9].

Core Insights - The company is exploring new growth opportunities by launching a limited-time self-service hot pot model in three cities, indicating a strategic shift to attract more customers [1][4][6] - The self-service model offers two pricing tiers, with the lower tier priced at 148 yuan and the higher tier at 228 yuan, including various food options [4][6] - Despite initial popularity, the company has faced significant financial challenges, including a decline in sales and increased losses over recent years [7][8][9] Financial Performance - The revenue share of the hot pot brand, 湊湊, grew from 2.5% in mid-2017 to 37% in mid-2021, with revenue reaching approximately 1.127 billion yuan [7] - However, sales dropped by 9.1% to 1.024 billion yuan in the first half of 2022, with losses increasing from 46.9 million yuan in 2021 to 278 million yuan in 2022 [8] - The company closed 73 湊湊 restaurants in 2024, resulting in a net decrease of 60 locations, leaving only 197 by year-end [8] Strategic Adjustments - The company is focusing on its core brand and plans to eliminate unprofitable business lines to enhance competitiveness [1][10] - The introduction of the self-service model is seen as an attempt to adapt to changing market conditions and consumer preferences [9][11] - The company aims to improve its operational efficiency and customer experience by leveraging digital tools and enhancing its membership system [11]