Core Insights - The company Xibei plans to open 8 new stores within the year, with the Nanjing Shazhi Chuan store opening on November 22, which saw long queues during lunch hours, with customers reporting waits of nearly 1 hour [1] - The new store has significantly reduced prices on key menu items, including a 21 yuan reduction on the signature beef bone dish, a 10 yuan reduction on grilled lamb chops, and a 7 yuan reduction on Xibei gluten [1] - The company has also improved internal employee benefits, including a reported salary increase of 500 yuan and various bonuses amounting to "several hundred" yuan [1]

Core Insights - The "Qixi Tianjie Night" immersive experience event in Yuxi County, Shiyan City, Hubei Province attracted tens of thousands of visitors, showcasing local culture and cuisine [1][3] - The county's tourism revenue increased by 27% in the first half of the year, driven by the deep exploration of "Qixi culture" and the establishment of a comprehensive commercial street [3][7] Group 1: Event and Visitor Experience - The event featured popular local dishes such as mutton soup and skewers, with daily customer traffic exceeding 300 and daily revenues surpassing 20,000 yuan [1] - Visitors praised the combination of local cuisine, cultural experiences, and innovative activities like VR technology, enhancing the appeal of the area [1][4] Group 2: Economic Impact and Tourism Growth - The county has developed over 200 businesses and created a multi-faceted commercial area that integrates commerce, tourism, and culture [3] - The introduction of new projects during the holiday period, such as music performances and scenic activities, contributed to a significant increase in out-of-province visitors [3][7] Group 3: Infrastructure and Accommodation - Yuxi County has enhanced its rural tourism experience by adding new bus routes and optimizing connections to tourist sites, resulting in over 10 themed rural tourism routes [7] - The demand for accommodations surged, with unique themed rooms fully booked in advance, reflecting the growing interest in local cultural experiences [4][5] Group 4: Cultural Promotion and Marketing - The county has implemented the "Xiyinli" project to promote the integration of culture and tourism, enhancing the "Heavenly Qixi, Earthly Yuxi" cultural brand [7] - Various promotional activities have been conducted nationwide to attract tourists, contributing to the area's reputation as a romantic destination [7]

Core Viewpoint - Xibei has initiated a nationwide price reduction across its restaurants, responding to customer feedback and recent controversies regarding its menu offerings [1][2]. Price Adjustments - Several dishes have seen significant price drops, including: - Small pot beef brisket reduced from 79 yuan to 76 yuan, a decrease of approximately 4% [2] - Grassland tender roasted lamb chops reduced from 119 yuan to 99 yuan, a decrease of about 16.8% [2] - Xibei gluten reduced from 39 yuan to 33 yuan, a decrease of 15.4% [2] Customer Feedback and Controversy - The controversy began when influencer Luo Yonghao criticized Xibei for using pre-made dishes and high prices, prompting a public response from Xibei's founder, who denied the claims and announced legal action [5] - Following the backlash, Xibei issued an apology and acknowledged a gap between production methods and customer expectations, committing to improvements before October 1 [5] Rectification Measures - Xibei has implemented several changes, including: - Switching to non-GMO soybean oil for all dishes previously cooked with soybean oil [5] - Ensuring children's meals are freshly prepared in-store [5] - Making lamb skewers freshly cut, skewered, and grilled on-site [5] Promotional Activities - Xibei launched a "Xibei Treats You" campaign, offering 100 yuan dining vouchers with no minimum spend, which has led to customers significantly reducing their final bills [6][8] - Customers have reported instances of paying very little after applying the vouchers, with some dining experiences costing only a few yuan after discounts [6][11]

Core Viewpoint - The founder of Xibei, Jia Guolong, publicly refuted claims made by Luo Yonghao regarding the use of pre-prepared dishes in Xibei restaurants, emphasizing that all dishes are freshly made and not pre-packaged [1][2]. Group 1: Company Response - Jia Guolong ended his vacation early to address the allegations made by Luo Yonghao and visited the restaurant where Luo dined to clarify the situation [1]. - Starting from September 12, Xibei opened its kitchens to the public and introduced the "Luo Yonghao Menu" across its 370 locations, allowing customers to taste and supervise the cooking process [2]. - Xibei issued a letter to customers detailing the preparation processes of the 13 dishes questioned by Luo Yonghao, asserting that the accusations were unfounded [2][15]. Group 2: Kitchen Operations - The kitchens at Xibei are transparent, allowing customers to observe the cooking process, and visitors must register and follow hygiene protocols to enter [4][6]. - The chef at the Daxing location explained that while some ingredients are pre-processed, all dishes are prepared on-site and not simply reheated [7][8]. - Ingredients are delivered fresh daily, and the cooking process involves multiple steps, ensuring that dishes are not merely pre-packaged items [8][11]. Group 3: Industry Standards - The definition of "pre-prepared dishes" versus "pre-packaged dishes" is currently a topic of debate, with no clear distinction established in the industry [15][19]. - A recent notification from regulatory authorities outlines the criteria for what constitutes pre-prepared dishes, which Xibei claims do not apply to their menu items [15][19]. - The ongoing discussion about the classification of pre-prepared versus pre-packaged dishes highlights the need for clearer industry standards and regulations [19].

Core Viewpoint - The core controversy revolves around the allegations made by public figure Luo Yonghao regarding the use of pre-prepared dishes at Xibei, which the founder, Jia Guolong, vehemently denies, asserting that all dishes are freshly made and not pre-prepared [3][12][14]. Group 1: Company Response - Jia Guolong expressed his frustration over Luo Yonghao's comments, stating that Xibei has not used pre-prepared dishes since the beginning of this year, emphasizing a clear distinction between pre-prepared and pre-cooked dishes [12][14]. - Starting September 12, Xibei will allow customers to view the kitchen and the preparation process, aiming to demonstrate transparency and authenticity in their food preparation [3][12]. - Jia Guolong publicly shared the bill from Luo Yonghao's visit, which totaled 833 yuan for 14 dishes, to counter the claims of poor quality and high prices [7][10]. Group 2: Industry Context - The debate highlights a broader issue within the restaurant industry regarding the use of pre-prepared dishes, with Jia acknowledging that while Xibei does not use them, he sees pre-prepared dishes as a future trend in the industry due to their efficiency and safety benefits [15]. - The incident has sparked discussions about the need for clearer industry standards and regulations regarding pre-prepared food, indicating a gap in current practices that needs to be addressed [15][16]. - Jia Guolong mentioned that Xibei's average profit margin is below 5%, countering the perception that their prices are excessively high, and positioning their pricing strategy as fair and quality-driven [14].

Core Viewpoint - The dispute between Xi Bei and Luo Yonghao centers around the use of pre-prepared dishes in Xi Bei's restaurants, with Xi Bei's founder, Jia Guolong, vehemently denying the claims and emphasizing transparency in their food preparation process [1][4][14]. Group 1: Company Response - Jia Guolong announced that starting September 12, all 370 Xi Bei locations will publicly display the menu ordered by Luo Yonghao and allow customers to inspect the kitchen to verify the absence of pre-prepared dishes [3][4]. - Jia expressed his frustration over Luo's comments, stating that they significantly harm Xi Bei's reputation and that he is considering legal action against Luo for defamation [8][11]. - Xi Bei has previously sold pre-prepared dishes but has eliminated them entirely this year based on consumer feedback [17][18]. Group 2: Industry Context - The controversy highlights a broader industry issue regarding the standards and transparency of food preparation, with Jia acknowledging that the pre-prepared dish sector is a growing trend but emphasizing the need for regulation and quality control [18]. - Jia believes that pre-prepared dishes can enhance efficiency and food safety, suggesting that the industry must evolve responsibly to meet consumer expectations [18]. - The incident has sparked discussions about the pricing strategies in the restaurant industry, with Jia defending Xi Bei's pricing as fair, citing an average profit margin of no more than 5% in the first half of the year [17].

Core Viewpoint - The controversy surrounding the use of pre-prepared dishes at Xibei has escalated following public criticism from a prominent figure, leading to a commitment from the company to demonstrate transparency in its kitchen operations and clarify its stance on food preparation methods [3][11][12]. Group 1: Company Response - Xibei's founder, Jia Guolong, emphasized that all 370 Xibei locations do not use pre-prepared dishes, distinguishing between pre-prepared and pre-processed foods [12][14]. - Starting September 12, Xibei will publicly display the menu ordered by the critic and allow customers to observe kitchen operations to verify the absence of pre-prepared dishes [3][12]. - Jia Guolong expressed that the company is willing to refund customers if they are unsatisfied with the food, reinforcing their commitment to quality [3][12]. Group 2: Public Controversy - The dispute began when the critic, Luo Yonghao, claimed on social media that Xibei's dishes were primarily pre-prepared and overpriced, prompting a strong reaction from Jia Guolong [3][4][11]. - Luo has since offered a reward for evidence supporting his claims, escalating the situation into a contest of proof regarding the food preparation methods used by Xibei [4][11]. - The incident has drawn attention from other industry figures, with some expressing support for Xibei and acknowledging the challenges faced by restaurant brands [4][6]. Group 3: Industry Insights - Jia Guolong acknowledged that while Xibei does not use pre-prepared dishes, he does not oppose the concept, recognizing its potential benefits in terms of efficiency and food safety [15][16]. - He noted that the pre-prepared food industry needs to develop more healthily and at a measured pace, suggesting that regulatory frameworks should be established to ensure quality and safety [15][16]. - The ongoing debate highlights the need for greater transparency in the restaurant industry and the establishment of clear standards for pre-prepared food [16].

Core Viewpoint - The ongoing dispute between Xibei and influencer Luo Yonghao centers around accusations of using pre-prepared dishes, with Xibei's founder, Jia Guolong, vehemently denying these claims and emphasizing the restaurant's commitment to fresh ingredients and transparency [1][15][19]. Group 1: Company Response - Xibei will begin to publicly display the menu that Luo Yonghao ordered and allow customers to observe the kitchen operations to verify the absence of pre-prepared dishes [3][10]. - Jia Guolong expressed that the term "disgusting" used by Luo Yonghao is particularly damaging to their brand reputation, prompting a potential legal response [10][13]. - Xibei has previously sold pre-prepared dishes but has eliminated them entirely this year based on consumer feedback [18][19]. Group 2: Industry Context - The controversy highlights a broader industry issue regarding the standards and transparency of pre-prepared dishes in the restaurant sector [20]. - Jia Guolong acknowledges that while Xibei does not use pre-prepared dishes, he does not oppose the concept, recognizing its potential benefits in efficiency and food safety [19][20]. - The incident has sparked discussions about the need for clearer regulations and standards in the pre-prepared food industry to ensure consumer trust and safety [20].

Summary of the Conference Call for Jiumaojiu Company Overview - **Company**: Jiumaojiu - **Industry**: Restaurant and Food Service Key Points and Arguments Business Model and Performance - Jiumaojiu has launched a new model focusing on fresh ingredients, transitioning from a single dish (sour fish) to three signature dishes with a variety of hot dishes. As of July, 64 new model stores have been established, with a target of over 150 by the end of the year and full implementation by the end of 2026 [2][3][5] - The new model has shown a 10% year-on-year increase in revenue and a 15% increase in dine-in revenue for July and August, significantly outperforming the old model [2][5] - In the first half of 2025, the company reported a net profit of 61 million RMB, maintaining a net profit margin of 2.2%, consistent with the previous year [3][5] Store Optimization and Closure - The company is actively optimizing its store structure, planning to close 68 self-operated stores and 3 franchise stores in the first half of 2025, with an additional 40 to 50 closures expected in the second half [2][3] - These closures are anticipated to impact short-term revenue but are viewed as beneficial for long-term health [2][3] Supply Chain and Cost Management - The introduction of live fish delivery to stores has been implemented, with the supply chain focusing on vegetable cleaning, rough processing, and sauce preparation. The self-supply ratio of bass fish remains below 30% [2][9] - The new model has slightly reduced gross margins by 1-2 percentage points, but future gross margins are expected to stabilize around 64% [7][8] Consumer Trends and Market Positioning - The company has observed a shift in consumer demographics, with a decrease in young customers and an increase in family diners, leading to higher expectations for food quality and dining experience [4][11] - To adapt, Jiumaojiu is enhancing its fresh ingredient offerings and overall dining experience to meet these evolving consumer demands [4][11] Future Plans and Financial Outlook - The company aims to achieve over 18% operating profit margin per store and plans to complete the renovation of all stores by 2026, with a capital expenditure budget exceeding 300 million RMB [7][19][20] - Retail business revenue is projected to grow, with sales contributions expected to reach 110-120 million RMB in the first half of 2025 [16] Challenges and Strategic Adjustments - The company has decided to discontinue pre-packaged sour fish due to negative brand perception, with plans to reintroduce it after establishing a fresh concept across all stores [17][18] - The sour fish category is still expanding, and the company plans to enhance customer retention by diversifying its menu offerings [18] Conclusion - Jiumaojiu is undergoing significant transformation with a focus on fresh ingredients and improved customer experience, while strategically closing underperforming stores to strengthen its market position and profitability in the long term [2][3][4][5][11]