Core Viewpoint - Haidilao is innovating by launching themed restaurants, such as the new "Crispy Fish" concept in Guangzhou, to differentiate itself in a saturated market [1][2][4]. Group 1: Thematic Store Launches - Haidilao has opened a "Crispy Fish Fresh Cut Theme Store" in Guangzhou, marking a significant departure from its traditional offerings [2]. - The new store features a glass fish tank and a visible kitchen where chefs prepare dishes on-site, enhancing customer experience [2][11]. - The introduction of regional specialties like "Crispy Fish" from Zhongshan aims to expand the brand's reach beyond local markets [4][6]. Group 2: Market Trends and Challenges - The overall market growth for the hot pot industry is slowing, with a projected increase of only 5.6% in 2024 compared to 19.9% in 2023 [7]. - The number of hot pot restaurants peaked in November but has since declined, indicating a competitive and saturated market [7][9]. - Haidilao's strategy of localized menu adjustments and thematic innovations is a response to changing consumer demands and market conditions [10][13]. Group 3: Innovation and Differentiation - Haidilao's approach emphasizes fresh ingredients and regional flavors, with a focus on local supply chains to create unique offerings [9][10]. - The company has launched multiple themed stores across 24 cities, with a total of 42 fresh-cut kitchen theme stores, showcasing its commitment to innovation [6][12]. - Other brands in the industry, such as Banlu and Coucou, are also exploring unique offerings and localized themes to stand out in the competitive landscape [15][18]. Group 4: Future Directions - Haidilao plans to expand the successful "Crispy Fish" concept to more locations if the initial response is positive, indicating a potential nationwide rollout [4][12]. - The company is leveraging data and customer feedback to continuously adapt its menu and offerings, ensuring relevance in a dynamic market [10][13]. - The trend towards "fire pot +" models, integrating different dining experiences, is becoming more prevalent among major brands [19][20].