Hurun Rich List member Lin Lairong invests in Xi'bei; with support from his hometown, can Xi'bei overcome its adjustment period?

Recently, there have been significant changes in the business registration information of Inner Mongolia Xibe Catering Group Co., Ltd. (hereinafter referred to as “Xibe”). According to Tianyancha data, on March 10, Xibe completed a business registration change, adding Lin Lairong as a new shareholder. The registered capital increased from approximately 102 million yuan to about 104 million yuan. This change has attracted widespread market attention.

Lin Lairong, the founder of Zhongxing Group and the actual controller of Dazhong Mining, is quite influential in the business world. In 2025, he successfully ranked on the Hurun Global Rich List with a fortune of 9.5 billion yuan. Notably, Lin Lairong and Jia Guolong, the founder and chairman of Xibe, are both from Bayannur City, Inner Mongolia. This partnership is seen as a strong alliance between hometown compatriots.

Xibe was established in October 2017, with Jia Guolong as the legal representative. Its business scope includes catering services, food production, online food sales, and restaurant management. According to the latest shareholder information, Xibe is now jointly held by Beijing Xibe Enterprise Management Co., Ltd., Jia Guolong, and the newly added Lin Lairong.

Looking back at Xibe’s development, just a month ago, the company completed Series A financing, attracting many investors including Zhang Yong, the founder of Xinrongji, and former Alibaba partner Hu Xiaoming. After this financing, Xibe’s registered capital increased by about 13%. Although Jia Guolong’s shareholding percentage decreased, he still maintains effective control of the company.

However, Xibe has recently faced significant challenges. Earlier this year, Jia Guolong confirmed that Xibe would close 102 stores nationwide, accounting for about 30% of its total outlets, affecting approximately 4,000 employees. Facing market and cost pressures, Xibe has decided to initiate strategic contraction and enter a period of adjustment. Jia Guolong stated, “In the coming period, we will keep fighting to survive. As long as I am here, I will stay with Xibe and every customer.”

Under operational pressure, Xibe has also implemented salary adjustment measures. On March 6, media reports indicated that an internal notice was issued, stating that, except for frontline service staff and kitchen helpers, almost all core store employees were included in a salary deferral plan. A Xibe store manager revealed that at the beginning of February, the headquarters notified store management that February wages, originally scheduled for March 10, would be delayed until the end of March. Store managers and head chefs all took a 30% pay cut, but this reduction was not entirely deducted; if the stores can reduce losses month-over-month next month, the reduced amount will be paid as a bonus.

Despite numerous difficulties, Xibe has not given up on innovation and development. Currently, the headquarters is still leading menu innovation, aiming to increase customer flow through new dishes. It is reported that in March, new popular items such as Fragrant Tree Peony Cold Noodles will be launched, while strict quality control and cost management continue. Stores will further reduce losses until reaching profitability.