Guoquan Food (Shanghai) Co Ltd operates as a leading provider of one-stop home meal products in Mainland China, offering ready-to-eat, ready-to-heat, ready-to-cook meals and prepared ingredients focused on at-home hotpot and barbecue; hotpot soup bases, condiments, meatballs, shrimp paste, meat, vegetables, pots and grills; barbecue products; solo-dining meals; beverages including craft beers and NFC fruit juices; fresh produce; ready-to-cook meal kits; western cuisines; and snacks, sold primarily through its franchised Guoquan Shihui retail network and online channels including its app, WeChat mini-programs, Douyin and third-party delivery platforms. Founded in 2015 and headquartered in Shanghai, the company serves consumers across 31 provinces, autonomous regions and municipalities via over 10,400 stores as of mid-2025, with a strong emphasis on lower-tier township markets and community central kitchen positioning. It maintains seven specialized food ingredient production plants under a one-product-one-factory model, including Chengming, Guangyuan Chengming and Taijiang for condiments; Wanlai Wanqu, Huanhuan and Daixiaji for meatballs, paste and aquatic products; and Heyi for beef, alongside plans for a new base in Hainan and upstream collaborations for cost efficiencies. In recent developments, Guoquan expanded its store network by 740 net new locations to 10,400 in the first half of 2025, including 270 township-level stores and over 2,000 intelligent unmanned 24-hour retail conversions; launched 175 new hotpot and barbecue SKUs plus set meals such as Barbecue Camping Container, Unlimited Tripe Plus, Steak and Crayfish Feast; grew membership to 50.3 million with prepaid card value up 37.2% to RMB590 million; achieved 21.6% revenue growth to RMB3.24 billion and 122.5% net profit increase to RMB190.2 million for the period; and proposed an interim dividend of RMB0.0716 per share while advancing supply chain digitalization, AI integration and initial overseas market exploration.