Hen Jiu Yi Qian, a popular barbecue chain, has secured nearly CNY 100 million in Series B funding from Black Ant Capital to enhance its market presence and operational capabilities.

Target Company Overview

Hen Jiu Yi Qian, a barbecue chain brand founded in 2008, has successfully completed a nearly CNY 100 million Series B financing round, exclusively funded by Black Ant Capital. As of the end of 2019, the company operated 59 stores across major cities including Beijing and Shanghai. The brand focuses on a self-service barbecue model, featuring mutton sourced from the Hulunbuir Grassland, while emphasizing supply chain quality control, exceptional service, and an unparalleled dining experience. Gourmet mutton skewers are the key highlight of their menu, characterized by a smokeless self-service barbecue experience paired with 'Haidilao-style' service, which has garnered positive brand recognition among young consumers and cultivated a loyal customer base.

Hen Jiu Yi Qian places special emphasis on mutton skewers, which are a significant product in their barbecue offerings. The sourcing of mutton from the Hulunbuir Grassland is crucial due to its seasonal nature, with processing and storage greatly influencing quality. The company has developed nearly 100 processing procedures to ensure each skewer combines fatty and lean meat, along with lamb chops, optimizing the overall sensory experience.

Industry Overview

The restaurant industry in China is witnessing significant consolidation, largely driven by environmental regulations pushing for store upgrades. The Beijing 2013-2017 Clean Air Action Plan marked a turning point by strictly controlling outdoor barb