On September 14, 2020, Gao Lin founder and CEO Zhang Lei andHaidilaoChairman Zhang Yong, founder and CEO Lu Qi of Miracle Founders, Zebra Capital co-founder and partner Zhuang Chenchao, and Guoyi Quantum CEO He Yu talked about “Value”.

Referring to the impact of the epidemic, Zhang Yong bluntly stated, “I was the most seriously injured; I died nine times in one life.” “Stores didn't operate every day during the pandemic, and wages were paid again, so the company had to come back,” he said. In order to survive, Haidilao made some adjustments to the organizational structure during the pandemic.

“My choices are all forced,” Zhang Yong said. “I have 1,000 or 10,000 who don't want to go out of business, but when the epidemic hits, there's no way. When the domestic stores in Wuhan were closed, I said it was fine and would reopen soon. As a result, I didn't expect Beijing, Shanghai, and the whole mainland to close soon after.”

“The scariest thing is that when China is gradually recovering, the US overseas epidemic is here again, and stores are about to close again. Until now, stores in some countries have not returned to normal,” Zhang Yong said.

Zhang Yong said that during the epidemic, Haidilao's employees were very dense, and the previous organizational structure was not suitable, so while the business was closed, Haidilao also adjusted the organization structure of the store. “Following the model of the Epidemic Prevention Headquarters, region by region directs it. This is something we have to do.”

Zhang Yong said that what he didn't expect was that the adjustments in the store brought about some unexpected gains. “It just happened to be the New Year, so I invited several company executives to our house. What I didn't expect at the time was that it was originally called New Year's Day; as a result, as soon as the epidemic hit, no one had to leave. We spent half a year thinking together. Only then did we discover that many of the organizational restructuring we did in Haidilao before were only very thorough for Haidilao stores, but in terms of affiliated companies, supply chain management, or the organizational structure of other functional departments, they were not very deep. So finally, by calming down and sorting through each department over the past few months, we have truly implemented the organizational structure of each department.”

Zebra Capital co-founder and partner Zhuang Chenchao said that 2020 has also brought drastic changes to the development of convenient bees. “At the beginning of the year, we planned to open a large number of stores. After the pandemic hit, the first thing was that everyone's stores were closed. In particular, we had a lot of office stores, and many university stores and hospital stores. None of these stores could operate. The only remaining community stores were open, which gradually resumed later, but the recovery of office buildings, schools, and hospitals was slow.”

“There is a very important question here, which is what is the long-term value of a convenience store, or what is the long-term value of our Convenience Bee,” Zhuang Chenchao reflected. “We think that creating the long-term value of convenience stores is that we use algorithms to optimize and cover everything in the entire convenience store operation.”

He laughed that operations were quite bleak during the pandemic, so we could use this opportunity to make adjustments. “Because we didn't sell well anyway, we couldn't go wrong, so we took this opportunity to make extensive system improvements. The benefit we got was that our system evolved at a much faster pace. We did work this year that might take two years to complete. Well, with the recent economic recovery, the capabilities of many of our systems have instead come out”.

“Value: My Thoughts on Investment” is published by Zhanlu Culture. The book explains in detail the investment ideas of Gao Yu's founder and CEO Zhang Lei.

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