Banu Hotpot

Banu Hotpot is a Chinese hot pot restaurant chain founded in 2001 by Du Zhongbing in Anyang, Henan. Initially a side venture for Du, who was involved in crude iron and coke trading, the restaurant was born from a desire to create a high-quality hot pot experience for family and friends. The brand's name, "Banu," is a reference to the boatmen of Chongqing, who are considered pioneers of Sichuan and Chongqing hot pot.

The company distinguishes itself through a philosophy of "productism," prioritizing high-quality, fresh ingredients over an service-oriented model. This strategy was solidified in 2012 when the chain was renamed "Banu Maodu Hotpot" (Banu Tripe Hotpot) to emphasize its signature dish, maodu (beef tripe), and its wild mushroom soup. To ensure quality, Banu developed a proprietary technique using natural papain (a papaya enzyme) to tenderize the tripe, moving away from the industry's common use of caustic soda. The company operates a direct-operated store model and has established five central kitchens and a base material processing plant to maintain control over its supply chain, which it terms the "third-generation supply chain." This system emphasizes fresh over frozen, natural over additives, and same-day delivery.

Banu operates in the mid-to-high-end segment of the hot pot market, with an average customer spend of around 140-150 yuan. As of June 2025, the company had 145 directly-operated stores across 39 cities in China, including Beijing, Shanghai, and Shenzhen, having expanded significantly from 83 stores at the end of 2021. The business generates revenue through its restaurant operations. Banu has received several rounds of funding from investors including CPE Funds Management, Dayone Capital, Gaorong Capital, and Tomato Capital. In June 2025, the company formally submitted an application to list on the Hong Kong Stock Exchange, with proceeds intended for network expansion, digitalization, brand building, and supply chain optimization.

Keywords: hot pot restaurant, productism, beef tripe, mushroom soup, Chinese cuisine, Sichuan hot pot, premium dining, restaurant chain, Du Zhongbing, central kitchen, supply chain management, fresh ingredients, direct-operated stores, Hong Kong IPO, Banu Maodu Hotpot, Chongqing hotpot, papain tenderization, food and beverage, hospitality, East Asian food, culinary brand