Analysis Report on Coverage Ratio of Xibei's Employee Stock Ownership Plan

Based on my comprehensive search and analysis, the following key information regarding the coverage ratio of Xibei’s employee stock ownership plan has been identified:

According to information on Xibei’s official website, as of 2025, Xibei has nearly 400 stores across 62 cities in China, with approximately

[1][2].

Xibei has established

. These partnerships have distinctive names such as “Be Mindful of Surroundings”, “Treat Others Generously”, “Never Give Up”, “A Good Meal”, etc., which reflect Jia Guolong’s management philosophy[3].

Jia Guolong has implemented bold distribution reform measures:

. After the adjustment, Xibei employees hold of Xibei, while Jia Guolong himself only retains , but his voting rights remain unchanged[4].

Xibei launched the “100,000+” Plan, which aims to enable outstanding employees to become partners, essentially providing outstanding employees with an entrepreneurial opportunity[5].

, I in public information. The reasons are as follows:

1. Non-listed Company
   : Xibei is still a private company, and the specific details of its employee stock ownership plan have not been disclosed to the public

2. Information Limitations
   : Although Xibei has 34 employee stock ownership platforms and 17,000 employees, detailed data such as the specific number of participants and coverage ratio are internal corporate information

3. Power Decentralization Instead of Full Employee Stock Ownership
   : Based on public information, Xibei’s employee stock ownership plan mainly targets core backbone employees, rather than covering all employees

---

For a more detailed understanding of the coverage of the employee stock ownership plan, it is recommended:

• Contact the Investor Relations Department of Xibei Catering Group directly
• After Xibei initiates its listing process, more detailed information can be obtained through the prospectus

[1] Sino-Manager - Xibei Founder Announces Lawsuit Against Luo Yonghao (https://www.sino-manager.com/detail/14173)
[2] BBC News Chinese - The Dispute Over Xibei’s Pre-made Dishes (https://www.bbc.com/zhongwen/articles/c4gz89317e4o/simp)
[3] Sina Finance - Who Invested in Xibei? Focus Media’s RMB 8.3 Billion Acquisition (https://cj.sina.cn/articles/view/6143266895/16e2ad04f00101lj4o)
[4] Yema Finance - Luo Yonghao vs. Jia Guolong (https://www.yemacaijing.com/Index/view/id/87825.html)
[5] Jiemian News - Building 1,000 Partners (https://www.jiemian.com/article/1487225.html)