--- title: "Xibei Financing, Jia Guolong brings in a \"fellow townsman\" worth over 10 billion to assist" type: "News" locale: "en" url: "https://longbridge.com/en/news/279279445.md" description: "Jia Guolong introduced a new shareholder, Lin Lairong, to Xibei Catering, with the latter acquiring a 2.16% stake for 2.2476 million yuan. Lin Lairong is the founder of Zhongxing Group, and the couple's wealth reaches 13.5 billion yuan. This financing is seen as support from fellow townsmen. Xibei Catering has completed two rounds of financing this year, increasing its registered capital to 101.6802 million yuan. Jia Guolong plans to go public in 2026, and Xibei has recently faced controversy due to the closure of 102 stores" datetime: "2026-03-16T13:46:33.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/279279445.md) - [en](https://longbridge.com/en/news/279279445.md) - [zh-HK](https://longbridge.com/zh-HK/news/279279445.md) --- # Xibei Financing, Jia Guolong brings in a "fellow townsman" worth over 10 billion to assist **Jia Guolong has secured another round of financing for Xibei.** ![Image](https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/OmRhdovCfKMK7XMvairhgMfs_yxYPqNJz7SofQ-YtTZZ4AA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Sun Wanqiu/Photo On March 16, reporters from the International Financial News noted that Tianyancha data shows that Inner Mongolia Xibei Catering Group Co., Ltd. (hereinafter referred to as "Xibei Catering") recently welcomed a new individual shareholder—Lin Lairong, who acquired a 2.1626% equity stake with an investment of 2.247572 million yuan. According to public information, Lin Lairong is the founder of Zhongxing Group and one of the actual controllers of the A-share listed company Dazhong Mining. In the 2025 Hurun Rich List, Lin Lairong and his wife An Sumei ranked 504th with a wealth of 13.5 billion yuan, an increase of 47 places from the previous year. ![Image](https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/ORoq-QH2a7mW3rmwLn4bARsIKNU46fVPzt6kzdOVSmlRMAA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Another layer of context is that Lin Lairong and Xibei founder Jia Guolong are fellow townsmen, both hailing from Bayannur City in Inner Mongolia. Therefore, this round of financing is also seen as support from a fellow townsman, and it is speculated that Jia Guolong likely leveraged his network. Chronologically, this is the second round of financing for Xibei Catering this year, with the two rounds closely connected. Tianyancha data shows that in January this year, Xibei Catering completed its Series A financing, with investors including Taizhou Xinrongtai Investment Co., Ltd. (hereinafter referred to as "Taizhou Xinrongtai"), Hohhot Collective Co-Creation Enterprise Management Center (Limited Partnership), Hangzhou Zhouxuan Equity Investment Management Partnership (Limited Partnership), Chengdu Xunda Optoelectronics Co., Ltd., among others, holding shares of 4.4209%, 4.4209%, 2.2104%, and 0.0884%, respectively. Among them, Taizhou Xinrongtai is wholly owned by Zhang Yong, the founder of the well-known catering brand Xinrongji; Hangzhou Zhouxuan Equity Investment Partnership is managed by Hu Xiaoming, the chairman of Yimi Ba Agricultural Technology, who previously served as CEO of Ant Group and president of Alibaba Cloud. After the financing, Xibei Catering's registered capital increased from 89.9029 million yuan to 101.6802 million yuan, an increase of approximately 13.1%. The rapid capital movements have also raised curiosity about whether Xibei is pushing forward with its listing process, as Jia Guolong has publicly stated multiple times that the company plans to go public in 2026. Since the beginning of this year, controversies surrounding Xibei have not ceased. In January, Xibei closed 102 stores nationwide at once, affecting about 4,000 employees. This incident attracted significant market attention, and the debate between Jia Guolong and internet celebrity Luo Yonghao sparked considerable discussion, directly leading to both of their Weibo accounts being silenced. ![Image](https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/Ob15GWni812P5brH8V_8i1oGgt8XmQ2M2RwqkMVfKn5EAAA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Wu Dian / Photo After that, some netizens posted that some employees of Xi Bei received notifications about delayed salary payments. At that time, some media reported that Xi Bei issued a notice internally, stating that almost all core operational staff in the stores, except for the most basic waiters and kitchen helpers, were included in the salary delay plan. Specifically, Xi Bei's headquarters notified the store management at the beginning of February about the delayed salary payments, with the February salary originally scheduled for March 10 being postponed to the end of March. In addition, all store managers and head chefs had their salaries reduced by 30%, and if the store could reduce losses month-on-month next month, this portion of the salary would be paid as a bonus. 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