Core Viewpoint - Haidilao International Holding Ltd. reported a decline in customer traffic and table turnover rates in the first half of 2025, attributed to intensified competition and changing consumer demands, despite achieving significant revenue and profit figures [2][3]. Financial Performance - In the first half of 2025, Haidilao achieved a revenue of 20.703 billion yuan and a net profit of 1.755 billion yuan, with core operating profit at 2.408 billion yuan [2]. - The total number of customers served reached nearly 190 million, with an overall table turnover rate of 3.8 times per day [2]. Restaurant Operations - As of June 30, 2025, Haidilao operated 1,363 restaurants, including 1,299 in mainland China and 23 in Hong Kong, Macau, and Taiwan, along with 41 franchised locations [2]. - The company opened 25 self-operated restaurants and 3 franchised restaurants in the first half of 2025 while closing underperforming locations as part of its "Woodpecker Plan" [2]. Franchise Strategy - Since opening its franchise model in 2024, Haidilao has validated the feasibility of this approach, focusing on quality and brand consistency across franchise and self-operated locations [3]. - The company aims to support the development of multiple brands alongside its main brand, enhancing its growth strategy [3]. Innovation and Customer Experience - The "Different Haidilao" initiative focuses on enhancing customer experience through personalized services, regional product offerings, and innovative dining environments [4][5]. - The company has introduced themed menus and regional specialties to cater to local tastes, such as seasonal dishes in various provinces [4]. Multi-Brand Development - Haidilao's "Pomegranate Plan" has led to the establishment of 126 additional restaurant brands, with significant revenue growth from these new ventures [6]. - The company reported a 227% year-on-year increase in revenue from other restaurant brands, totaling 597 million yuan [6]. Digital Transformation - Haidilao has been advancing its digital capabilities, with over 200 million members in its loyalty program, enhancing operational efficiency and customer engagement [7][8]. - The company is integrating digital technologies to streamline management processes and improve decision-making across its restaurant network [8]. Future Outlook - Management expresses confidence in overcoming current challenges and aims to enhance dining experiences, diversify operations, and explore acquisition opportunities to enrich its business portfolio [8].

Core Points - A video posted by a netizen in Hohhot, Inner Mongolia, revealed that a customer received a response containing insulting language from a customer service representative after placing an order through a food delivery platform at a Haidilao restaurant [2][6] - On August 25, a representative from Haidilao stated that a special investigation has been initiated regarding the incident, and any potential issues will be reported to the authorities. The company is committed to thoroughly investigating the matter and holding accountable anyone involved in actions that violate customer rights [2][6] Company Response - The incident involved a customer who requested to substitute beef and crab sticks with vegetables in their order but received a derogatory reply, which sparked significant public attention [6] - The specific location of the incident was identified as the Haidilao Hot Pot Wutasi Primary School store, which has since changed its service status to "closed" after originally being open until 2 AM [6]

Core Viewpoint - Haidilao reported a net profit of 1.76 billion yuan in the first half of the year, with revenue reaching 20.7 billion yuan, indicating a decline in profit due to decreased table turnover rates and initial adjustments in product and service innovations [1] Financial Performance - Revenue for the first half of the year was 20.7 billion yuan, while net profit was 1.76 billion yuan [1] - The takeaway business generated 928 million yuan, showing a year-on-year growth of 59.6%, with "side dishes" contributing over 55% of this revenue [1] Operational Metrics - The average table turnover rate for self-operated restaurants was 3.8 times per day, down from 4.2 times per day in the same period last year [1] - The average customer spending was 97.9 yuan, slightly up from 97.4 yuan year-on-year [1] Expansion and Closures - As of the end of the first half, Haidilao operated 1,363 hot pot restaurants, having opened 25 self-operated and 3 franchised restaurants during this period [1] - The company implemented the "Woodpecker Plan," resulting in the closure of 33 restaurants that underperformed or had insufficient growth potential [1]

Core Viewpoint - Haidilao reported a revenue of 20.703 billion yuan and a net profit of 1.755 billion yuan for the first half of 2025, indicating a proactive approach to market challenges through innovation and multi-brand strategies [1] Financial Performance - In the first half of 2025, 89.8% of Haidilao's revenue, amounting to 18.58 billion yuan, came from its restaurant operations [1] - The takeaway business saw a nearly 60% increase, with the "single-person meal" takeaway contributing over 55% of takeaway revenue [1] - Other restaurant revenue grew by 227% to 596.5 million yuan, driven by the "Pomegranate Plan" and various dining scenarios [2] Business Strategy - The "Pomegranate Plan" aims to develop multiple restaurant brands, leveraging supply chain and marketing systems to enhance brand diversity [2] - As of June 30, 2025, Haidilao operated 14 restaurant brands with a total of 126 locations, including the newly opened "Yanjing Barbecue" [2] - The company is focusing on optimizing its restaurant network, having opened 25 self-operated and 3 franchise restaurants in the first half of 2025 [3] Customer Engagement - Haidilao's membership base exceeded 200 million, with efforts to extend member benefits to travel and transportation sectors [3] - The company is enhancing customer experience through AI technologies, including personalized ordering and intelligent recommendations [4] Industry Context - National statistics indicate that the total restaurant revenue in China for the first half of 2025 was 27.48 billion yuan, with a year-on-year growth of 4.3% [5] - The hot pot market is projected to reach a scale of 650 billion yuan in 2025, reflecting a growing consumer interest in hot pot dining [5]

8月25日晚间，海底捞发布2025年上半年业绩报告。 "我们的餐厅翻台率及客流量在2025年上半年有所下降，主要由于餐饮市场竞争加剧，顾客消费需求变 化等影响。"海底捞表示。 截至2025年6月30日，海底捞火锅方面，公司共经营1363家餐厅，其中，加盟餐厅41家。海底捞持续进 行门店网络优化，2025年上半年新开自营餐厅25家，加盟餐厅3家。同时，海底捞继续落实"啄木鸟计 划"，主动关停了一些经营表现不达预期、增长潜力不足的餐厅，另有部分餐厅因其他商业原因停止营 业，共关闭33家餐厅。截至2025年6月30日，除海底捞火锅之外，公司还运营14个餐饮品牌共计126家餐 厅。 （文章来源：新京报） 2025年上半年，海底捞实现营业收入约207.03亿元，期内溢利约17.55亿元，核心经营利润约24.08亿 元。 "2025年上半年，我们实现营业收入约207.03元，同比下降3.7%；核心经营利润（非国际财务报告准则 计量）约24.08亿元，同比下降14.0%；期内溢利约17.55亿元，同比下降13.7%。利润下降受翻台率下 降，以及产品、场景等创新模式方面的初期调整影响。公司认为这一阶段业绩下滑反映出管理层在管 ...

Core Viewpoint - Haidilao International Holding Ltd reported a decline in revenue and profitability for the first half of 2025 compared to the same period in 2024 [1] Financial Performance - Revenue for the first half of 2025 was 20.703 billion yuan, down from 21.491 billion yuan in 2024 [1] - Restaurant operating income decreased from 20.596 billion yuan in 2024 to 19.177 billion yuan in 2025 [1] - Profit before tax for the first half of 2025 was 2.627 billion yuan, a decrease from 2.888 billion yuan in 2024 [1] - Net profit fell from 2.033 billion yuan in 2024 to 1.755 billion yuan in 2025 [1] - Profit attributable to shareholders decreased from 2.038 billion yuan in 2024 to 1.759 billion yuan in 2025 [1] - Core operating profit (non-IFRS measure) declined from 2.799 billion yuan in 2024 to 2.408 billion yuan in 2025 [1] Restaurant Operations - The number of self-operated restaurants decreased from 1,343 in 2024 to 1,322 in 2025 [1] - The number of franchised restaurants increased significantly from 1 in 2024 to 41 in 2025 [1] Dividends - The company announced an interim dividend of 0.338 HKD per share [1]

Core Insights - Haidilao reported a revenue of 20.703 billion yuan for the first half of the year, representing a year-on-year decline of 3.7% [1] - The net profit for the same period was 1.755 billion yuan, down 13.7% year-on-year [1] - Core operating profit decreased by 14% to 2.408 billion yuan [1] Business Operations - As of June 30, Haidilao operated a total of 1,363 restaurants, including 41 franchised locations [1] - The company also manages 14 other restaurant brands, including "Yanjing Barbecue" and "Congqian Yinxiang," with a total of 126 additional restaurants [1] - Revenue from other restaurant operations reached 597 million yuan, showing a significant year-on-year growth of 227% [1]

餐厅表现方面，2025年上半年自营海底捞餐厅整体翻台率3.8次╱天，同店翻台率3.8次╱天，海底捞餐 厅接待顾客总数189.8百万人次。海底捞餐厅翻台率及客流量于2025年上半年有所下降，主要由于餐饮 市场竞争加剧，顾客消费需求变化等影响。 格隆汇8月25日丨海底捞(06862.HK)公告，2025年上半年，集团实现营业收入人民币20,703.3百万元，较 去年同期下降3.7%。集团核心经营利润（非国际财务报告准则计量）人民币2,408.1百万元，较去年同 期下降14.0%。集团溢利人民币1,754.6百万元，较去年同期下降13.7%。利润下降受翻台率下降，以及 产品、场景等创新模式方面的初期调整影响。公司认为这一阶段业绩下滑反映出管理层在管理能力方面 存在不足，作为管理层，公司将继续努力并进行改善。董事会已决议宣派截至2025年6月30日止六个月 公司股份的中期股息每股0.338港元，以派付予于2025年9月11日营业时间结束时名列公司股东名册的公 司股东。 集团拥有多个餐饮品牌。截至2025年6月30日止，海底捞火锅方面，公司共经营1,363家餐厅，其中自营 餐厅中国大陆地区1,299家，港澳台地区23家 ...

Core Viewpoint - Haidilao International Holding Ltd. reported a decline in restaurant performance and customer traffic in the first half of 2025, attributed to intensified competition and changing consumer demands, despite achieving significant revenue and profit figures [1][2]. Financial Performance - In the first half of 2025, Haidilao achieved revenue of 20.703 billion yuan and a net profit of 1.755 billion yuan, with core operating profit at 2.408 billion yuan [1]. - The total number of customers served reached nearly 190 million, with an overall table turnover rate of 3.8 times per day [1]. Restaurant Operations - As of June 30, 2025, Haidilao operated 1,363 restaurants, including 1,299 in mainland China and 23 in Hong Kong, Macau, and Taiwan, along with 41 franchised locations [1]. - The company opened 25 self-operated restaurants and 3 franchised restaurants in the first half of 2025 while closing underperforming locations as part of its "Woodpecker Plan" [1]. Franchise Strategy - Since opening its franchise model in 2024, Haidilao has validated the feasibility of this approach and is committed to maintaining quality across all franchise operations [2]. - The company aims to support the development of multiple brands alongside its main brand through the "Pomegranate Plan" [2]. Innovation and Customer Experience - Haidilao launched the "Different Haidilao" initiative, focusing on customer, employee, product, and scene innovations to enhance customer satisfaction and operational efficiency [3][4]. - The company introduced themed menus and regional specialties to cater to local tastes, enhancing its competitive edge [3]. Multi-Brand Development - The "Pomegranate Plan" has led to the establishment of 126 additional restaurant brands, with significant revenue growth from these brands, particularly "Flame Grilled BBQ" [5]. - Haidilao is focusing on optimizing single-store models and supporting promising projects within its multi-brand strategy [5]. Digital Transformation - Haidilao's membership base surpassed 200 million, and the company is enhancing its digital capabilities to improve operational efficiency and customer engagement [6][7]. - The integration of digital technologies aims to streamline management processes and support the company's multi-brand strategy [6]. Marketing and Brand Expansion - The company is expanding its marketing strategies through collaborations with popular IPs to attract younger demographics and enhance in-store traffic [7]. - Haidilao is committed to maintaining the integrity of its membership system while exploring partnerships to broaden its market influence [7].

Core Viewpoint - Haidilao International Holding Ltd. reported its financial results for the first half of 2025, showing a revenue of 20.703 billion yuan and a net profit of 1.755 billion yuan, indicating a challenging market environment with intensified competition and changing consumer demands [1][3]. Financial Performance - In the first half of 2025, Haidilao achieved an operating income of 20.703 billion yuan and a net profit of 1.755 billion yuan, with core operating profit at 2.408 billion yuan [1]. - The total number of customers served reached nearly 190 million, with an overall table turnover rate of 3.8 times per day [3]. Restaurant Operations - As of June 30, 2025, Haidilao operated 1,363 restaurants, including 1,299 in mainland China and 23 in Hong Kong, Macau, and Taiwan, along with 41 franchised restaurants [3]. - The company opened 25 self-operated restaurants and 3 franchised restaurants in the first half of 2025, while also closing underperforming locations as part of its "Woodpecker Plan" [3]. Strategic Initiatives - Haidilao is focusing on a multi-brand strategy, with the "Pomegranate Plan" leading to the establishment of 126 additional restaurant brands, contributing to a significant revenue increase of 227% year-on-year for other restaurant income [7][9]. - The company is enhancing its digital capabilities and operational efficiency through a smart digital platform, aiming to empower its management and improve customer service [10]. Customer Engagement and Marketing - The "Different Haidilao" initiative aims to meet diverse consumer needs by innovating customer experiences, enhancing employee development, and creating personalized services [4][5]. - Membership numbers surpassed 200 million, with ongoing collaborations with various IPs to attract younger demographics and enhance customer loyalty [11]. Future Outlook - Haidilao management expresses confidence in overcoming current challenges and aims to enhance dining experiences, diversify operations, and strategically seek acquisitions to enrich its business portfolio [11].