政策引领市场活力 海底捞（06862）去年客流超4亿

Core Insights - Haidilao International Holding Ltd. reported a revenue of 42.755 billion yuan for the year ending December 31, 2024, representing a year-on-year increase of 3.1% and a net profit of 4.7 billion yuan, up 4.6% from the previous year [2] - The company served 415 million customers in 2024, with an average daily customer flow exceeding 1.1 million, marking a 4.5% increase from the previous year [4] - Haidilao is implementing the "Pomegranate Plan" to incubate new restaurant brands and expand its business boundaries, with 11 new brands and 74 stores launched by the end of 2024 [6][7] Financial Performance - Revenue for 2024 was 42.755 billion yuan, a 3.1% increase year-on-year, while net profit reached 4.7 billion yuan, reflecting a 4.6% growth [2] - Core operating profit rose to 6.23 billion yuan, marking an 18.7% increase compared to the previous year [2] - The company reported a 20.4% increase in takeaway revenue, amounting to 1.254 billion yuan [4] Customer Engagement and Store Management - The average table turnover rate was 4.1 times per day, indicating efficient customer service [4] - By the end of 2024, Haidilao had over 180 million members, with active members exceeding 52 million, an increase of 8.8% year-on-year [5] - The company is focusing on differentiated management by empowering frontline restaurants to cater to diverse customer needs [4] Market Trends and Industry Context - The overall restaurant market in China saw a revenue growth of 5.3% in 2024, with total revenue reaching 55.718 billion yuan [3] - Government policies aimed at stimulating consumption have positively impacted the restaurant sector, contributing to its recovery and growth [2] - Haidilao is adapting its menu to local tastes, launching over 20 national new products and more than 200 regional specialties in 2024 [4] Business Expansion and Innovation - The "Pomegranate Plan" aims to foster the development of new restaurant brands, with a focus on innovation in dining services [6] - The company has initiated a franchise model, with 13 franchise stores established by the end of 2024, primarily in lower-tier cities [8] - Haidilao is exploring various dining formats, including themed restaurants and corporate partnerships, to enhance customer experience [4][8]