
Core Insights - Haidilao achieved a revenue of 42.755 billion yuan in 2024, marking a year-on-year increase of 3.1% [1] - The net profit for 2024 was 4.7 billion yuan, reflecting a growth of 4.6% compared to the previous year [1] - Core operating profit rose to 6.23 billion yuan, an increase of 18.7% year-on-year [1] Financial Performance - Total number of restaurants operated by Haidilao reached 1,368 by the end of 2024 [1] - The company served 415 million customers throughout the year, with an average daily footfall exceeding 1.1 million, which is a 4.5% increase from the previous year [1] - The average table turnover rate was 4.1 times per day [1] Strategic Initiatives - In August 2024, Haidilao launched the "Pomegranate Plan" aimed at fostering the incubation and development of new restaurant brands, promoting innovation in the dining service sector [1] - By the end of 2024, Haidilao had established 74 new restaurants under 11 different brands, including Yanhui Barbecue and Huoyan Guan, covering various dining scenarios [1] - Revenue from other restaurant brands reached 483 million yuan, showing a year-on-year growth of 39.6% [1] Franchise Development - Haidilao officially initiated its franchise business in 2024, completing the review and establishment of 13 franchise locations by the end of the year [2] - The franchise model has shown feasibility for scaling, with over 70% of franchise applications coming from third-tier cities and below, including many from county-level cities [2] - The company plans to continue enhancing dining experiences and exploring diversified operational strategies while further developing its franchise business [2]