HAIDILAO(HK:06862) Sou Hu Cai Jing·2025-07-11 06:19Core Viewpoint - The article discusses the current operational challenges and ESG performance of Haidilao, highlighting its innovative service strategies, employee management issues, food safety incidents, and environmental sustainability goals. Group 1: Service Innovation and Customer Engagement - Haidilao is known for its diverse services, including nail care, photo printing, and birthday celebrations, which attract significant customer traffic, with over 415 million customers served in 2024 and an average table turnover rate of 4.1 times per day [3] - The introduction of a dedicated customer manager role aims to enhance employee-customer interaction, further improving service quality [3] Group 2: Employee Management and Retention - The total number of full-time and part-time employees at Haidilao decreased to 137,200 in 2024, a reduction of 10.78% compared to 2023, with average store staffing dropping from 109 to 97 employees [4] - The employee turnover rate for 2024 was reported at 67%, which is significantly lower than the average turnover rates of competitors in the hot pot industry [4] - However, the calculation of turnover rates may be skewed as it only includes full-time employees and does not account for the approximately 40% of part-time staff [4] Group 3: Food Safety Issues - Haidilao has implemented a comprehensive food safety management system, conducting over 5,562 quality checks in 2024 [5] - Despite these efforts, the company faced several food safety violations, including incidents involving foreign objects in food and a significant refund due to a hygiene issue [5] Group 4: Environmental Sustainability Goals - Haidilao's MSCI ESG rating is B, which is lower than its competitor, with a focus on reducing carbon intensity rather than total emissions [6] - The company aims to reduce greenhouse gas emissions per unit of revenue by 12% annually from 2022 to 2026, achieving a 16.7% reduction in 2024 compared to the baseline year [6] - However, total carbon emissions increased by 1.42% in 2024, totaling 946,400 tons of CO2 equivalent, with electricity usage being the primary source of emissions [6][7] Group 5: Challenges in Green Operations - Haidilao aims to reduce average waste generation and electricity usage by 10% by the end of 2025, but has faced challenges in achieving these targets [8] - In 2024, average electricity consumption per store increased by approximately 19.06%, and water usage per million yuan of revenue rose by about 12.71% compared to 2018 [8] - The company has successfully reduced waste generation by 21.47% since 2018, with an average of 181.88 tons of waste produced per store [8]