HAIDILAO(HK:06862) Di Yi Cai Jing·2026-01-13 16:11Core Viewpoint - The return of Zhang Yong as CEO of Haidilao signals a transformative phase for the company, as it faces challenges in a competitive dining environment and aims for diversified growth strategies [2][3]. Group 1: Leadership Changes - Zhang Yong has returned to the CEO position after nearly four years, succeeding Guo Yiqun, who resigned [2]. - The appointment of a younger executive team alongside Zhang indicates a strategic shift towards optimizing decision-making structures within the board [6]. Group 2: Financial Performance and Challenges - Haidilao's performance has been inconsistent, with a significant drop in stock price from HKD 85 in 2021 to HKD 14 currently, reflecting the company's struggles in a challenging market [3]. - The company reported a net profit of CNY 44.95 billion in 2023, following a recovery from substantial losses during the pandemic [3]. Group 3: Strategic Initiatives - The "Red Pomegranate Plan," initiated in August 2024, aims to develop various restaurant models and support multi-brand strategies, with 14 new brands successfully incubated so far [5]. - As of June 2025, the "Red Pomegranate Plan" has generated CNY 5.97 billion in revenue from other restaurant brands, marking a 227% year-on-year increase [5]. Group 4: Future Directions - Haidilao is expected to enter a phase of multi-brand and multi-format operations, necessitating improved coordination and resource sharing among its business segments [4]. - The implementation of the "Five More Strategy" focuses on multi-brand operations, diverse product offerings, extended service scenarios, channel development, and monetizing various consumer demographics [6].