封面人物 | 张勇：海底捞再出发

Core Viewpoint - The return of Zhang Yong as CEO of Haidilao is a significant strategic move aimed at addressing the company's recent challenges, including declining revenue and profits in 2025, and revitalizing its growth trajectory [3][10][11]. Company History and Development - Haidilao started in March 1994 with four tables in Sichuan, where founder Zhang Yong emphasized service quality as a key differentiator in a highly competitive hot pot market [4]. - The company underwent rapid expansion after its 2018 IPO, reaching 320 restaurants by mid-2018, and Zhang's net worth soared to over 500 billion [5]. - However, aggressive expansion led to operational challenges, including a significant drop in turnover rates and revenue, prompting a strategic reassessment [5][9]. Recent Challenges - In 2025, Haidilao faced a downturn, with revenue falling to 20.7033 billion, a 3.7% decrease year-on-year, and core operating profit dropping by 14.0% to 2.4081 billion [9]. - The decline was attributed to reduced turnover rates and initial adjustments in product and service innovation, highlighting the need for a more diversified approach to meet evolving consumer demands [9]. Leadership Changes - Zhang Yong stepped down as CEO in March 2022, with Yang Lijuan taking over, who implemented significant restructuring and cost-cutting measures to stabilize the company [8][10]. - Yang's leadership saw the introduction of innovative strategies and a focus on employee engagement, which helped halt the financial decline [8]. Future Strategies - With Zhang Yong's return as CEO, Haidilao aims to enhance dining experiences and service capabilities while leveraging digital operations for efficiency [10]. - The company plans to pursue a diversified business strategy, including the "Red Pomegranate Plan" for multi-brand incubation and potential acquisitions to expand its market presence [10][11]. - Analysts believe Zhang's return could improve decision-making efficiency and resource allocation, crucial for navigating the competitive landscape of the restaurant industry [11].