Summary of Conference Call on the Restaurant Industry and Haidilao Industry Overview - The restaurant industry experienced a year-on-year decline in 2025, primarily due to the absence of consumer subsidies that were present in the same period last year, which ranged from 0.2 to 0.3 [4][3] - The price war among delivery platforms has also impacted the industry, with Haidilao opting not to participate in significant discounts, leading to a decrease in customer traffic [5][4] - The average table turnover rate in the restaurant industry was approximately 4 times in July and August 2025, consistent with national averages [2] Haidilao's Performance and Strategies - Despite pressure on table turnover rates, Haidilao maintained stable gross margins through cost control measures [4][8] - The company anticipates that the implementation of mandatory social security policies in September could increase labor costs by about 3 percentage points, but it does not plan to raise prices [8][9] - Haidilao is focusing on optimizing store locations and sizes to enhance space utilization and investment returns [10] - The company has lowered the threshold for franchise operations, resulting in new franchise stores performing comparably to company-owned stores, indicating acceptance of the new policies [12][13] Competitive Landscape - The competitive environment in the restaurant industry has intensified, with brands like Banlu Hotpot seeking to go public, creating pressure on existing players [11] - Haidilao aims to avoid direct competition with Banlu Hotpot, which targets a higher-end market, while Haidilao focuses on the mass market [11] Cost Management and Future Outlook - The increase in social security costs is manageable and will not significantly raise overall operational costs [15] - Haidilao's external delivery business remains limited, as the product offerings are not well-suited for delivery, and the company prefers to focus on scaling its sub-brands [14] - The company has implemented innovative strategies to enhance table turnover, such as themed events and promotions, which have yielded positive results in specific periods [18] - The overall market environment is challenging for new restaurant brands, with cautious consumer spending impacting the development of new brands [17] - The average customer spending for mass-market hotpot has been declining, while the spending for banquet-style barbecue remains stable at around 100-110 yuan [17] Conclusion - The restaurant industry is navigating a challenging landscape with various pressures, including competition and changing consumer behavior. Haidilao's strategic focus on cost control, franchise expansion, and innovative marketing is aimed at maintaining its market position and improving performance in the second half of 2025 [20][21]

近期，所谓"全民强制社保"话题引发热议，其中对政策的误读、对公众的误导，有必要澄清辨明。 话题源头，是最高法发布的关于审理劳动争议案件适用法律问题的解释。相关内容概而言之，就是 用人单位与劳动者不管用什么形式约定不缴社保，法院都会认定无效；如果用人单位未依法缴纳社保， 劳动者离职时要求支付补偿，打官司会胜诉。 此次司法解释并没有创设"新规"，而是统一司法裁量标准，消除了全国不同地区司法实践中的分 歧；并非现在才"强制"，按照我国劳动法、社会保险法等规定，缴纳社保本就具有强制性；亦非覆 盖"全民"，而是指向法律意义上的劳动者。少数自媒体为博眼球，冠之以"全民""强制""新规"等字眼， 只会误导公众、制造混乱。 于个人而言，社保是"生存底线"，不是"可选附加项"。 生病了有医保，衰老了有养老金，失业了有基本生活保障……谁都需要抵御风险的社保网。但为什 么一些劳动者对参加社保心存疑虑？盖因只算眼前的和投入产出的经济账，不算长远的和一失万无的风 险账；担心制度红利被企业用"上有政策、下有对策"来消解。 消除疑虑，除了凝聚共识、善加引导外，还需要政府有针对性地主动作为，让司法实践的执行力度 足以消除现实顾虑。 于企业而 ...