Core Insights - Haidilao has launched a new sushi brand "Rushi Sushi" in Hangzhou, which has seen impressive customer traffic, averaging 800 to 1000 visitors on weekends with a table turnover rate of up to 8 times [1] - The sushi brand focuses on "freshly cut, cooked on-site, and freshly fried" offerings, targeting dining scenarios such as "light socializing, solo dining, and small gatherings" [1] - The pricing strategy for the menu is segmented into five tiers, with a focus on high cost-performance, particularly in the 9.9 yuan and 15 yuan price ranges [1] Industry Overview - According to a report by the Red Restaurant Industry Research Institute, the Japanese cuisine market in China is projected to reach 69 billion yuan in 2024, reflecting a 2.2% year-on-year increase, with expectations to rebound to 70 billion yuan by 2025 [1] - The sushi category is becoming a new growth direction in the restaurant market due to its quick service and high table turnover efficiency, appealing to consumers seeking value [1] - The introduction of self-service ordering and conveyor belt delivery systems enhances operational efficiency for restaurant management [1] Company Performance - Haidilao reported a revenue of 20.703 billion yuan for the first half of the year, a decline of 3.7% year-on-year, with a net profit of 1.755 billion yuan, down 13.7% [2] - The company has successfully incubated 14 new restaurant brands under the "Pomegranate Plan," with a notable revenue increase from these second brands, achieving 5.97 billion yuan in revenue, a 227% year-on-year growth [2] - As of June 30, Haidilao operated 1,363 restaurants, including 41 franchised locations [2]