Core Viewpoint - Company is expected to report a revenue of approximately 1.9 billion yuan for the first half of 2025, representing a year-on-year decrease of about 18.9% [2] - The net loss for the first half of 2025 is projected to be between 80 million to 100 million yuan, significantly narrowing compared to a net loss of 274 million yuan in the same period last year, indicating a reduction of 63.2% to 70.5% [2][3] Financial Performance - Cumulative losses from 2021 to the first half of 2025 have exceeded 1.3 billion yuan, with annual losses of 293 million yuan, 353 million yuan, 199 million yuan, and 400 million yuan from 2021 to 2024 respectively [2] - In 2024, the company's operating revenue was 4.755 billion yuan, a year-on-year decrease of 19.65% [2] Operational Challenges - The company has faced continuous losses primarily due to internal issues such as lack of product differentiation and average service quality, compounded by increased market competition leading to reduced customer visit frequency [3] - The company has been closing underperforming stores, with 138 closed in 2024, while opening 65 new locations, focusing on high-potential areas [3][4] Cost Optimization Efforts - The company is implementing cost optimization strategies, including digital supply chain enhancements, logistics network upgrades, and restaurant layout restructuring, which have contributed to the narrowing of losses [3][4] - The expected asset impairment losses from closed and continuously unprofitable restaurants are projected to decrease by approximately 64.1% compared to the same period in 2024 [3] Industry Context - The hot pot industry is projected to reach a market size of 668.9 billion yuan by 2025, with increasing competition and issues of product and menu homogeneity [5] - Competitors like Haidilao are innovating with new store concepts targeting the high-end market, indicating a trend towards differentiation in the industry [5] New Business Models - The company has launched the "Feng Huan Chao" partner program, which involves a tripartite shareholding model aimed at enhancing employee engagement and operational efficiency [5][6] - Initial results from the partner stores indicate profitability, suggesting potential for future expansion of this model [5][6] Customer Engagement Issues - The company previously offered an "all-you-can-eat" card, which faced customer complaints regarding service and transparency, leading to its discontinuation [6] - Rebuilding consumer trust and managing prepaid card programs effectively are seen as critical for future success [6]

长江商报记者发现，呷哺呷哺创始人贺光启重新担任公司行政总裁4年间，上市公司持续亏损，合计亏 损12.46亿元。 创始人贺光启重掌帅印后，呷哺呷哺持续陷入亏损之中。 3月27日，呷哺呷哺(00520.HK)发布财报显示，公司2024年收入达47.55亿元，同比下降19.65%；净亏损 4.01亿元，亏损较上年同期扩大。 不仅如此，2024年财报显示，呷哺呷哺旗下营业餐厅总数为957间，同比减少约13%，净关店141间。 2023年5月，呷哺呷哺推出了畅吃卡，但其业绩表现不如预期，而且被消费者指责是陷阱卡。 收入降19.65%净亏4亿 1998年，贺光启在北京西单开起第一家呷哺呷哺。2014年12月，呷哺呷哺在港股上市。 上市后的四年里，呷哺呷哺进入业绩爆发期，2015年至2018年，公司营业收入由24.25亿元增至47.34亿 元，净利润由2.63亿元增至4.62亿元，几乎实现了倍增。 然而，2019年，呷哺呷哺盈利能力开始下滑，到2020年，净利润仅183.7万元。 2021年，呷哺呷哺的核心管理层发生变动，先是湊湊CEO张振纬离职，紧接着公司董事会罢免了行政总 裁赵怡，公司创始人贺光启亲自担任行政总裁，开启 ...