Core Viewpoint - Haidilao is diversifying its offerings and exploring new business models to adapt to a competitive market, including launching self-service meals and various themed restaurants, while facing growth challenges in a saturated industry [1][2][14]. Group 1: Business Innovations - Haidilao has introduced a 22 yuan self-service lunch in select locations, including a variety of dishes and drinks, as part of its strategy to attract customers during weekdays [1][3]. - The company has experimented with various formats, such as 12 yuan boxed meals, 5 yuan breakfast options, and street food stalls selling items like "boiled chicken" and "German wheat beer" [3][6]. - In 2024, Haidilao launched themed restaurants, including private rooms, family-friendly venues, and late-night dining spots, aiming to enhance customer experience and engagement [6][7]. Group 2: Strategic Plans - The "Pomegranate Plan" aims to create new sub-brands and diversify Haidilao's offerings, with over ten new brands in development, including barbecue and hot pot concepts [7][8]. - The company is focusing on improving operational efficiency by decentralizing decision-making to individual stores, allowing them to adapt to local market conditions [7][8]. - Haidilao's management emphasizes the importance of both major innovations in business models and minor improvements in daily operations and service [8]. Group 3: Market Performance - In 2024, Haidilao served 4.14 billion customers, a significant increase from 2.43 billion in 2019, but revenue growth has slowed to 3.1%, with net profit growth narrowing to 4.6% [11][14]. - The average customer spending has decreased to 97.5 yuan, continuing a downward trend since 2023 when it first fell below 100 yuan [11][14]. - Compared to competitors like Xiaobai and Taier, Haidilao's performance remains relatively strong, although the overall restaurant industry is under pressure, with significant profit declines reported [13][14]. Group 4: Future Outlook - Haidilao plans to continue focusing on stabilizing its main brand while exploring new market opportunities, particularly in lower-tier cities, despite the associated risks [11][14]. - The company is expected to maintain a cautious approach to expansion, having opened 59 new self-operated stores while closing 70 underperforming ones in 2024 [14].