New brands to provide new growth drivers. Haidilao's Pomegranate Plan has incubated 14 catering brands with a total of 126 stores. Among them, "YEAH QING BBQ" opened 46 new stores in 1H25, bringing the total number of its stores to 70. Revenue from other restaurants increased by 227% YoY to Rmb597, and its revenue share rose by c.2ppts to c.3%. Interim dividend. Haidilao announced an interim dividend of Rmb0.309 or HK$ 0.338 per share. The dividend payout ratio for 1H25 was 97%. Based on the closing price o ...