HAIDILAO(06862)2024-11-25 12:00Financial Data and Key Metrics Changes - The company achieved revenue of 14.9 million, up from 25.8, up by 2.6 million, an increase of 8.3% year-on-year [5] - Other business revenue reached $5.1 million, up 21.4% year-on-year, driven by increased popularity of seasoning products and food from the company and its sub-brands [5] Market Data and Key Metrics Changes - The company served 7.4 million customers in the third quarter, a 4.2% increase year-on-year [7] - The average table turnover rate was 3.8 times, an increase of 0.1 times year-on-year [7] - The most notable performance was in the East Asia region, where the turnover rate reached 4.3 times, up by 0.4 times year-on-year [7][8] Company Strategy and Development Direction - The company aims to become a leading global integrated dining group, focusing on enhancing customer experience, restaurant network management, and new business development [4] - The company is exploring opportunities in existing markets and entering new countries, with plans to open a double-digit number of new stores in 2024 [4][12] - The company is implementing a dual management policy to enhance the motivation of key employees and streamline store management [2][17] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the competitive pricing pressures in the market, particularly from emerging Chinese hot pot brands in Southeast Asia [13][20] - The company expects stable pricing in the future, with adjustments based on exchange rates and seasonal promotions [13][21] - Management expressed confidence in the operational improvements and the potential for future growth despite challenges [34] Other Important Information - The company has identified opportunities for market penetration and expansion into new countries, with a focus on enhancing operational efficiency through centralized kitchen operations [25][26] - The company is actively working on optimizing its supply chain to reduce raw material costs [24][25] Q&A Session Summary Question: Can you share insights on the single-store model and operational metrics? - Management discussed ongoing improvements in store management and the use of management tools to enhance operational clarity and accuracy [10][17] Question: What is the outlook for table turnover and customer spending in the upcoming quarters? - Management indicated that while they expect continued year-on-year growth, the rate of increase may slow compared to earlier quarters due to higher baseline figures [20][21] Question: How does the company plan to address competitive pricing pressures? - Management noted that they are continuously monitoring pricing strategies to maintain competitiveness while considering operational costs [13][20] Question: What are the plans for overseas supply chain development? - Management outlined plans to enhance overseas supply chain capabilities, including establishing centralized kitchens in key markets [24][25] Question: What is the expected return on investment for new stores opened this year? - Management reported that most new stores are meeting performance expectations, with several achieving profitability shortly after opening [16]