Hotpot-restaurant Haidilao plans to open 130 new outlets
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sales by 59.3 percent to RMB 11.7 billion (US$1.66 billion).
The staggering expansion program saw the company’s global network grow from 466 restaurants as of December 31 to 593 at the end of June. Of those, 550 are located in 116 cities across Mainland China, the balance in Taiwan, Hong Kong and overseas locations including Singapore, South Korea, Japan, the US, Canada, the UK, Vietnam, Malaysia and Australia.
Besides expanding its network, the company has been testing new technology including robotics and new generation machinery in its kitchens and robot waiters in 179 restaurants.
Chairman Zhang Yong said the company was working to optimize the operational management of the business as well as enhance the dining experience of customers.
In the first half of this year, Haidilao served more than 109 million customers with an average table turnover rate of 4.8 times per day.
In the first half of the year, the company introduced 187 dishes across regional markets and started selling its own-brand milk tea and soft drinks.
On the back of store openings, group revenue soared 59.3 percent. Same-store sales rose by 4.7 percent.
Profit attributable to shareholders rose from RMB646 million to RMB911 million. (US$91,000 to $129,000).
Questions & Answers
Q.What was the growth in Haidilao's global restaurant network during the first half of the year?
What was the growth in Haidilao's global restaurant network during the first half of the year?
The company's global network expanded from 466 restaurants at the end of December to 593 by the end of June. This growth represents an addition of 127 new outlets in six months.
Q.Beyond new restaurant openings, what other business developments did Haidilao pursue?
Beyond new restaurant openings, what other business developments did Haidilao pursue?
Haidilao also focused on integrating new technology, such as robotics and advanced machinery in kitchens, and introduced robot waiters in 179 restaurants. They also launched 187 new dishes and their own-brand beverages.
Q.What was the financial performance of Haidilao in the first half of this year?
What was the financial performance of Haidilao in the first half of this year?
Group revenue increased by 59.3 percent, with same-store sales up 4.7 percent. Profit attributable to shareholders rose from RMB646 million to RMB911 million.