Haidilao closed 43 stores in the first half of the year, with a turnover rate of more than 4

[Rina77RS]

Data shows that in the first half of 2024, Haidilao achieved operating revenue of 21.491 billion yuan, a year-on-year increase of 13.8%; core operating profit reached 2.799 billion yuan, a year-on-year increase of 13.0%, and both revenue and core operating profit hit record highs. Affected by changes in net foreign exchange gains and losses and the cancellation of the preferential policy of additional VAT deduction in mainland China, Haidilao's net profit was 2.033 billion yuan, a year-on-year decrease of 10%.

In terms of the number of stores, Haidilao opened 11 new country code philippines mobile restaurants in the first half of the year, and at the same time closed some restaurants whose operating performance did not meet expectations and whose growth potential was insufficient. Some other restaurants stopped operating due to other commercial reasons such as property adjustments. A total of 43 stores were closed.



As of June 30, 2024, Haidilao operates a total of 1,343 restaurants in Greater China, of which 1,320 are located in mainland China and 23 are located in Hong Kong, Macao and Taiwan. In the first half of the year, all restaurants in Greater China received more than 200 million customers, with a turnover rate of 4.2 times per day, close to 4.8 times per day in 2019, when Haidilao had 768 stores worldwide.

In the first half of the year, Haidilao's employee costs were 7.156 billion yuan, up 24.0% year-on-year, and the percentage of revenue increased from 30.5% in the first half of last year to 33.3% in the same period of 2024. Haidilao said that this was mainly due to the company's increase in comprehensive salary and benefits for employees and the addition of personnel in some positions to better motivate employees and enhance customer experience.