Home » Haidilao pan fell nearly 7%, the market value evaporated 350 billion during the year | Catering | Epidemic

Haidilao pan fell nearly 7%, the market value evaporated 350 billion during the year | Catering | Epidemic

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[Epoch Times November 22, 2021](Epoch Times reporter Li Bing comprehensive report) On November 22, the mainland restaurant chain giant Haidilao’s share price plummeted. At one time, it fell by nearly 7%, and its share price hit a new low in nearly two years, compared with the beginning of the year. Compared with the highest price in history, the decline was as high as 78%.

China Business News reported that in the early trading of November 22, the restaurant chain giant Haidilao fell again. Its stock price hit a new low in the past two years and fell 68% during the year; compared with the historical high price at the beginning of the year, it was almost 20% off, a 78% drop.

Today, the market value of Haidilao once fell to 100.3 billion (HK$, the same below), and the market value of 100 billion is in jeopardy. In February of this year, the total market value of Haidilao once exceeded 450 billion yuan.

According to sources, on November 5, Haidilao officially announced that it will gradually close 300 stores before the end of the year, which is equivalent to nearly one-fifth of the total number of existing Haidilao stores.

The financial report shows that in the first half of this year, Haidilao achieved a revenue of 20.09 billion yuan; a net profit of 96.5 million yuan. Compared with the same period in 2019 before the epidemic, Haidilao’s net profit fell sharply, from 911 million yuan to 97 million yuan, a plunge of 89.57%.

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In 2019 and 2020, Haidilao opened 308 and 544 new stores respectively. In the first half of 2021, 299 new stores will be added. As of June 31, 2021, the total number of global stores has reached 1,597.

However, while the stores are expanding, their turnover rate (table reuse rate) is declining.

The “Daily Business News” reported on November 5 that comparing the rate of store turnover in 2020 and 2021, the change in the turnover rate of stores in third-tier and lower cities was the most obvious, from 3.6 to 2.9, while the first- and second-tier cities remained above 3. However, the turnover rate of newly opened restaurants in 2021 is only 2.3, compared with 3.1 for existing restaurants.

In 2020, Haidilao’s net profit is about 310 million yuan, a year-on-year decrease of 86.8%. Entering 2021, Haidilao’s performance is still not satisfactory. In the words of Haidilao’s management, “the operating results have not met expectations”.

Chinese food industry analyst Zhu Danpeng believes that the expansion of Haidilao is more the decline in the overall turnover rate. This time the store closure should be based on resource integration and a re-planning of the overall store layout. Good stores increase their investment, and low-profit stores make some adjustments. What we need to do now is to innovate, upgrade, and iterate the original stores.

Editor in charge: Gao Jing#

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