On February 20, Haidilao (6862HK) issued a profit forecast, and its annual revenue in 2023 is expected to be no less than 41.4 billion yuan, a year-on-year increase of no less than 333%；It is expected that the net profit will not be less than 4.4 billion yuan, compared with 16400 million yuan net profit, a year-on-year increase of 168%, compared with 234.5 billion yuan, which is nearly doubled.
In this regard, Haidilao attributed the increase in turnover rate and the improvement of operational efficiency.
According to the announcement, Haidilao will incur a net exchange loss in the second half of 2023, and if the impact of foreign exchange losses is excluded, Haidilao's net profit is expected to increase by no less than 10% compared with the first half of 2023.
Haidilao said in the announcement that thanks to the expansion of stores, its revenue and net profit are expected to increase by no less than 65 compared with 2019 before the epidemic9% and 718%。
As of the first half of 2023, the number of Haidilao stores in Chinese mainland has nearly doubled, with a net increase of 644 stores.
According to Lin Wenjia, an analyst at SPDB International, Haidilao's overall turnover rate in December last year has basically returned to the level of the same period in 2019, with 9 new stores added throughout the year and 20 to 30 "hard-boned" stores (that is, stores that were previously closed by the "Woodpecker Project").
On February 21, Haidilao's share price opened low and went high, closing up 159% in 14HK$06 shares.
In 2023, although Haidilao has announced that it will not open new stores before the turnover rate returns to 4, it has made more attempts to expand its store format, and has successively launched "Haidilao Xiafan Hot Pot Dish", affordable hot pot "Hi Lao" and barbecue brand "Yanplease Barbecue Shop" that are suitable for the takeaway business.
Among them, the cost-effective brand Hi Lao is regarded as the main force of Haidilao's expansion in the sinking market. Jiang Xuefeng, an analyst at Huaxing, pointed out that the unit price of Hi Lao customers has dropped by 30% compared with Haidilao stores at 70 yuan to 80 yuan, and the turnover rate of the two stores currently in trial operation in Beijing has exceeded 4 days.
Jiang Xuefeng believes that in the future, Haidilao headquarters will take the lead in the vicinity of first-tier cities and third-tier and below cities, referring to the number of Xiabu Xiabu stores in the third-tier and below markets, and he believes that the Hilao brand has a certain imagination space in the medium and long term.
Trade Winds (ID: tradewind01) asked Haidilao related people about the next step of Hi Lao, and the other party only said that Hi Lao is still in the trial store stage and has no further plans for the time being.
At the store operation level, in addition to participating in the "first-class battle", Haidilao has made great efforts to promote new products.
Trade Winds (ID: tradewind01) learned from relevant people in Haidilao that regional coaches (responsible for managing all Haidilao stores in a region) will be given greater autonomy in 2023, which is directly reflected in the fact that Haidilao has launched more than 300 new products throughout 2023.
For example, Hainan stores have launched "seafood dregs vinegar pot base", Beijing and Northeast regions have launched sauerkraut white meat pot bottoms, Hu spicy soup in Henan, and crayfish fried rice in Suzhou.
This may be the key to Haidilao's "can't learn", and the market expects that in the trend of hot recovery of catering consumption, Haidilao will reuse this ability to other brands such as Hi Lao and more stores.
Wall Street news, welcome **app to see more.