Haidilao International experienced a sharp market rally, with its shares climbing more than 7% in Hong Kong following the release of its solid first-half financial performance. The Chinese hotpot giant posted a 7.9% year-on-year rise in overall revenue to 22.34 billion yuan ($3.32 billion) for the six months ending in June, while core operating profit climbed 4.4% to reach 2.51 billion yuan.

A key catalyst behind the company’s strong momentum was the explosive expansion of its delivery ecosystem. Revenue generated through delivery channels jumped 121.2% year-on-year to hit 2.05 billion yuan. This massive growth was largely driven by rising consumer demand for single-serving fast-food options and the strategic rollout of localized delivery hubs to optimize fulfillment speed.

Simultaneously, Haidilao is diversifying beyond its traditional flagship dining rooms through its strategic “Pomegranate Plan.” Revenue from alternative restaurant operations surged 113.1% to 1.27 billion yuan, bolstered by unique experiential offerings like late-night dining and camping-style hotpot. Having validated single-store economic models for concepts such as food-stall hotpot and sushi, the group is transitioning these brands into a phase of large-scale replication starting in the second half of the year.

While flagship Haidilao-branded restaurant sales eased slightly by 4% to 17.84 billion yuan amid a minor consolidation of self-operated venues, the company continues to run 1,389 core hotpot locations alongside 183 restaurants across 21 emerging culinary brands. Market analysts noted that operating margins exceeded expectations, forecasting that scaled multi-brand expansion and accelerated restaurant openings will provide strong tailwinds through 2027.

Key Takeaways

• Haidilao shares jumped over 7% in Hong Kong after reporting a 7.9% increase in first-half revenue to 22.34 billion yuan.
• Delivery revenue more than doubled, soaring 121.2% to 2.05 billion yuan on strong demand for single-serving fast-food meals.
• The multi-brand 'Pomegranate Plan' drove a 113.1% surge in secondary restaurant revenue, preparing new formats for large-scale replication.

Editor’s Analysis & Impact

Haidilao’s latest performance signals a well-timed strategic pivot from a single-format hotpot chain into a resilient, multi-brand catering enterprise. By capitalizing on off-premise dining and single-diner demographics, the company has effectively cushioned the impact of slower in-store foot traffic. Furthermore, the rapid growth under the ‘Pomegranate Plan’ showcases strong operational agility, allowing Haidilao to incubate niche formats—such as sushi and fast-casual hotpot—that demand less capital expenditure. Moving forward, the critical test will be the company’s ability to maintain its renowned customer service standards while scaling these diverse brands simultaneously. If executed efficiently, this multi-pronged model could set a blueprint for modern casual dining resilience in competitive Asian markets.

Frequently Asked Questions

Q: What drove the sharp rise in Haidilao's share price?
A: Investor optimism was fueled by strong first-half earnings, headlined by a 121.2% surge in delivery revenue and rapid progress in scaling new restaurant formats.

Q: What is Haidilao's 'Pomegranate Plan'?
A: The 'Pomegranate Plan' is Haidilao's initiative to incubate and scale diverse catering concepts beyond traditional hotpot, including single-serving meals, sushi, food-stall formats, and experiential dining.

Q: How did Haidilao's flagship hotpot restaurants perform?
A: Revenue from flagship Haidilao-branded restaurants fell slightly by 4% to 17.84 billion yuan, primarily due to a minor reduction in self-operated store count, though it still generated nearly 80% of total group sales.