Haidilao International (6862) investor relations material

Executive summary

• Revenue for the first half of 2025 was RMB20,703.3 million, down 3.7% year-over-year, with profit for the period at RMB1,754.6 million, a 13.7% decrease, mainly due to lower table turnover and initial adjustments to new business models.

• Core operating profit (non-IFRS) was RMB2,408.1 million, down 14.0% year-over-year.

• Management is focused on improving operational efficiency, deepening differentiated services, and advancing multi-brand and digital strategies.

• The period saw intensified competition and evolving consumer needs, impacting table turnover and guest visits.

• Interim dividend of HK$0.338 (RMB0.309) per share declared.

Financial highlights

• Haidilao restaurant operation revenue was RMB18,580.2 million, accounting for 89.8% of total revenue, down 9.0% year-over-year.

• Delivery business revenue increased 59.6% to RMB927.6 million, driven by growth in single-serving fast food.

• Other restaurant revenue rose 227.0% to RMB596.5 million, reflecting success of new brands under the “Pomegranate plan.”

• Raw materials and consumables used were RMB8,243.5 million, 39.8% of revenue; staff costs were RMB6,988.0 million, 33.8% of revenue.

• Depreciation and amortization decreased 13.7% to RMB1,155.9 million.

• Net cash from operating activities was RMB2,626.2 million; cash and cash equivalents at period end were RMB4,756.1 million.

• Basic and diluted EPS were RMB0.32, down from RMB0.38 in 2024.

Outlook and guidance

• Management remains confident in long-term prospects, focusing on enhancing the dining experience, digital transformation, and multi-brand expansion.

• Plans include further franchise development, strategic acquisitions, and continued implementation of the “Woodpecker” and “Pomegranate” plans.