China Food

“Hot pot double heroes” become brothers and sisters

seabottom fishing and Xiabu Xiabu both suffered huge losses.
It’s like an appointment. On the evening of the 14th, Haidilao and Xiabu both issued mid-term performance warning announcements, and “hot-pot/" 22375 rel="nofollow" target="_self">hot pot” became a pair of “brothers and sisters”.
In 2021, the floodgates of their losses will be opened and they will be out of control. Closing the store to stop the loss and changing the generals have become a unified action. The effect remains to be tested by time.
Huge loss
The capricious epidemic continues to impact offline physical businesses, especially the catering industry. Wang Haidilao in line can’t bear the pain. It’s needless to say that Xiabu Xiabu.
According to the announcement, in the first six months of this year, the estimated income of Haidilao (06862. HK) was not less than 16.7 billion yuan, a decrease of about 17.0% over the 20.1 billion yuan in the same period of last year; The expected net profit loss is 225 million yuan – 297 million yuan, and the profit in the same period of last year is 97 million yuan.
According to the analysis of the company, the main reason for the loss in the current period is the closure of some stores under the “woodpecker plan” and the one-time loss and impairment loss on the disposal of long-term assets caused by the epidemic, totaling 255 million yuan to 327 million yuan. According to this calculation, excluding the influence of the above factors, the main business of Haidilao in the first half of this year was marginally profitable.
In the profit warning announcement, Haidilao did not forget to release good news to the outside world: with the easing of the epidemic, the company’s restaurant operation has improved significantly on a monthly basis since June.
Let’s look at Xiabu Xiabu (00520. HK). The scale is far less than that of Haidilao, but the loss is not less than that of Haidilao. The company estimates that the revenue in the first half of this year will be about 2.16 billion yuan, a decrease of about 29% over the same period of last year; Compared with the net profit of – 47 million yuan in the same period of last year, the loss increased significantly, and is expected to be – 270 million yuan to – 290 million yuan.
The company mainly attributed the deterioration of its operation to the impact of the epidemic, which caused the restaurants in most areas to be unable to fully operate. There are 116 cities where the company operates, 92 of which are affected, accounting for 79%. Among them, Beijing, Shanghai, Shenzhen, Tianjin and other first tier cities are particularly affected.
In this regard, Xiabu Xiabu seems to have no better way. It can only use its own brand advantages to communicate with the restaurant lessor to seek rent reduction or exemption.
Even under such circumstances, Xiabu Xiabu did not forget to continue to expand. From January to June, 21 new restaurants were opened, and 100 new restaurants are expected to be opened throughout the year.
In the past, Xiabu Xiabu’s focus was in the north, resulting in an unbalanced operation layout. The company plans to implement the strategy of “entering the East and expanding the South”. In the next three years, East China and South China will be the key expansion areas.
Although the performance of the “hot-pot/" 22375 rel="nofollow" target="_self">hot pot” is not satisfactory, thanks to the overall active performance of Hong Kong stocks, catering, tourism and other consumer stocks yesterday, Haidilao once soared by nearly 10% in the morning trading, and its share price reached a new high in more than one month. Finally, it was 1
In April of that year, Zhang Zhenwei, the gold medal manager of the catering industry and the CEO of Keke hotpot, resigned, which made the development of Keke and the second growth pole of Xiabu become confusing.
Soon, it was reported that Zhang Zhenwei had received an angel investment of 150 million yuan from Sequoia Capital and would start his own business in the catering industry. At the end of that year, the “thank you pot” created by him was born, and a strong competitor appeared in the hot-pot/" 22375 rel="nofollow" target="_self">hot pot industry.
Just as the outside world expressed regret for Zhang Zhenwei’s departure, Xiabu Xiabu took another step to remove and replace Zhao Yi, the director and chief executive officer of the company. The capital market was in an uproar. He Guangqi, the founder of the company, is the chairman of the board of directors and the CEO.
The reason for dismissing and dismissing Zhao Yi is that the performance of some sub brands of the group did not meet the expectations of the board of directors, and their management methods and concepts were significantly different from those of other members of the board of directors. Their continued participation in the management of the company was not in the best interests of the company and its shareholders. Immediately, Zhao Yi countered with an open letter, saying that there were different opinions on corporate governance, which touched the interests of he Guangqi, the actual controller of the company and chairman of the board of directors, and led to bad relations between the two sides.
Before joining Xiabu Xiabu, Zhao Yi had 20 years of experience in accounting, corporate financing and business management in multinational enterprises such as Pepsi, Unilever, Sony Ericsson and McDonald’s. In November 2012, he Guangqi strongly invited her to be the chief financial officer of Xiabu Xiabu, which is one of the important heroes on the company’s way to listing.
In the end, it was too disrespectful for both sides to make such a mess.
In contrast, Haidilao’s personnel changes were accomplished in one go.
In August 2021, Shi Yonghong and Shu Ping (wife of Zhang Yong), the founding shareholders of the company, both resigned as directors, and a group of young people who grew up from the grass-roots level were appointed as new executive directors.
In March of this year, Zhang Yong resigned from the post of CEO of the company and handed the staff to Yang Lijuan, 43, the “best waiter”. Li Yu, 36, and Wang Jinping, 38, were appointed as the chief operating officer of Chinese Mainland, the chief operating officer of Hong Kong, Macao, Taiwan and overseas regions respectively, becoming Yang Lijuan’s right arm.
He Guangqi’s centralization of power and Zhang Yong’s separation of power can not be judged for the time being. The final result will explain everything.
Author: Fan Jian; Source: Zebra consumption (ID: banmaxiaofei), reprinted with authorization.
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