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Haidilao takeaway sales surge as single-serving demand climbs

Takeaway revenue rose to 2.05 billion yuan in the first six months, lifting the segment to 9.2% of total revenue from 4.5% a year earlier.

Reported · Written up by our desk · Emerging Markets

Haidilao International Holding said takeaway has become its fastest-growing sales channel, as demand for single-serving meals such as rice-bowl sets increased alongside first-half revenue and profit growth, according to its interim results released Tuesday evening.

Takeaway revenue reached 2.05 billion yuan (about US$305 million) for the six-month period, up 121.2% year on year. The segment accounted for 9.2% of total revenue, compared with 4.5% a year earlier.

For the first half, the Hong Kong-listed group reported total revenue of 22.34 billion yuan, up 7.9% year on year. Net profit rose 0.5% to 1.77 billion yuan.

Morningstar equity research director Ivan Su said China’s restaurant market is highly fragmented, noting chains hold roughly 20% of the market in China versus around 40% globally, which can allow well-run operators like Haidilao to gain share even in a softer macro environment. The outlet also reported that dine-in customers spent an average of 97 yuan, roughly unchanged from a year earlier.

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