Gelonghui, January 2 | China Merchants Securities released a research report saying that it was the first to give Tehai International an “increase” rating. It is expected to achieve operating income of US$6.9/8.4/98 billion in 2023-25, and achieve net profit of US$0.24/0.48/65 million US dollars. As the representative target of Chinese food going overseas, Tehai International's main brand is Haidilao, a leading domestic restaurant. Due to its early layout in overseas markets and the formation of a good brand reputation and recognition internationally, the multinational management and management system leads the industry. With the accumulation of the company's brand power, maturity of the supply chain, and gradual improvement of product localization in the future, regional store expansion is expected to accelerate. The single-store model has extensive room for optimization, and the prospects for long-term opening are broad.