On August 20, Haidilao International Holding, the first brother of hot pot, released his financial results for the first half of 2019 after the Hong Kong stock market.

The financial report shows that:

• Haidilao International Holding's revenue in the first half of the year was 11.69 billion yuan, an increase of 59.2% over the same period last year; EPS in the first half of the year was 0.17 yuan; and the net profit attributable to shareholders in the first half was 911 million yuan, compared with 646 million yuan in the same period last year.

• Number of stores:130 new restaurants opened in the first half of 2019The global network of stores grew from 466 on December 31, 2018 to 593 on June 30, 2019, of which 550 are in Chinese mainland's 116 cities.

• Turn-over rate:The overall average turnaround rate (times / day) fell from 4.9 in 2018 to 4.8 in 2019. Restaurants in second-tier cities have the highest turnaround rate, reaching 5.0 times.

• Guest unit price:The per capita consumption of customers increased from 100.3 yuan to 104.4 yuan. Among them, per capita in first-tier cities increased from 106 yuan to 110 yuan.

• Restaurant operating incomeIt is the company's main source of income, accounting for 96.9% of the total revenue in the six months ended June 30, 2019, an increase of 58.4% over the same period last year to 11.3314 billion yuan, mainly due to the opening of 259 new restaurants in the second half of 2018 and the first half of 2019.

  Revenue from takeout businessIt rose from 133 million yuan in the six months ended June 30, 2018 to 187.9 million yuan in the same period in 2019, an increase of 40.9%, mainly due to an increase in the number of takeout orders.

• Company'sSame-store salesIt rose from 6.0427 billion yuan in the six months ended June 30, 2018 to 6.328 billion yuan in the same period in 2019, an increase of 4.7 percent. The per capita consumption of customers rose from 100.3 yuan in the six months ended June 30, 2018 to 104.4 yuan in the same period in 2019.

• In additionFinancial costIt rose from 8.8 million yuan in the six months ended June 30, 2018 to 102 million yuan in the same period in 2019, an increase of 1064.1%, mainly due to the increase in interest costs caused by the first application of IFRS 16.

Institutional expectation

According to a comprehensive opinion given by Bloomberg analysts, Haidilao International Holding's adjusted EPS in the first half of the year was 0.19 yuan, revenue was 11.745 billion yuan, adjusted net profit was 1.032 billion yuan, and net profit before interest, tax, depreciation and amortization was 1.963 billion yuan.