Financial Services Association, Feb. 21 (Reporter Xu Cihao) After three years of hibernation, the catering industry has finally ushered in a turning point.

The National Bureau of Statistics recently released the latest data showing that in 2023, the country's food and beverage revenue was 5289 billion yuan, up 20.4% year on year; the food and beverage revenue of units above the limit was 1335.6 billion yuan, up 20.9% year on year.

“Recovery” — as a key word in the catering industry this year, is also reflected in the performance forecasts of various listed catering companies.

On the evening of February 20, Haidilao International Holdings Limited (hereinafter referred to as “Haidilao”) issued a positive profit forecast.

According to the announcement, as of December 31, 2023, Haidilao's annual revenue from continuing operations is expected to be no less than RMB 41.4 billion, an increase of not less than RMB 33.3%. Compared with RMB 1.64 billion in 2022 (excluding TEHAI's international business), Haidilao's net profit in 2023 will not be less than RMB 4.4 billion.

This also means that Haidilao's net profit level set a new historical record last year. Previously, the year it recorded the best net profit was 2019, which was 2.56 billion yuan (excluding TEHAI's international business). In the same year, revenue from its continuing operations was 24.94 billion yuan. Compared with 2019, its revenue and net profit increased by 65.9% and 71.8%, respectively.

Regarding the increase in performance, Haidilao explained in the announcement that its revenue growth in 2023 was mainly due to increased passenger traffic and improved store operations due to the recovery of the consumer market; the increase in net profit was mainly due to an increase in the turnover rate of Haidilao restaurants and improvements in operating efficiency. The significant increase in performance compared to 2019 is due to the expansion of the restaurant network.

In addition to financial data, Haidilao's performance on social networks is also very impressive. In November of last year, a store clerk in Qingzhou, Shandong unexpectedly became popular when performing “Subject 3” for customers. Haidilao frequently went out of the market with “fancy stealing people” marketing methods, which attracted the attention of many consumers. For example, Haidilao's actions such as setting up stalls at night markets, providing free shuttle services outside of concerts, and adding shampoo services to stores have all saved Haidilao's popularity among consumers to a certain extent.

It is worth mentioning that a reporter from New Consumer Daily noticed that with the exception of Haidilao, the 2023 financial reports of several listed catering companies have improved markedly compared to the previous year.

Quanjude recently released its 2023 performance forecast, showing that in 2023, Quanjude is expected to turn a loss into a profit, from a loss of 278 million yuan to a profit of 56 million yuan to 66 million yuan. Net profit increased 1.20-1.24 times over the same period last year. This means that an old brand that has been losing money for three years is finally making a profit.

According to the 2023 performance forecast issued by Tongqinglou, the estimated net profit is 272.7893 million yuan to 32023.1 million yuan. Compared with the same period last year, it is expected to increase 179.198 million yuan to 226.325 million yuan, an increase of 191.45% to 242.13% over the previous year. The company expects net profit attributable to the owner of the parent company to be 229.6446 million yuan to 269.5828 million yuan in 2023. Compared with the same period last year, it is expected to increase 155.1025 million yuan to 195.407 million yuan, an increase of 208.07% to 261.65% over the previous year.

However, as consumer companies' performance improved, some institutional investors were selling off.

According to the latest equity disclosure data on the Stock Exchange, on February 14, 2024, Xiabuxiabu was reduced by 3.354 million shares at an average price of HK$1.9075 per share on the market, involving about HK$6.3978 million. After reducing its holdings, BlackRock's latest shareholding was 758.964 million shares, and the shareholding ratio dropped from 7.30% to 6.99%. According to data, since this year, BlackRock's holdings have been reduced by a total of 296.619 million shares, and the number of shares held has been reduced from the previous 107 million shares to 77.5837 million shares.

In addition, data shows that BlackRock has been increasing its holdings in Haidilao until now, and began reducing its holdings in the third quarter. The third and fourth quarters reduced its holdings by 852,900 and 22.353 million, respectively. The number of shares held was reduced from the previous 484.581 million shares to 45.36 million shares.

“BlackRock's holdings reduction should be said to be due to its own considerations, and it is impossible to own a stock for a long time.” Chinese food industry analyst Zhu Danpeng analyzed to the New Consumer Daily reporter that the characteristics of capital investment are short and easy, and when this company's stock meets expectations, they will choose to cash out and reduce their holdings.