Based on the overall operation of the restaurant, Haidilao launched the Woodpecker Program in 20021110/0. By the end of 20021,260 restaurants in Haidilao had been closed permanently and 32 restaurants were temporarily closed for rest. In the case of promising not to lay off employees, the number of employees in Haidilao remained stable. Judging from the operation since 2022, the effect of the "Woodpecker Plan" in Haidilao is emerging, and the transaction rate data has improved.
In addition to paying attention to the improvement of internal management efficiency through the "Woodpecker Plan", Haidilao has also changed its strategy and adjusted its new concept and rhythm in the field of product innovation. At the same time, from the new generation of consumer demand, diversified business development, creating a series of explosive products around, attracting passengers and enhancing user stickiness. At present, the scale of registered members of Haidilao has exceeded 1 100 million.
The track "leader", the revenue growth rate outperformed the industry.
The announcement shows that in 20021year, the marine fishing income was 4 1 1. 1 billion yuan, an increase of 43.7% compared with 2020; The loss attributable to shareholders was 46,543.8+0.6 billion yuan, which was lower than the upper limit of 4.5 billion yuan estimated in the profit warning announcement previously issued by the company. Among them, 2026,5438+0 disposed of the one-time loss and impairment loss of long-term assets, and the impairment loss accrued by the management in a prudent manner exceeded 3.65 billion yuan.
According to the Big Data Report of China Hotpot Industry in 2022, the total revenue of China Hotpot Market is also rising, reaching 521800 million yuan in 20021year, an increase of 19.6438+03% compared with 2020. In terms of market share, Haidilao is still the "leader" of the hot pot track, and its income growth rate outperforms the industry level.
202 1, the overall average turnover rate of Haidilao restaurant is 3.0 times/day, and that of the same store is 3.5 times/day. Compared with the first half of 20021,the overall and same-store turnover rates were 3.0 times/day and 3.4 times/day, which were basically the same, indicating that Haidilao's operation remained stable in the second half of the year under the influence of epidemic situation, store closure and other factors.
Based on the overall operation of restaurants, Haidilao decided to adjust its expansion strategy on 20021,close some restaurants, and plan to appropriately reduce future capital investment. According to the data, in 20021year, 42 restaurants were opened and 276 restaurants were closed in Haidilao, of which 16 restaurants were closed due to the expiration of the lease. As of 202 1, 12 and 3 1, Haidilao has 1443 stores in the world, of which 1329 are located in Chinese mainland, and 1 14 are located in Hong Kong, Macao and other countries.
Regarding the business performance of the past year, Haidilao announced that 202 1 was a challenging year. As far as external environment is concerned, the epidemic situation in novel coronavirus has been repeated from time to time, and there are still many uncertainties in the future. According to the data of the National Bureau of Statistics, in 20021year, the national catering revenue was 4,689.5 billion yuan, which turned from negative to positive 18.6% over the previous year, with an average decrease of 0.5% in two years, and has not recovered to the level of 20 19 before the epidemic.
In terms of internal governance, Haidilao believes that the rapid expansion strategy in the past two years has rapidly expanded the company's scale and made management more difficult. Therefore, on 202 1, 1 1, Haidilao launched "Woodpecker Plan", which took measures such as closing some stores, promoting and polishing store management system, rebuilding and strengthening functional departments, emphasizing corporate culture, and improving employee training.
"Woodpecker Plan" achieved initial results, and the number of employees remained stable.
The Woodpecker Project in Haidilao has attracted much attention since it was launched on 202 1 and1. According to the announcement, as of 202 1, 12, 3 1, 260 restaurants in Haidilao have been permanently closed down under the Woodpecker Project, and 32 restaurants have been temporarily closed for rest. Haidilao said that the affected employees had the opportunity to continue working in the group and were not laid off because of the restaurant's closure. According to the data, as of 202 1 12 3 1, the number of employees in Haidilao is 146584.
In the store management system, the woodpecker in Haidilao plans to restore the regional management system. At present, there are 15 regional managers in Haidilao, who are responsible for store operations in various regions at home and abroad, and for coordinating store expansion, engineering, pricing and store rating within their respective jurisdictions. The regional manager has a family leader who is in charge of the shops under his jurisdiction. The original regional manager position and the family leader position were merged. The head of the family not only shoulders the responsibility of selecting and training store managers and transmitting corporate culture, but also shoulders the responsibility of supervising and guiding the management and operation of shops within the family.
Regarding the establishment of talent echelon, Haidilao said that in the adjustment of organizational structure, the responsibilities and incentive system of each post were sorted out, which provided clear guidance for the development of employees, and based on the tutorial system, the responsibilities and obligations of front-line service teams, stores, families and other system members were clarified. At the same time, in strengthening the functional departments, each functional department sorted out their respective job descriptions and responsibilities, and negotiated with parents and store managers the measures to be taken, forming a synergistic effect between the front and the back.
Haitong Securities Research Report believes that the strategic contraction effect of Haidilao has begun to show, and the turnover rate has increased month on month. As of February 20th, 2022, the turnover rates of 65438+200m2 1-2M22 were 3.9/2.5/2.9/3.0/4.0 times/day, and the turnover rates of 12M2 1 m22 were respectively.
Morgan Stanley also pointed out that compared with 2002 1,1and 12, the operating conditions of Haidilao stores in1and February this year continued to improve, which was attributed to the integration of stores and the improvement of operating efficiency brought about by the Woodpecker Plan. The recent appointment of senior managers shows that Haidilao is making further efforts to monitor and supervise the operation of the store through experienced managers, and constantly improve the operational efficiency.
On March 1 day, 2022, Haidilao announced the appointment of management personnel, and Yang Lijuan, 43-year-old deputy CEO and chief operating officer, was transferred to CEO to supervise the management and strategic development of the group and continue to be responsible for the implementation and promotion of the woodpecker plan; Li Yu, 36, is the chief operating officer of Haidilao in Chinese mainland, and Wang Jinping, 38, is the chief operating officer of Hong Kong, Macao and Taiwan and overseas regions. They will help the CEO to improve the operational efficiency in different regions of the Group and strengthen the supervision and implementation of the company's management and implementation.
New strategic changes in products, diversified development and display layout
The adjustment of the new strategy in Haidilao products is also one of the ways for Haidilao to seek changes and change its operation that is not up to expectations. Since New Year's Day in 2022, Haidilao has changed the previous practice that single products and single stores are scattered and gradually spread to the whole country, promoted product innovation from the national and regional dual systems, and made all-round innovation from the bottom of the pot, dishes, snacks and experiences, and maintained a new rhythm at least twice a year throughout the country. Consumption data shows that only during the Spring Festival holiday, the sales volume of Haidilao's new authentic spicy pot exceeded 800,000, second only to the signature tomato pot at the bottom of the pot.
In fact, 202 1, Haidilao also has many new explosions. In August of 20021year, Seabuckthorn Hot Pot was launched in Haidilao. While innovating the taste of products, the activity of "eat one pot and plant a tree" was put forward. The data shows that seabuckthorn hot pot has covered thousands of Haidilao stores in more than 270 cities across the country. By mid-February 2022, more than 800,000 seabuckthorn trees had been donated.
Similar cross-border gameplay is undoubtedly the best way to attract young passengers. In recent years, with the rise of consumption power of "Generation Z", its characteristics of pursuing independent personality and paying attention to experience have attracted more and more attention from the commercial market. 202 1, Haidilao also launched a series of peripheral products, such as lipstick, earrings and toys, which proves that it is also expanding the boundary of the scene, hoping that the concept of "Haidilao can catch anything" will gradually take root in people's hearts, thus increasing users' stickiness and stabilizing the development foundation.
The data shows that this style of play by Haidilao is effective. On March 20, 2022, Haidilao held the third Haidilao Powder Festival, announcing that online registered members exceeded 1 100 million. In order to cooperate with the powder fishing festival, Haidilao said that it also launched a series of blind boxes such as "Accompanied Xiaoyan-Eggplant Star" and several episodes (NFT) Xiaoyan blind boxes.
Before the Spring Festival, Haidilao cooperated with the theme of the Year of the Tiger, and launched warm tiger tiger tiger plush satchel and soft tiger tiger tiger diagonal satchel, which were sold out as soon as they went online in the member mall. Not only peripheral products, but also some self-owned brand products are recognized by the market. Take Haidilao's own brand drinks as an example. 202 1 accounts for 66.8% of the total beverage revenue, and the sales of Haidilao beer alone exceeds 250 million yuan.
The development of diversified business has promoted the cost of raw materials and consumables for Haidilao. The data shows that the cost increased from 654.38+0.226 billion yuan in 2020 to 654.38+0.798 billion yuan in 2026.438+0, an increase of 46.6%. The cost of raw materials, especially the purchase of agricultural products, plays a positive role in promoting rural revitalization, thus stimulating economic and consumption development. Taking 160 key counties for rural revitalization announced by the State Council as an example, Haidilao's agricultural products procurement has covered more than 10 counties. Only Aba County and Ganzi County in Sichuan Province are expected to purchase 2000 tons of Sanqing bamboo shoots every year, and Yuanyang County in Yunnan Province is expected to purchase fresh rice pepper 1.800 tons every year.