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Haidilao cooks up profits with store-slimming ‘woodpecker plan’

China’s top hotpot chain returned to profitability last year by shuttering underperforming stores, reversing an earlier expansion that was overly aggressive

This article only represents the author's own views.

Last year was an appetite-killer for Chinese restaurant operators, as many struggled under the country’s tight anti-Covid policies that often forced them to close or reduce service for weeks or even months at a time. But every cloud has a silver lining, and at least one dark horse has emerged from this period as a renewed star shining, all clichés aside.

That dark horse, or perhaps re-polished cauldron is more apt, is none other than Chinese hotpot chain Haidilao International Holding Ltd. (6862.HK).

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咏竹坊

咏竹坊(官网链接)提供在香港和美国上市的manbetx3.0 企业相关新闻,重点关注中小企业和筹备上市的公司。

Bamboo Works (official website) provides news on Chinese companies listed in Hong Kong and the United States, with a strong focus on mid-cap and also pre-IPO companies.

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