Consumption drive warms hotpot

Staff reporter

Chinese hotpot giant Haidilao International (6862) saw its net profit increase 4.6 percent from a year earlier to 4.7 billion yuan (HK$5.04 billion), driven by a series of policies rolled out by the Chinese government to stimulate food and beverage consumption.

The board proposed a final cash dividend of 50.7 HK cents per share, down about 38.5 percent from a year earlier.

Revenue grew by 3.1 percent year-on-year to 42.75 billion yuan.

The average table turnover rate rose to 4.1 times per day in 2024 from 3.8 times in 2023. Customer visits throughout the year climbed 4.5 percent year-on-year to 415 million.

Super Hi International (9658), which operates Haidilao overseas, recorded a net profit of US$21.8 million (HK$170.04 million) last year, down 15 percent from the previous year, citing foreign exchange fluctuations.

Revenue came in at US$778.3 million last year, rising 13.4 percent from US$686.4 million in 2023.