Haidilao reports: Net profit of 4 billion by 2025, takeout sales surge by 111.9%

How Does Doubling Delivery Business Drive Haidilao’s Diversified Layout?

Author | Catering Boss Insider Insider Jun

Haidilao’s 2025,

Revenue of 43.225 billion yuan

On March 24, Haidilao announced its full-year performance for 2025.

In 2025, Haidilao achieved steady revenue growth, with income of 43.225 billion yuan, a year-on-year increase of 1.1%. However, profits have come under pressure. The announcement revealed that Haidilao’s core operating profit was 5.403 billion yuan, a year-on-year decrease of 13.3%; the net profit for the year was 4.042 billion yuan, a year-on-year decrease of 14.0%.

Haidilao stated in the announcement that the decline in profit was mainly affected by a decrease in turnover rates, as well as adjustments in innovation models related to products and scenarios.

As a core business indicator in the hot pot industry, changes in turnover rates directly reflect the operational efficiency of stores. In 2025, Haidilao’s overall turnover rate for self-operated restaurants was 3.9 times/day, a significant drop from last year’s 4.1 times/day, with no relief from this downward trend in first-tier, second-tier, or third-tier and below cities. In contrast, the per capita consumption remained relatively stable.

It is worth mentioning that despite the pressure on turnover rates, Haidilao still maintained a large consumer reach, serving over 380 million customers throughout 2025.

From “Standardization” to “One Store, One Strategy,”

Scenario-based Stores Reshape Competitiveness

In 2025, Haidilao’s main brand scale continued to expand steadily. By the end of the year, Haidilao operated a total of 1,383 restaurants, with the number of franchise stores increasing to 79.

Behind the steady growth is a combined effort of store innovation and product differentiation.

Under the “Different Haidilao” strategy, Haidilao’s “One Store, One Strategy” model tailors stores based on commercial districts and customer demographics, including fresh-cut stores, late-night stores, family-friendly stores, and pet-friendly stores.

As of the end of 2025, over 200 themed store renovations have been completed, among which fresh-cut stores and late-night stores have achieved layouts in key cities nationwide; the orderly implementation of scenario-based stores such as family, pet, and community effectively enhanced the brand’s penetration and customer loyalty in the existing market.

On the product side, Haidilao has launched a “national + regional” dual-wheel drive mechanism for new products, introducing the “Fresh Cut” series of meat dishes, including fresh-cut seafood, fresh-cut beef, fresh-cut chicken, and fresh-cut pork in several categories, while updating seasonally to meet seasonal demands.

At the same time, Haidilao has delegated some product decision-making power to regional levels to enhance the localization adaptability of regional products. By the end of 2025, the cumulative number of regional specialty products exceeded 100, covering all categories such as soup bases, dishes, condiments, and desserts, precisely meeting the diverse preferences of consumers in different regions.

Overall, Haidilao is tailoring different consumer experiences based on local conditions and customer needs.

Sub-brands and Delivery,

Became Haidilao’s Two New “Growth Curves”

Compared to the annual report of 2024, the most striking change for Haidilao is that the income from its main business has decreased in proportion, while the income from sub-brands and delivery has increased.

In other words, Haidilao is starting to see results from its exploration of a second growth curve.

The “Pomegranate Plan” is one of Haidilao’s key focuses for 2025.

The announcement stated that in 2025, the group officially entered a new stage of “multi-brand parallel” group operation, and the “Pomegranate Plan” has shifted from internal incubation to market expansion. By the end of 2025, the group successfully operated 20 sub-brands covering seafood stalls, sushi, Western light meals, small hot pots, and Chinese fast food in segmented fields.

In 2025, Haidilao’s sub-brand revenue reached 1.521 billion yuan, accounting for 3.5% of total revenue, a significant increase from the previous year.

It is noteworthy that in 2025, Haidilao reorganized the rules of the Pomegranate Plan, forming a dual incubation mechanism of “Chef” and “Common Kitchen.”

Among them, the “Chef” system focuses on employee entrepreneurship, while the “Common Kitchen” system is more inclined toward projects incubated and promoted by headquarters. Haidilao expresses its hope to stimulate internal entrepreneurial potential through the “Chef” system and promote multi-category and multi-level market coverage through the “Common Kitchen,” further enhancing the efficiency of collaborative development of entrepreneurial projects.

It is important to note that in the fiercely competitive “delivery war” of 2025, Haidilao’s delivery business revenue surged by 111.9%.

The announcement indicated that Haidilao’s total delivery business revenue was 2.658 billion yuan for the year. The group enhanced its delivery business supply capabilities from four aspects: expanding product categories, store locations, time slots, and channels, completing layouts for over 1,200 delivery points nationwide and collaborating with mainstream delivery platforms.

At the same time, the company is continuously developing new products more suitable for delivery scenarios, optimizing delivery business operation mechanisms, and supporting other brands under the Pomegranate Plan to experiment with delivery business.

Conclusion

Overall, in 2025, Haidilao is facing the common industry pressure of declining turnover rates and profit strain while achieving solid structural adjustments in store scenarios, product systems, and multi-brand matrices. The doubling growth of the delivery business and the continuous expansion of sub-brand revenue indicate that this hot pot giant is no longer solely reliant on the single-engine drive of its main brand.

Haidilao is seeking more flexible, segmented, and consumer-centric ways to find new growth spaces in the existing competitive landscape.

Chief Editor | Xiao Feng

Visuals, Illustrations | Zhang Jinying

Operations | Ice Cream