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CHEWYEE
2021-07-27

The stock prices of Haidilao and Xiabuxiabu have halved in half in half a year. Do hot pot giants still have a chance?

火锅品牌的火热离不开两个原因——社交和连锁化。火锅巨头们最近的日子过的似乎不太顺心， 7月26日受到港股波动影响，海底捞股价一度暴跌20%、呷哺呷哺股价也蒸发超过13%，九毛九的股价也一度跌过9%

The stock prices of Haidilao and Xiabuxiabu have halved in half in half a year. Do hot pot giants still have a chance?

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{"i18n":{"language":"en_US"},"data":{"magic":2,"id":803997052,"tweetId":"803997052","gmtCreate":1627399755576,"gmtModify":1703489283737,"author":{"id":3585489254246862,"idStr":"3585489254246862","authorId":3585489254246862,"authorIdStr":"3585489254246862","name":"CHEWYEE","avatar":"https://static.tigerbbs.com/fdea465dfc09b9e189354cbc8ae5bfa9","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":9,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body>?</body></html>","htmlText":"<html><head></head><body>?</body></html>","text":"?","highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/803997052","repostId":1113885707,"repostType":4,"repost":{"id":"1113885707","kind":"news","pubTimestamp":1627397920,"share":"https://ttm.financial/m/news/1113885707?lang=en_US&edition=fundamental","pubTime":"2021-07-27 22:58","market":"hk","language":"zh","title":"The stock prices of Haidilao and Xiabuxiabu have halved in half in half a year. Do hot pot giants still have a chance?","url":"https://stock-news.laohu8.com/highlight/detail?id=1113885707","media":"有牛财经","summary":"火锅品牌的火热离不开两个原因——社交和连锁化。\n\n火锅巨头们最近的日子过的似乎不太顺心，\n7月26日受到港股波动影响，海底捞股价一度暴跌20%、呷哺呷哺股价也蒸发超过13%，九毛九的股价也一度跌过9%","content":"The popularity of hot pot brands is inseparable from two reasons-socialization and chain. The hot pot giants don't seem to be having a good time recently.Affected by fluctuations in Hong Kong stocks on July 26,<a href=\"https://laohu8.com/S/06862\">Haidilao</a>The stock price once plummeted 20%,<a href=\"https://laohu8.com/S/00520\">Xiabuxiabu</a>The stock price has also evaporated by more than 13%,<a href=\"https://laohu8.com/S/09922\">Jiu Mao Jiu</a>The stock price also fell by more than 9% at one point. Of course, it is not only catering stocks that are affected by this fluctuation in Hong Kong stocks. The problems of Haidilao and Xiabuxiabu themselves have deepened the impact of this fluctuation.Before the stock price evaporated, Haidilao had just released its performance forecast for the first half of the year. Although it successfully turned losses into profits, its performance still did not meet the expectations of institutions. On the other hand, Xiabuxiabu has not been able to solve the aftermath of the expulsion of senior executives, and is still entangled with former CEO Zhao Yi. In comparison, Jiumaojiu's life is fairly comfortable.When the hot pot giants are in a period of pain, the entire catering industry is in full swing, especially the new tea drinking track that has attracted much attention recently. Michelle Bingcheng, Heytea, Guming, and Ningji have successively received financing,<a href=\"https://laohu8.com/S/02150\">Nayuki's tea</a>Already listed in Hong Kong; Even the barbecue track has become a hot cake in the eyes of investors. Recently, Yongdingmen Electric Skewers has completed an angel round financing of tens of millions of yuan, as well as Kuafu Skewers, Long Ago and other brands.With the overall industry upward, how should the hot pot giants solve the cold situation?\"Self-inflicted\" Haidilao and XiabuxiabuJudging from the recent experiences of various brands, both Haidilao and Xiabuxiabu are a bit \"self-inflicted\".Judging from the interim performance forecast released by Haidilao, Haidilao is expected to have a revenue of about 20 billion yuan in the first half of this year and a net profit of between 80 million yuan and 100 million yuan. Compared with the loss of 965 million yuan in the first half of last year, there is no doubt that it turned around. However, despite the overall hot catering industry, Haidilao's performance in the first half of the year failed to meet the expectations of the organization, which directly led to the stock price of the entire Hong Kong stock hot pot company.You must know that Haidilao's net profit in the first half of 2019 exceeded 900 million. Especially with the gradual control of the epidemic in China and the good recovery momentum of the overall industry, Haidilao's achievement is obviously a bit unreasonable. Haidilao's performance after the epidemic The sluggish performance directly led to the continuous decline of stock prices, evaporating by more than 60% in half a year.The reason is that Haidilao's downturn is mainly due to the company's strategic mistakes. Last year, it chose the strategy of accelerating and running wildly. The number of new stores opened throughout the year reached 544, but the direct consequence of this is the sluggish performance. On the one hand, the accelerated opening of stores directly leads to the increase of Haidilao's cost, and even the most valued table turnover rate in the catering industry is not as good as before.<img src=\"https://static.tigerbbs.com/b53e8cb53c93164d80f6dd793830b91e\" tg-width=\"1762\" tg-height=\"1118\" referrerpolicy=\"no-referrer\">Picture from Xiabuxiabu official websiteEven Zhang Yong, CEO of Haidilao, publicly stated before: \"The main problem with the decline in Haidilao's performance is internal management. The store expansion plan I set last year now seems to have problems, but when I responded, it was already this year. It's March\".Affected by the plunge in Haidilao's stock price, the stock prices of other listed players in the hot pot track also began to fluctuate, especially Xiabuxiabu, which has high-level turmoil and dismal performance. Whether it is the resignation of Coucou CEO Zhang Zhenwei or the company's unilateral dismissal of CEO Zhao Yi has severely affected its stock price.Similar to Haidilao, Xiabuxiabu's performance in recent years has not been satisfactory. It has been declining since 2018, and its net profit and turnover rate have continued to decline. Especially in 2020, Xiabuxiabu's net profit decreased by 99.4% year-on-year. At the same time that Haidilao drove the stock price of hot pot stocks to decline as a whole, Zhao Yifa issued an announcement asking Xiabuxiabu to give an explanation for its attempt to remove its executive director, and even asked the outside world to intervene. Various reasons made Xiabuxiabu's stock price higher than Jiumaojiu was more affected.As far as the current situation is concerned, Zhao Yi's impact on Xiabuxiabu will continue for some time. If the problem cannot be solved for a long time, Xiabuxiabu's life may be even more difficult under the turmoil of the military morale.The plight of Haidilao and Xiabuxiabu is nothing more than their decision-making mistakes or internal problems of the company. However, if we look at the entire industry, hot pot is still a star in the catering industry. For example, it was reported last month that Banu, a hot pot chain brand focusing on hairy belly, is completing a financing of more than 500 million yuan.Why is hot pot so hot?The popularity of hot pot brands is inseparable from two reasons-socialization and chain.On the one hand, compared with most catering tracks, hot pot restaurants pay more attention to social interaction, especially the prices of hot pot restaurants today are generally not low. If it is not for dinner gatherings, ordinary consumers will rarely eat hot pot alone, especially the current hot pot brands While maintaining the taste, it also started marketing, such as Haidilao.Under the aura of fashion, convenience and good experience, hot pot is especially favored by young women. According to data from the Huajing Industrial Research Institute, young women are still the main force in hot pot consumption. In 2020, female consumers accounted for 57.1%, while male consumers lagged slightly behind, only 42.9%.On the other hand, it is easier to chain hot pot. Compared with traditional catering enterprises that need to check the taste of dishes, hot pot brands that only need to pay attention to ingredients and pot bottoms, the road to become bigger and stronger is the continuous construction of the supply chain, which only needs to be laid out from procurement, processing, warehousing, logistics and other links. Fresh enough ingredients can become a strong background support for each hot pot restaurant. The most typical example is Haidilao.<img src=\"https://static.tigerbbs.com/427ed6a04f9b6d37c929e87d8eb7a00a\" tg-width=\"800\" tg-height=\"533\" referrerpolicy=\"no-referrer\">Images from Canva Paintable H ả i Nguy ễ nAccording to public information, Haidilao's supplier is its related party Shuhai Supply Chain, which has multiple raw material bases, food processing centers, and base material processing centers. In addition, Xiabuxiabu, Xiaolongkan, Dezhuang, Banu and other hot pot brands either adopt the central kitchen model or cooperate with third-party suppliers.In the final analysis, the taste of hot pot is universal enough, and various pot bottoms such as mushroom soup, spicy food and tomato can meet the needs of a variety of people. If there is a mature supply chain as the support, the products are controllable enough and the service is not bad, the consumer experience is sufficiently guaranteed, and the gradual maturity of the management system in recent years has strengthened the brand's control over chain stores.The differentiation from traditional catering companies has made hot pot the darling of capital, and many star hot pot restaurants have also come from it. However, with the increasing diversification of hot pot catering categories, especially after COVID-19 pandemic, the chain of the catering industry Under the tide, the chain degree of the hot pot industry has further increased, and the competition has become more and more fierce. So does Haidilao still have a chance to return to its peak?Can Haidilao, which has opened stores too hard, recover?Judging from the current environment, it is not impossible for Haidilao to climb to a new peak again.It is undeniable that before 2020, Haidilao's profitability was one of the best in the catering industry. Whether it is revenue, profit or turnover rate, it far exceeds that of its peers. This also makes Haidilao unanimously optimistic from the outside world. Coupled with the market's welcome to leading companies, Haidilao's stock price, as a leader in catering, is like a hydrogen balloon on the wind, all the way up, but this also causes Haidilao's stock price to dive from its highest point in February this year when it continues to encounter problems.However, when the bubble dissipates, the test of Haidilao really begins. As mentioned above, the main problem of Haidilao is the ugly performance caused by opening a store against the trend last year. Haidilao is currently in the integration period of new stores. There are still certain problems in management. If the time is extended for one or two years, the situation of these stores may be much better.<img src=\"https://static.tigerbbs.com/3f759f507680c4285fffb8495c2b6588\" tg-width=\"647\" tg-height=\"467\" referrerpolicy=\"no-referrer\">Image from Haidilao official websiteIn order to realize the integration of new stores as soon as possible, Haidilao is also adjusting its organizational structure. according to<a href=\"https://laohu8.com/S/601788\">Everbright Securities</a>According to the news, in order to improve the efficiency of store management, Haidilao is currently restoring the model of large communities and enhancing refined management. If this goal can be achieved, Haidilao's performance may even reach a higher level.However, compared with Haidilao, which is in pain, Jiumaojiu, Banu and other hot pot peers have a good life. Although Jiumaojiu's stock price has also been affected by the decline in Hong Kong stocks, from the overall situation of the company, Compared with Haidilao and Xiabuxiabu, Jiumaojiu's performance is relatively stable, and it is still opening up new growth. For example, Jiumaojiu's new brand restaurants such as Taier Restaurant and Taier Prequel, affected by this factor, the organization is still optimistic about Jiumaojiu's prospects.<a href=\"https://laohu8.com/S/601995\">CICC</a>Even gave an overweight rating on July 25.Faced with the covetous eyes of brands such as Jiumaojiu and Banu Hotpot, Haidilao CEO Zhang Yong also said in an interview earlier this year that after the performance of these stores matures, Haidilao will continue to expand, but with Last year's lessons from the past, how should Haidilao's expansion proceed?","source":"lsy1604323531668","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The stock prices of Haidilao and Xiabuxiabu have halved in half in half a year. 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Do hot pot giants still have a chance?\n</h2>\n<h4 class=\"meta\">\n\n有牛财经2021-07-27 22:58\n\n</h4>\n</header>\n<article>\nThe popularity of hot pot brands is inseparable from two reasons-socialization and chain. The hot pot giants don't seem to be having a good time recently.Affected by fluctuations in Hong Kong stocks on July 26,<a href=\"https://laohu8.com/S/06862\">Haidilao</a>The stock price once plummeted 20%,<a href=\"https://laohu8.com/S/00520\">Xiabuxiabu</a>The stock price has also evaporated by more than 13%,<a href=\"https://laohu8.com/S/09922\">Jiu Mao Jiu</a>The stock price also fell by more than 9% at one point. Of course, it is not only catering stocks that are affected by this fluctuation in Hong Kong stocks. The problems of Haidilao and Xiabuxiabu themselves have deepened the impact of this fluctuation.Before the stock price evaporated, Haidilao had just released its performance forecast for the first half of the year. Although it successfully turned losses into profits, its performance still did not meet the expectations of institutions. On the other hand, Xiabuxiabu has not been able to solve the aftermath of the expulsion of senior executives, and is still entangled with former CEO Zhao Yi. In comparison, Jiumaojiu's life is fairly comfortable.When the hot pot giants are in a period of pain, the entire catering industry is in full swing, especially the new tea drinking track that has attracted much attention recently. Michelle Bingcheng, Heytea, Guming, and Ningji have successively received financing,<a href=\"https://laohu8.com/S/02150\">Nayuki's tea</a>Already listed in Hong Kong; Even the barbecue track has become a hot cake in the eyes of investors. Recently, Yongdingmen Electric Skewers has completed an angel round financing of tens of millions of yuan, as well as Kuafu Skewers, Long Ago and other brands.With the overall industry upward, how should the hot pot giants solve the cold situation?\"Self-inflicted\" Haidilao and XiabuxiabuJudging from the recent experiences of various brands, both Haidilao and Xiabuxiabu are a bit \"self-inflicted\".Judging from the interim performance forecast released by Haidilao, Haidilao is expected to have a revenue of about 20 billion yuan in the first half of this year and a net profit of between 80 million yuan and 100 million yuan. Compared with the loss of 965 million yuan in the first half of last year, there is no doubt that it turned around. However, despite the overall hot catering industry, Haidilao's performance in the first half of the year failed to meet the expectations of the organization, which directly led to the stock price of the entire Hong Kong stock hot pot company.You must know that Haidilao's net profit in the first half of 2019 exceeded 900 million. Especially with the gradual control of the epidemic in China and the good recovery momentum of the overall industry, Haidilao's achievement is obviously a bit unreasonable. Haidilao's performance after the epidemic The sluggish performance directly led to the continuous decline of stock prices, evaporating by more than 60% in half a year.The reason is that Haidilao's downturn is mainly due to the company's strategic mistakes. Last year, it chose the strategy of accelerating and running wildly. The number of new stores opened throughout the year reached 544, but the direct consequence of this is the sluggish performance. On the one hand, the accelerated opening of stores directly leads to the increase of Haidilao's cost, and even the most valued table turnover rate in the catering industry is not as good as before.<img src=\"https://static.tigerbbs.com/b53e8cb53c93164d80f6dd793830b91e\" tg-width=\"1762\" tg-height=\"1118\" referrerpolicy=\"no-referrer\">Picture from Xiabuxiabu official websiteEven Zhang Yong, CEO of Haidilao, publicly stated before: \"The main problem with the decline in Haidilao's performance is internal management. The store expansion plan I set last year now seems to have problems, but when I responded, it was already this year. It's March\".Affected by the plunge in Haidilao's stock price, the stock prices of other listed players in the hot pot track also began to fluctuate, especially Xiabuxiabu, which has high-level turmoil and dismal performance. Whether it is the resignation of Coucou CEO Zhang Zhenwei or the company's unilateral dismissal of CEO Zhao Yi has severely affected its stock price.Similar to Haidilao, Xiabuxiabu's performance in recent years has not been satisfactory. It has been declining since 2018, and its net profit and turnover rate have continued to decline. Especially in 2020, Xiabuxiabu's net profit decreased by 99.4% year-on-year. At the same time that Haidilao drove the stock price of hot pot stocks to decline as a whole, Zhao Yifa issued an announcement asking Xiabuxiabu to give an explanation for its attempt to remove its executive director, and even asked the outside world to intervene. Various reasons made Xiabuxiabu's stock price higher than Jiumaojiu was more affected.As far as the current situation is concerned, Zhao Yi's impact on Xiabuxiabu will continue for some time. If the problem cannot be solved for a long time, Xiabuxiabu's life may be even more difficult under the turmoil of the military morale.The plight of Haidilao and Xiabuxiabu is nothing more than their decision-making mistakes or internal problems of the company. However, if we look at the entire industry, hot pot is still a star in the catering industry. For example, it was reported last month that Banu, a hot pot chain brand focusing on hairy belly, is completing a financing of more than 500 million yuan.Why is hot pot so hot?The popularity of hot pot brands is inseparable from two reasons-socialization and chain.On the one hand, compared with most catering tracks, hot pot restaurants pay more attention to social interaction, especially the prices of hot pot restaurants today are generally not low. If it is not for dinner gatherings, ordinary consumers will rarely eat hot pot alone, especially the current hot pot brands While maintaining the taste, it also started marketing, such as Haidilao.Under the aura of fashion, convenience and good experience, hot pot is especially favored by young women. According to data from the Huajing Industrial Research Institute, young women are still the main force in hot pot consumption. In 2020, female consumers accounted for 57.1%, while male consumers lagged slightly behind, only 42.9%.On the other hand, it is easier to chain hot pot. Compared with traditional catering enterprises that need to check the taste of dishes, hot pot brands that only need to pay attention to ingredients and pot bottoms, the road to become bigger and stronger is the continuous construction of the supply chain, which only needs to be laid out from procurement, processing, warehousing, logistics and other links. Fresh enough ingredients can become a strong background support for each hot pot restaurant. The most typical example is Haidilao.<img src=\"https://static.tigerbbs.com/427ed6a04f9b6d37c929e87d8eb7a00a\" tg-width=\"800\" tg-height=\"533\" referrerpolicy=\"no-referrer\">Images from Canva Paintable H ả i Nguy ễ nAccording to public information, Haidilao's supplier is its related party Shuhai Supply Chain, which has multiple raw material bases, food processing centers, and base material processing centers. In addition, Xiabuxiabu, Xiaolongkan, Dezhuang, Banu and other hot pot brands either adopt the central kitchen model or cooperate with third-party suppliers.In the final analysis, the taste of hot pot is universal enough, and various pot bottoms such as mushroom soup, spicy food and tomato can meet the needs of a variety of people. If there is a mature supply chain as the support, the products are controllable enough and the service is not bad, the consumer experience is sufficiently guaranteed, and the gradual maturity of the management system in recent years has strengthened the brand's control over chain stores.The differentiation from traditional catering companies has made hot pot the darling of capital, and many star hot pot restaurants have also come from it. However, with the increasing diversification of hot pot catering categories, especially after COVID-19 pandemic, the chain of the catering industry Under the tide, the chain degree of the hot pot industry has further increased, and the competition has become more and more fierce. So does Haidilao still have a chance to return to its peak?Can Haidilao, which has opened stores too hard, recover?Judging from the current environment, it is not impossible for Haidilao to climb to a new peak again.It is undeniable that before 2020, Haidilao's profitability was one of the best in the catering industry. Whether it is revenue, profit or turnover rate, it far exceeds that of its peers. This also makes Haidilao unanimously optimistic from the outside world. Coupled with the market's welcome to leading companies, Haidilao's stock price, as a leader in catering, is like a hydrogen balloon on the wind, all the way up, but this also causes Haidilao's stock price to dive from its highest point in February this year when it continues to encounter problems.However, when the bubble dissipates, the test of Haidilao really begins. As mentioned above, the main problem of Haidilao is the ugly performance caused by opening a store against the trend last year. Haidilao is currently in the integration period of new stores. There are still certain problems in management. If the time is extended for one or two years, the situation of these stores may be much better.<img src=\"https://static.tigerbbs.com/3f759f507680c4285fffb8495c2b6588\" tg-width=\"647\" tg-height=\"467\" referrerpolicy=\"no-referrer\">Image from Haidilao official websiteIn order to realize the integration of new stores as soon as possible, Haidilao is also adjusting its organizational structure. according to<a href=\"https://laohu8.com/S/601788\">Everbright Securities</a>According to the news, in order to improve the efficiency of store management, Haidilao is currently restoring the model of large communities and enhancing refined management. If this goal can be achieved, Haidilao's performance may even reach a higher level.However, compared with Haidilao, which is in pain, Jiumaojiu, Banu and other hot pot peers have a good life. Although Jiumaojiu's stock price has also been affected by the decline in Hong Kong stocks, from the overall situation of the company, Compared with Haidilao and Xiabuxiabu, Jiumaojiu's performance is relatively stable, and it is still opening up new growth. For example, Jiumaojiu's new brand restaurants such as Taier Restaurant and Taier Prequel, affected by this factor, the organization is still optimistic about Jiumaojiu's prospects.<a href=\"https://laohu8.com/S/601995\">CICC</a>Even gave an overweight rating on July 25.Faced with the covetous eyes of brands such as Jiumaojiu and Banu Hotpot, Haidilao CEO Zhang Yong also said in an interview earlier this year that after the performance of these stores matures, Haidilao will continue to expand, but with Last year's lessons from the past, how should Haidilao's expansion proceed?\n<div class=\"bt-text\">\n\n\n source：<a href=\"https://36kr.com/p/1328719318844032\">有牛财经</a>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/427ed6a04f9b6d37c929e87d8eb7a00a","relate_stocks":{"00520":"呷哺呷哺","06862":"海底捞"},"source_url":"https://36kr.com/p/1328719318844032","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113885707","content_text":"火锅品牌的火热离不开两个原因——社交和连锁化。\n\n火锅巨头们最近的日子过的似乎不太顺心，\n7月26日受到港股波动影响，海底捞股价一度暴跌20%、呷哺呷哺股价也蒸发超过13%，九毛九的股价也一度跌过9%。当然，受到这次港股波动影响的不只有餐饮股，海底捞、呷哺呷哺自身的问题更是加深了这次波动的影响。\n股价蒸发前，海底捞刚发布了上半年的业绩预告，虽然成功实现了扭亏为盈，但其业绩仍未达到机构的预期。而另一边的呷哺呷哺还未能解决开除高管后的善后问题，还在与前CEO赵怡纠缠不休，相比之下九毛九的日子过得还算安逸。\n火锅巨头们处于阵痛期之时，整个餐饮行业却是一副热火朝天的景象，尤其是近段时间备受关注的新式茶饮赛道，蜜雪冰城、喜茶、古茗、柠季接连拿到融资，奈雪的茶已经赴港上市；就连烧烤赛道也成了投资人们眼中的一块香饽饽，近期就有永定门电烤串完成千万元天使轮融资，还有夸父烤串、很久以前等等品牌。\n在整体行业向上的情况下，火锅巨头们的遇冷又该如何破解呢？\n“自作自受”的海底捞和呷哺呷哺\n从各家品牌最近的遭遇来看，无论是海底捞还是呷哺呷哺，都有点“自作自受”的意思。\n从海底捞发布的中期业绩预告来看，海底捞今年上半年预计营收200亿元左右，净利润8000万元到1亿元之间，相比去年上半年亏损9.65亿的业绩毫无疑问的打了个翻身仗，但是在餐饮行业整体火热的情况下，海底捞的上半年业绩却未能达到机构的预期，这也直接导致了整个港股火锅企业的股价。\n要知道海底捞2019年上半年的净利润就超过了9亿，尤其是在国内对疫情的逐渐控制，整体行业恢复势头良好的情况下，海底捞这成绩显然有点说不过去，海底捞疫情之后的业绩低迷直接导致了股价的持续下跌，半年蒸发超过60%。\n究其原因，海底捞的低迷主要是因为公司战略失误，在去年选择了加速狂奔的策略，全年新开门店达到了544家，但这带来的直接后果就是业绩的低迷。一方面加速开店直接导致海底捞成本加剧，就连餐饮行业最受重视的翻台率都大不如前。\n\n图片来自呷哺呷哺官网\n就连海底捞CEO张勇此前也公开表示：“海底捞业绩的下降最主要的问题就是内部管理，去年我定下的扩店计划现在看来确实存在问题，但是做出反应的时候已经是今年3月份了”。\n受到海底捞股价暴跌的影响，火锅赛道里的其他上市选手的股价也开始波动，尤其是高层动荡、业绩惨淡的呷哺呷哺，无论是凑凑CEO张振纬的离职，还是公司单方面罢免CEO赵怡，都让其的股价受到剧烈影响。\n与海底捞相似的是，呷哺呷哺近年来的业绩并不理想，从2018年就开始走下坡路，净利润、翻台率持续下滑，尤其是2020年呷哺呷哺净利润同比减少99.4%。在这次海底捞带动火锅股股价整体下滑的同时，赵怡发公告要求呷哺呷哺就试图罢免其执行董事的行为给个说法，甚至要求外界介入，种种原因让呷哺呷哺的股价比起九毛九受到的影响更大。\n就目前的情况来看，赵怡给呷哺呷哺带来的影响还将持续一段时间，要是长期无法解决问题，军心动荡之下，呷哺呷哺的日子或许会更加困难。\n海底捞、呷哺呷哺的困境，无非是其决策失误或者公司内部问题，但是如果将目光放到整个行业来看的话，火锅仍然是餐饮行业里的一颗明星，就比如上个月有报道称，主打毛肚的火锅连锁品牌巴奴正在完成一笔超过5亿元的融资。\n火锅为什么这么火？\n火锅品牌的火热离不开两个原因——社交和连锁化。\n一方面，火锅店相比大部分餐饮赛道，更加注重社交，尤其是现在的火锅店定价普遍不低，如果不是为了聚餐，普通消费者很少会单独去吃火锅，尤其是现在的火锅品牌在保持味道的同时，还开始做起了营销，就比如海底捞。\n在时尚、方便、体验好等光环的笼罩下，火锅尤其受到年轻女性的青睐。根据华经产业研究院的数据显示，年轻女性仍然是火锅消费的主力军，2020年女性消费者占比达到了57.1%，而男性消费者稍有落后，仅为42.9%。\n另一方面，火锅连锁化更加容易，相比需要对菜品口味把关的传统餐饮企业，只需要注重食材和锅底的火锅品牌们，做大做强的道路便是供应链不断的建设，只需要从采购、加工、仓储、物流等各个环节进行布局，足够新鲜的食材就能成为各家火锅门店强有力的后台支撑，其中最典型的例子就是海底捞。\n\n来自Canva可画 Hải Nguyễn的图片\n根据公开信息，海底捞的供应商是其关联方蜀海供应链，拥有多个原材料基地、食材加工中心、底料加工中心，除此之外呷哺呷哺、小龙坎、德庄、巴奴等火锅品牌要么采用中央厨房的模式、要么和第三方供应商有合作。\n说到底，火锅的口味有足够的普适性，菌汤、麻辣、番茄等多种锅底能满足多种人群的需求，如果有着成熟的供应链作为支撑，产品足够可控，服务不差的情况下，消费者地体验有着足够的保障，而且近些年管理系统的逐渐成熟，增强了品牌对于连锁店的管控。\n与传统餐饮企业的差异化，让火锅成了资本的宠儿，许多明星火锅店也由此而来，但是随着火锅餐饮品类的愈发多元化，尤其是新冠疫情之后，在餐饮行业连锁化的浪潮之下，火锅行业的连锁度进一步上升，竞争也越发激烈，那么海底捞还有机会恢复巅峰吗？\n开店过猛的海底捞，还能缓过来吗？\n从现在的环境来说，海底捞也不是没有可能再度爬上新的巅峰。\n不可否认的是，2020年之前的海底捞赚钱能力在餐饮界中算得上是数一数二的，无论是营收、利润还是翻台率都远超同行，这也让海底捞受到了外界的一致看好，再加上市场对于龙头企业的欢迎，作为餐饮龙头的海底捞，其股价就像是风口上的氢气球，一路向上，但是这也导致海底捞在持续碰到问题时，股价也从今年2月的最高点一路俯冲。\n不过当泡沫散去之后，对于海底捞的考验才是真正开始，上文也提到过，海底捞主要的问题就是去年逆势开店导致的业绩难看，目前海底捞正在新店整合期，对于人员的管理方面还有一定的问题，如果将时间放长一两年，这些门店的情况或许会好上不少。\n\n图片来自海底捞官网\n为了尽早实现新门店的整合，海底捞也在对组织架构进行调整。根据光大证券的消息，海底捞为了提升门店管理效率，目前正在恢复大小区的模式，增强精细化管理，如果能够实现这一目标，海底捞的业绩甚至还有更上一层楼的可能性。\n不过比起处于阵痛期的海底捞，九毛九、巴奴等火锅同行的小日子过得还算不错，虽然九毛九的股价也受到了这次港股下跌的影响，但是从公司整体情况来说，比起海底捞和呷哺呷哺，九毛九的业绩还算稳定，而且还在开辟新的增长，例如九毛九旗下得太二餐厅、太二前传等新品牌餐厅，受到这一因素的影响，机构对于九毛九的前景还算看好，中金公司甚至在7月25日给出了增持的评级。\n面对九毛九、巴奴火锅等品牌的虎视眈眈，海底捞CEO张勇在今年早些时候接受采访的时候也表示，等到这批门店的业绩成熟后，海底捞还将继续扩张，不过有了去年的前车之鉴，海底捞的扩张之路又该如何进行呢？","news_type":1,"symbols_score_info":{"00520":0.9,"06862":0.9}},"isVote":1,"tweetType":1,"viewCount":2399,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":1,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}