Haidilao is in trouble with the double-wrink stall again, because the crispy and brittle belly is missing two pounds and is caught by customers!
On October 19, Haidilao also responded urgently: "I have apologized in person, but the 20,000 cash compensation has not been agreed." ”
What the hell is going on?
Haidilao was exposed to a shortage of two pounds! 72 yuan 200 grams of hair belly is only 138 grams
On October 19, Henan TELEVISION Station's People's Livelihood Channel "Xiaoli Help" reported that when Ms. Geng and her friends in Zhengzhou, Henan Province, went to Haidilao New World Department Store for dinner, they ordered a 72 yuan fishing pie crispy brittle belly, but after serving, it was found that the portion was obviously very small, and when employees were asked to weigh it, they found that the hairy belly with a specification of about 200g was actually only 138g, which was 62g less.
The reporter accompanied Ms. Geng to the store to verify the situation, and the store manager explained that it was caused by the operation error of the staff when preparing the dish, and only this dish was unqualified on the day.
The director of the Zhengzhou Chengdong Road Market Supervision Institute said that in this case, according to the provisions of the new consumer law, customers can be compensated three times the loss.
Ms. Geng, the party concerned, responded that she did not want a penny or a card, and the apology could be explained clearly.
Haidilao responded: It has apologized in person, and the customer has proposed 20,000 cash compensation
In this regard, Haidilao responded, "Thank you for your attention, and I hope to add that the product needs to be stored within half an hour after being plated as required." Customers eat at 4:00 a.m., because the staff put them in the freezer in advance and put them in the freezer, the product characteristics lead to water loss. It is an operational error and has been strengthened for rectification. We are very sorry for this, and have apologized to customers in person on the same day, and support customers to protect their rights according to law. Due to the customer's request for 20,000 cash compensation, an agreement could not be reached. This has been proactively reported to the MarketIng Bureau. ”
This incident made Haidilao once again appear on the first place in Weibo's hot search.
Some netizens said" Well, the next time you eat hot pot with a scale", and some netizens said, "On this one is not qualified, good coincidence."
Some netizens also think that it will not really be a mistake.
Some netizens said that Haidilao is excessive, but the customer's claim for compensation of 20,000 is also a bit excessive.
The price has been quietly rising for the past 2 years
Haidilao's lack of two pounds is not to "increase prices in disguise" is not known, but the data shows that Haidilao has indeed increased prices this year.
According to public information, the price increase of Haidilao in the past two years has been quietly carried out. In April 2020, a Beijing diner posted a Haidilao bill on Weibo: "Half a portion of blood rose from 16 yuan to 23 yuan, half a potato chip was 13 yuan, calculated down to 1.5 yuan a piece of potato; self-service seasoning was 10 yuan a piece; rice was 7 yuan a bowl."
Another netizen's bill also showed that the price of the whole crispy meat rose from 26 yuan last July to 44 yuan. As a result, the price increase incident was quickly scolded by netizens on the hot search. Haidilao then issued an apology letter, saying that the price increase was a wrong decision by management, and from that day onwards, all store prices were restored to the standard before the store closed on January 26, 2020.
But at the end of 2020, a number of media exposed Thatilao once again "secretly increased prices", some netizens said that when eating at Haidilao Zhengzhou Park Mao Store, they found that compared with September, the price of some dishes increased: Australian fat cattle rose from 78 yuan to 84 yuan, fresh-cut beef from 72 yuan to 78 yuan; Haidilao Xiamen Jimei Wanda store, snowflake pork slices, freshly fried crispy meat rose by 2 yuan each, beverages and self-selected spices also rose by 1 yuan to 4.5 yuan, 5.5 yuan and so on.
According to the company's financial report, Haidilao's per capita consumption in 2020 increased to 110 yuan, an increase of 4.8% year-on-year, compared with 4% in 2019 and 3.1% in 2018. In other words, Haidilao does have price increases year by year, and in 2020, under the influence of the epidemic, its price increase is higher.
Stock price plunged 60% down the altar?
Daniel Zhang said bluntly: Everyone is too mythical about Haidilao
Under the blessing of price increases, Haidilao's stock price performance is still not good.
As of the close of trading on the 19th, Haidilao closed at HK$30.05, and the latest market value was HK$164 billion, but compared with the high point of HK$85.78 at the beginning of the year, Haidilao's stock price plunged by more than 60% in just 8 months, and it seems that it has "fallen off the altar".
In response to the sharp correction in stock prices since the beginning of the year, at an investor exchange meeting in June this year, Haidilao founder Daniel Zhang admitted to the mistake of prediction and said that he had no hope for Haidilao to maintain performance growth.
"Everyone mythologizes the seabed fishing, and I am very disgusted. You have to be rational and your investments should be cautious. To find out what doesn't live up to its name, just look at Haidilao. He said.
The market is bearish on Haidilao, largely due to its recovery less than expected turnover rate, which is related to sustainable growth, behind its wild number of stores. Investors are worried that the myth of Haidilao's high-tech stores, high income and high returns will be shattered.
Haidilao previously announced its 2021 interim results, showing that in the first half of 2021, it achieved revenue of 20.09 billion yuan, an increase of 105.9% year-on-year; the net profit attributable to the mother was 0.97 billion yuan, a year-on-year turnaround; the overall turnover rate fell from 3.3 times/day in the same period of 2020 to 3.0 times/day; the per capita consumption expenditure of Haidilao restaurants in first-tier to third-tier cities fell by 2.6%-2.8% year-on-year.
The company said that the operating conditions in the first half of the year were not as good as expected, mainly because: first, since the second half of last year, a large number of new stores have been added, and the huge fixed costs have increased the operating pressure; second, due to the impact of the epidemic, the breakeven period and cash investment return period of newly opened stores are longer than before. By the end of June, Haidilao Group's global stores had increased by 299 to 1,597, of which 1,491 were located in Chinese mainland and 106 were located in Hong Kong, Macao, Taiwan and overseas.
Daniel Zhang also said at the previous investor exchange meeting that the judgment of the epidemic situation is too optimistic, and more than 5% of stores in some cities with dense stores have operating losses, and when a region has a certain loss of 5%, it will suspend expansion in the area. More time is given to observe at this time to determine whether it is a definitive loss.
What exactly went wrong with Haidilao?
For the rapid expansion after the Haidilao epidemic, the founder of the head restaurant explained to the 21st Century Business Herald reporter that the growth of "robbing Party A" and agreed with the statement that Daniel Zhang "misjudged the situation", but he said that "the temptation is great".
According to the founder, for newly opened stores, Haidilao originally had corresponding rules, and store managers with poor performance did not have the right to open new stores, but last year they fully liberalized this provision. "Daniel Zhang was sure that the epidemic would soon pass, so he took the opportunity to sign a very harsh agreement with the property, one sign for 10 years, including two years of rent-free, decoration, and no rent increase within 5 years. This is robbing Party A during the epidemic. ”
Haidilao's management does not shy away from this. It disclosed at the investor exchange meeting that the current proportion of store rents to receivables is stable, and even the proportion of rents in second- and third-tier cities is lower than in 2019.
"These new growth store managers have no experience and don't know what to do if something goes wrong. When business is not good, a group of store managers will be trained. Daniel Zhang described the situation this way, saying that "Sai Weng lost his horse and knew that it was not a blessing."
"The core problem for everyone is the decline in Haidilao's performance, and I think the most important reason is internal management problems. Internal management is always there, both before and after listing. I summarize several aspects of management: institutionalized management, process operation, tracking supervision, and data-based assessment. These aspects are easier said than done. If I get away with it this time, I can reintegrate these stores, and similar difficulties will occur in the future. Because when I integrate these 1,000 stores, I will continue to expand. There will be no major changes in management due to the current situation. Daniel Zhang said.
For the valuation of Haidilao, the founder said that Haidilao's stock price has returned to a reasonable range. "Last year was really overestimated, and it has to do with the big environment. Now it's back to a normal mass. If it falls further, it proves that the market is not optimistic about the growth of Haidilao. He said. The founder's stores have their own wins and losses in the competition with Haidilao.
Haidilao founder Daniel Zhang Figure/Figure Worm
Daniel Zhang was a grassroots counterattack case and once topped Singapore's richest man
Time back to September 26, 2018, Haidilao was finally listed on the Hong Kong Stock Exchange. With an issue price of HK$17.8 per share and a total share capital of about 5.3 billion shares, Haidilao's IPO market value was HK$94.56 billion, leaving the "first hot pot share" at that time behind.
In 2018, a gong sounded, 7 billionaires were born, and Haidilao opened with an opening price of 18.8 Hong Kong dollars on the same day, and the market value quickly exceeded 100 billion. Haidilao's founder Daniel Zhang's value soared to more than 60 billion. In addition to Daniel Zhang, Haidilao co-founders Shi Yonghong and Li Haiyan held a market value of 25.83 billion Hong Kong dollars, and Yang Lijuan, a waiter in Haidilao's early years, was violent to 3.48 billion Hong Kong dollars, becoming the best case of grassroots counterattack that year.
The story of Daniel Zhang and Haidilao has long been hyped up by the market, in 1994, three unsuccessful entrepreneurial Daniel Zhang found that small hot pot is very popular in Chengdu, and he realized the business opportunities in it. In the spring of that year, he pulled Shi Yonghong, a classmate of the technical school, and their respective girlfriends to open the first Haidilao in Jianyang, Sichuan Province, and there were only 4 tables in the store, which was very inconspicuous. But with the attitude of being willing to endure hardships and be willing to serve, Haidilao quickly became a brother in the hot pot industry, and in 2011, a book "Haidilao You Can't Learn" pushed Haidilao to the altar. Subsequently, all kinds of capital continued to be blessed, and Haidilao was "sealed".
The listing is only the beginning of the story, not the end, and in 2019, the market continues to build well, and Haidilao's stock price is soaring. Daniel Zhang that year can be described as "spring breeze triumphant horseshoe disease", in August 2019, Singapore's richest man changed for the first time in 10 years, according to the financial magazine "Forbes Asia" latest release of Singapore's top 50 richest people list, Daniel Zhang with a net worth of 13.8 billion US dollars (about 19.2 billion Singapore dollars), defeated the top 10 years of Far East institutions Huang Zhixiang and Huang Zhida brothers, became the richest man in Singapore, Daniel Zhang ushered in their own highlight moment.
Subsequently Daniel Zhang became the darling of major media reports, although extremely low-key, but the market still has no shortage of his legends. In addition, research reports on "hot pot" also followed. In 2019, a "2019 Hotpot Industry In-depth Research Report" by CITIC Construction Investment pushed a number of hot pot bigwigs such as Haidilao to the cusp of the storm, and CITIC Construction Investment believes that hot pot is a trillion track on the tip of the tongue, the best track in the catering industry, with high taste acceptance, wide range, easy standardization, expansion, strong social attributes, rich taste of pot bottom and spices. At present, the concentration of the hot pot industry is low, but the scale is the largest in the catering subdivision track, the operating efficiency is of high quality, and the leading enterprises are expanding rapidly. It is estimated that by 2022, the market size of the hot pot industry will be nearly 800 billion yuan, and the concentration of leaders will be further enhanced.
However, the flowers do not have a hundred days of red. A sudden epidemic in 2020 made Haidilao experience its first round of "critical hits" since its listing, and in March last year, Haidilao fell to 27.28 Hong Kong dollars per share. But then, in order to save the real economy, the central banks began to "throw coins", Haidilao's stock price rebounded, disadvantages became advantages, in 2020, Haidilao's stock price increased by as much as 91.5%, known in the industry as "Maotai in the hot pot". By February 16 this year, the highest rebound to 85.78 Hong Kong dollars / share, the total market value reached 454.6 billion Hong Kong dollars, and now, 8 months later, after a round of downturn, Haidilao's stock price has returned to 30 Hong Kong dollars.
Sources丨 21st Century Business Herald (reporters: He Hongyuan, Ye Wheat Ear), public information, Henan Television Station Minsheng Channel, Beijing Youth Daily, etc
This issue is edited by Li Yutong