Business · Companies · 2 hrs ago
Haidilao expands beyond hotpot as growth slows
Haidilao, China’s largest hotpot chain, is expanding into burgers, sushi and delivery as its hotpot business loses momentum.
The company is responding to slower consumer spending and tougher competition in China’s restaurant market.
It is looking beyond opening more hotpot restaurants to find new sources of growth.
Founder Zhang Yong returned to the CEO role earlier this year as the company works to change its business mix.
Hotpot revenue is falling quickly, while a large share sale by the founder’s family has also weighed on the company’s shares.
The stock has fallen to its lowest level in more than four years.
Haidilao is expanding its new businesses and delivery, but no further plans or results are specified.
Haidilao is expanding into hamburgers, sushi and delivery as growth in its hotpot business slows.
The Chinese chain is seeking new sources of growth amid weaker domestic consumption and intensifying competition in the restaurant industry.
Founder Zhang Yong returned to the CEO role earlier this year as the company moved to adjust its business.
Haidilao’s share price has fallen to its lowest level in more than four years, while its core hotpot revenue is declining rapidly.
- Who
- Haidilao, described as China’s largest hotpot chain.
- What
- The company is expanding into non-hotpot businesses, including hamburgers, sushi and delivery.
- When
- The article was published on October 18, 2026. Zhang Yong returned as CEO earlier that year.
- Where
- China.
- Why
- Slowing domestic consumption, tougher restaurant competition and stagnating growth in its core hotpot business are prompting Haidilao to seek new sources of growth.
This story does not have two clearly opposing sides.
Founder Zhang Yong returned to the CEO role.
Hankyung reported that Haidilao was expanding into hamburgers, sushi and delivery as hotpot growth slowed.
- Company
- Haidilao, China’s largest hotpot chain
- New businesses
- Hamburgers, sushi and delivery
- CEO
- Founder Zhang Yong returned to the role earlier in 2026
- Share price
- At its lowest level in more than four years
- Core business
- Hotpot revenue is declining rapidly