On the evening of February 22, Jiuhaojiu Group released a positive profit forecast, expecting a revenue of 5.986 billion yuan in 2023, an increase of 49.40% year-on-year; the profit attributable to company equity shareholders is expected to be 450 million yuan, an increase of no less than 812.8% year-on-year, which is the best profit level achieved since its listing in 2020.
Jiuhaojiu Group owns multiple dining brands, including Tai Er Suancai Fish, Jiuhaojiu Northwest Cuisine, and Sǒng Chongqing Hotpot. "The increase in performance in 2023 is mainly due to the expansion of our restaurant network, with the total number of operational restaurants increasing from 556 at the end of 2022 to 726; increase in same-store sales, business recovery from the pandemic, significantly more operating days and turnover rates in 2023, and improved operational efficiency, including continuously enhanced supply chain support capabilities," said Jiuhaojiu Group.
According to data released by the National Bureau of Statistics, in 2023, the national catering income reached 5.289 trillion yuan, a year-on-year increase of 20.4%, setting a new historical record; the catering income of larger-scale units was 1.3356 trillion yuan, a year-on-year increase of 20.9%.
Since 2023, China's economy has continued to stabilize and improve, with consumer market demand constantly being stimulated. Listed companies in the catering industry have seized opportunities, gradually restoring confidence in their development, and have seen a noticeable improvement in their operating performance. The robustness, potential, and vitality of the catering economy have further manifested.
In addition, Haidilao expects its operating revenue in 2023 (i.e., excluding the business of Tasty Sea International) to be no less than 41.4 billion yuan, a year-on-year growth of no less than 33.3%; net profits are expected to hit a record high, no less than 4.4 billion yuan, a year-on-year increase of no less than 168.29%. During the same period, Yum China's system sales increased by 21% year-on-year, and excluding non-comparable factors, the core operating profit increased by 79% year-on-year. Quanjude expects to turn its 2023 loss of 278 million yuan into a profit of 56 to 66 million yuan; Tongqinglou expects a net profit increase of 191.45% to 242.13% year-on-year in 2023.
As we enter 2024, the recovery pace of the catering industry has not ceased.
At present, as the Lantern Festival approaches, various businesses present traditional festive foods in innovative ways, not only adding novelty to the festival but also satisfying the consumption trend of young people who like to "chase the trend," stimulating the consumption of various goods and services, and continuously injecting new vitality into consumption recovery.
"This Lantern Festival, many businesses have launched new products such as 'rice balls + coffee' and 'rice balls + tea,' not only enriching the consumption scenarios of rice balls but also integrating and innovating in taste, bringing us quite a bit of inspiration," said a product designer from a Ningbo rice ball factory. Zhu Danpeng, vice-chairman of the Guangdong Food Safety Assurance Promotion Association, stated that in 2023, as offline consumption scenes increasingly recovered and local consumer incentive policies were frequently introduced, catering income exceeded 5 trillion yuan for the first time, reflecting the new vitality of consumption brought by the catering industry, which is inseparable from the innovation and transformation of catering enterprises themselves. Zhang Chuan, Senior Vice President of Meituan, believes that with the rapid recovery of the consumer market and the upgrading of the industrial structure, consumers are gradually shifting from luxurious and abundant food to refined, nutritious, and healthy diets, allowing more refined restaurants to stand out. In light of this new development opportunity, consumers' pursuit of gourmet food will drive the continued growth of refined catering.
