Most of the new restaurants will be opened in China.
China’s biggest hotpot chain Haidilao will open more than 400 new restaurants in 2020, more than a hundred more than initially planned.
Citing a recent interview by chief strategy officer Zhou Zhaocheng, Reuters first reported that most of the new restaurants will be opened in mainland China, and less than 10% overseas.
The company had initially planned to open around 300 restaurants in 2020, compared to 308 new openings in 2019.
The hot pot business reported a loss of 965 million yuan (US$147 million) for the first half, down 205.7% from a year earlier.
Haidilao has also opened new stores this year in Britain, Canada, the United States, Southeast Asia and South Korea as part of its expansion drive.
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