Summary of Tehai International Conference Call Company Overview - Tehai International reported total revenue of 209 million, a 10.4% year-on-year growth, with restaurant revenue at 11.6 million due to foreign exchange fluctuations [2][10][9] - The average daily table turnover rate for Haidilao restaurants reached 3.9 times, with same-store sales growth of 4.2% [3][8] Operational Improvements - The company has launched over 1,000 new products globally, including beef pies and fresh sliced beef, enhancing product offerings and supply chain management [2][6] - Tehai International is focusing on improving operational efficiency, employee welfare, and customer interaction [2][4] - The company plans to increase table turnover rates through regional management optimization and special events [4][14] Market Expansion and Strategy - Tehai International is actively expanding services, including night-time offerings in Malaysia and Canada, and celebrity collaborations in Korea [2][7] - The company emphasizes local employee integration, with 20%-30% of employees and management being local hires, enhancing customer attraction [2][15] - Plans for new store openings include 10 new locations by the end of 2025, with a focus on replicating successful North American market strategies [4][16] Cost Management and Profitability - Raw material costs accounted for 33.1% of total revenue, with employee costs at 33%, reflecting a slight increase due to wage hikes [8][9] - The company recorded a significant foreign exchange loss of $19.7 million, impacting net profit but excluding non-operating factors, actual profit met targets [2][10] Regional Performance - East Asia showed strong performance with a table turnover rate of 4 times, while North America experienced a slight decline in dining frequency [12] - Southeast Asia's restaurant revenue grew by 7.7%, despite challenges in Cambodia and the Philippines [12] Pricing Strategy and Customer Engagement - Tehai International is implementing differentiated pricing strategies to maintain customer spending levels amid inflation [13] - The company is enhancing customer engagement through various dining events and dedicated customer managers [5][7] Future Outlook - The focus for 2025 will be on balancing same-store sales growth with new market expansion, with a cautious optimism towards North American market potential [18][20] - The company is exploring new brand development opportunities, particularly in barbecue and other Asian cuisines [16][27] Conclusion - Tehai International is positioned for growth through operational improvements, market expansion, and strategic pricing, despite facing challenges in foreign exchange and regional performance variances. The company remains committed to enhancing customer experience and optimizing supply chain management for future profitability.
特海国际20250325