Haidilao’s Hotpot Jump: A $1B Splash in Hong Kong’s Skyline
On September 26, Haidilao International—China’s legendary hotpot titan—fizzed its way onto the Hong Kong stock market and leapt up to 10.3% in the first trading session. The company pulled in nearly $1 billion (S$1.37 billion) from its debut IPO.
Opening Numbers & Trading Buzz
- IPO price: HK$17.80 (already the top of the target range)
- Opening price: HK$18.80
- Peak: HK$19.64
Those early buyers weren’t just buying shares—they were buying a slice of China’s most customer‑friendly hotpot experience.
Beyond the Broth: What’s in the Trade?
Haidilao is known for turning a regular visit into a full‑service staycation: queues get snacks, tea, and even manicures. The company plans to pour the IPO proceeds into three priorities:
- Global expansion—spreading that Sichuan heat worldwide.
- Debt repayment—paying off any simmering loan pressure.
- Food‑safety tech—upgrading kitchen gadgets to keep everything glitch‑free.
Challenges on the Menu
Not all is perfect steam—last year, a Beijing outlet faced a swine‑ish scandal with a rat‑infested kitchen and dirty dishes. Haidilao’s motto remains simple: preserve the “boiling chili‑peppered water” that fans adore.
Founder’s Flavors & Growth
- Zhang Yong—47, started the chain in 1994 after a stint in a tractor factory in Sichuan.
- 2023 salary: 14 million yuan (S$2.8 million).
- Since 2015, the chain adds over 30 restaurants a year.
- Revenue boom: 7.3 billion yuan in 6‑month sales, 647 million yuan from 341 outlets.
In short, Haidilao’s hot pot is heating up the market and the world—one bowl at a time.
