Sichuan HaiDiLao Expands at Home and Abroad

Haidilao plans to expand by adding 80 more stores in China and internationally, focusing on rising demand. The company is optimistic about growth in Southeast Asia but faces challenges in the US and UK markets. In the US, Haidilao adapts its strategy by offering a Japanese-style hot pot experience, which has been well-received. Financially, Haidilao is not concerned about funding, as it has ample cash flow and invests profits into related businesses. The company is not interested in an IPO, focusing instead on understanding cultural differences and managing labor-intensive operations. Despite fierce competition in China, Haidilao maintains strong margins and offers competitive salaries to its employees.

What is the current state of competition in the restaurant market in China according to Haidilao's management?

What is the significance of employee salaries in the context of Haidilao's business in China?