Haidilao Founder Zhang Yong Reclaims CEO Post to Revive Growth
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Zhang Yong, founder of Haidilao International Holding Ltd., has resumed his role as chief executive officer of the popular hot pot chain, returning to the operational helm to navigate a strategic overhaul as earnings flag and China’s dining sector cools.
The leadership shake-up, announced late Tuesday, signals what insiders call a “second revolution” for the Hong Kong-listed company. Zhang aims to revive profitability through an accelerated rollout of the “Red Pomegranate Plan,” an initiative launched in 2024 to develop new restaurant brands beyond hot pot. While Zhang has in recent years focused on high-level strategy, sources familiar with the matter said his return is meant to quicken decision-making during a pivotal transition.
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- Zhang Yong returned as CEO of Haidilao in 2025 to accelerate strategic transformation amid falling earnings and a sluggish dining sector.
- Revenue from non-hot pot restaurants rose 227% year-over-year to 597 million yuan, but total revenue fell 3.7% to 20.7 billion yuan and net profit dropped 13.7%.
- Haidilao reduced its store count by 21 to 1,322 and added only three franchised outlets in early 2025, reflecting cautious expansion.
- Haidilao International Holding Ltd.
- Haidilao International Holding Ltd. is a popular hot pot chain facing challenges in China's cooling dining sector. Its founder, Zhang Yong, has returned as CEO to lead a "second revolution," focusing on the "Red Pomegranate Plan" to diversify beyond hot pot. Despite struggles, Haidilao is adjusting its store network and leadership to revive profitability.
- Super Hi International Holding Ltd.
- Super Hi International Holding Ltd. is the overseas spinoff of Haidilao, which is led by Yang Lijuan. She stepped down from her role as CEO of Haidilao in June 2024 to lead Super Hi International Holding Ltd.
- March 2022：
- Zhang Yong stepped down as CEO; Yang Lijuan took over as CEO.
- 2023：
- Gou Yiqun launched the innovation committee.
- 2024：
- Red Pomegranate Plan was launched.
- March 2024：
- Haidilao began franchising.
- First half of 2024：
- Average table turnover was 4.2 times per day.
- June 2024：
- Yang Lijuan stepped down as CEO to lead Haidilao’s overseas spinoff; Gou Yiqun became CEO.
- Mid-2024：
- Haidilao had 1,343 locations.
- First half of 2025：
- Revenue from non-hot pot restaurants surged 227% year-over-year.
- First half of 2025：
- Total revenue fell 3.7% year-over-year; net profit dropped 13.7%; average table turnover declined to 3.8 times per day.
- June 2025：
- Year-on-year growth in restaurant retail sales slowed to 0.9%.
- Mid-2025：
- Haidilao operated 1,322 locations, a net decrease of 21 from mid-2024.
- Rest of 2025：
- Restaurant retail sales growth remained in low single digits.
- January 13, 2026：
- Leadership shake-up announced; Zhang Yong returns as CEO.
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