Haidilao Expands Beyond Hotpot with Burger and Sushi Ventures Amid Slowing Core Business

China’s largest hotpot chain Haidilao International Holding is aiming to further diversify its business with hamburger stores – following the example set by American brands like McDonald’s and KFC – and has also opened up more sushi stores to tap new growth drivers, as its core hotpot business shows slowing momentum. The domestic market is crowded with Western-style burger outlets, including Shake Shack and Burger King, and home-grown chains Slowboat and NewYoBo. “We don’t expect these sub-brands to make a major contribution to Haidilao’s earnings. Haidilao has been building sub-brands for years – it now runs more than 20 under its umbrella – but none has gained meaningful traction,” said Ivan Su, a director at Morningstar. “While the group can support them with a stronger supply chain and cost structure, China’s restaurant industry is hypercompetitive, and Haidilao’s brand halo doesn’t transfer to new concepts,” Su added. This is Haidilao’s second attempt at the burger business, after it launched the Hiburger brand in 2024 and closed the stores in 2025. The group also runs several other food enterprises, such as seafood street‑style eateries and Chinese fast-food chains. Fresh Burger mainly offers freshly grilled burgers with no pre-made frozen meat patties. Burgers are priced between 18.9 yuan (US$2.80) and 41.9 yuan, and its menu includes items like pizza, pasta, coffee and ice cream, according to the group.