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Chinese catering firms have witnessed a contraction in terms of profit cut

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Against unfavorable factors such as slowdown in growth rates for domestic and overseas economies, in-depth implementation of a series of regulations like “Eight Requirements” and “Six Bans” issued by the Central Government, H7N9’s bird flu as well as ever-growing food safety issue, China catering industry encountered grave pressure, with the revenue in 2012 increasing by 13.6% year-on-year to RMB2.3448 trillion, touching the bottom in industrial growth rate since 1991. Likewise, the revenue of chain catering enterprises above designated size posted RMB128.3 billion, up 14.6% year-on-year.

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Chinese catering firms have witnessed a contraction in terms of profit cut

  1. 1. China Chain Catering Industry Report, 2013-2016 Dec. 2013
  2. 2. STUDY GOAL AND OBJECTIVES METHODOLOGY This report provides the industry executives with strategically significant Both primary and secondary research methodologies were used competitor information, analysis, insight and projection on the in preparing this study. Initially, a comprehensive and exhaustive competitive pattern and key companies in the industry, crucial to the search of the literature on this industry was conducted. These development and implementation of effective business, marketing and sources included related books and journals, trade literature, R&D programs. marketing literature, other product/promotional literature, annual reports, security analyst reports, and other publications. REPORT OBJECTIVES Subsequently, telephone interviews or email correspondence  To establish a comprehensive, factual, annually updated and cost- was conducted with marketing executives etc. Other sources effective information base on market size, competition patterns, included related magazines, academics, and consulting market segments, goals and strategies of the leading players in the companies. market, reviews and forecasts.  To assist potential market entrants in evaluating prospective acquisition and joint venture candidates.  To complement the organizations’ internal competitor information INFORMATION SOURCES The primary information sources include Company Reports, and National Bureau of Statistics of China etc. gathering efforts with strategic analysis, data interpretation and insight.  To suggest for concerned investors in line with the current development of this industry as well as the development tendency.  To help company to succeed in a competitive market, and Copyright 2012 ResearchInChina understand the size and growth rate of any opportunity. Room 502, Block 3, Tower C, Changyuan Tiandi Building, No. 18, Suzhou Street, Haidian District, Beijing, China 100080 Phone: +86 10 82600828 ● Fax: +86 10 82601570 ● www.researchinchina.com ● report@researchinchina.com
  3. 3. Abstract Against unfavorable factors such as slowdown in growth rates for listed industrial players witnessed a drop in the main. A case in domestic and overseas economies, in-depth implementation of a series point was Xiangeqing, which posted a year-on-year drop of 375.4% of regulations like “Eight Requirements” and “Six Bans” issued by the when it comes to the net income in the first three quarters of 2013. Central Government, H7N9’s bird flu as well as ever-growing food A series of adverse situations such as ever-growing operation cost, safety issue, China catering industry encountered grave pressure, with the revenue in 2012 increasing by 13.6% year-on-year to RMB2.3448 trillion, touching the bottom in industrial growth rate since 1991. Likewise, the revenue of chain catering enterprises above designated size posted RMB128.3 billion, up 14.6% year-on-year. declining profit and massive change in demand forces industrial players to seek for breakthroughs by means of transformation. For example, they glue their eye on family feast, gathering, wedding banquet and other popular markets. Besides, they present lowpriced dishes and drinks to attract consumers. Since 2013, Chinese catering firms have witnessed a contraction in terms of profit cut. From January to November, the revenue in the Take Xiangeqing as an example, it took over 90% stake of industry grew only by 9.0% year-on-year to RMB2.2913 trillion. Shanghai Qiding Food Development Co., Ltd. in April 2012, and embarked on “students’ meal” field; in July, it purchased 100% Under the influence of opposing extravagance and waste launched by the central government, a great many of catering enterprises saw great loss since many officials were no longer allowed to have lavish public banquets, which contributes in a large part to the drop in revenue of the high-end catering sector. Furthermore, the net income of major stake of LongDeHua Restaurant Management to made inroads into group meal catering service market; in August, it merged 90% stake of Beijing WeiZhiDu Catering Management to set foot in fast food business Copyright 2012ResearchInChina Room 502, Block 3, Tower C, Changyuan Tiandi Building, No. 18, Suzhou Street, Haidian District, Beijing, China 100080 Phone: +86 10 82600828 ● Fax: +86 10 82601570 ● www.researchinchina.com ● report@researchinchina.com
  4. 4. In June, 2012, Xiao Nan Guo Restaurants Holdings Limited (XNG) unveiled the third mid-range oriented brand- Dining Room; in Oct.2012, QUANJUDE joined the rank to invest in a group meal enterprise “Beijing Quanjude Mayerton Restaurant Management Co., Ltd; in May 2013, Tang Palace (China) Holdings Limited opened PappaRich, the first of its kind in Shanghai. Copyright 2012ResearchInChina Room 502, Block 3, Tower C, Changyuan Tiandi Building, No. 18, Suzhou Street, Haidian District, Beijing, China 100080 Phone: +86 10 82600828 ● Fax: +86 10 82601570 ● www.researchinchina.com ● report@researchinchina.com
  5. 5. Table of contents Preface 1. Overview of China Chain Catering Industry 1.1 Definition 1.2 Classification 2. Development Environment of China Chain Catering Industry 2.1 Policy Environment 2.2 Economic Environment 2.3 Social Environment 3. China Catering Industry Development 3.1 Industry Revenue 3.2 Industry Structure 3.3 Development Features 3.4 Operation Analysis of Top 100 Enterprises 4. China Chain Catering Industry Development 4.1 Operation Data for Whole Industry 4.2 Operation Data for Industry Segments 4.2.1 Dinner 4.2.2 Fast Food 4.2.3 Beverage & Cold Drink 4.3 Enterprises’ Profitability 4.4 Enterprises Analysis in Industry Segments 4.4.1 Western Fast Food 4.4.2 Chinese Fast Food 4.4.3 Hot Pot 4.4.4 Chinese Dinner 4.4.4 Chinese Dinner 5. Key Enterprises in Chain Chinese Food Industry 5.1 Quanjude 5.1.1 Profile 5.1.2 Operation 5.1.3 Revenue Structure 5.1.4 Gross Margin 5.1.5 Number of Restaurants 5.1.6 Clients 5.1.7 Projects 5.1.8 Competitiveness 5.1.9 Strategy 5.1.10 Performance Forecast 5.2 Xiangeqing 5.2.1 Profile 5.2.2 Operation 5.2.3 Revenue Structure 5.2.4 Gross Margin 5.2.5 Number of Restaurants 5.2.6 Suppliers 5.2.7 Acquisition 5.2.8 Performance Forecast 5.2 Maoge Food 5.3 Ajisen China 5.3.1 Profile 5.3.2 Operation 5.3.3 Number of Restaurants 5. Key Enterprises in Chain Chinese Food Industry 5.1 Quanjude 5.1.1 Profile 5.1.2 Operation 5.1.3 Revenue Structure 5.1.4 Gross Margin 5.1.5 Number of Restaurants 5.1.6 Clients 5.1.7 Projects 5.1.8 Competitiveness 5.1.9 Strategy 5.1.10 Performance Forecast 5.2 Xiangeqing 5.2.1 Profile 5.2.2 Operation 5.2.3 Revenue Structure 5.2.4 Gross Margin 5.2.5 Number of Restaurants 5.2.6 Suppliers 5.2.7 Acquisition 5.2.8 Performance Forecast 5.2 Maoge Food 5.3 Ajisen China 5.3.1 Profile 5.3.2 Operation Room 502, Block 3, Tower C, Changyuan Tiandi Building, No. 18, Suzhou Street, Haidian District, Beijing, China 100080 Phone: +86 10 82600828 ● Fax: +86 10 82601570 ● www.researchinchina.com ● report@researchinchina.com
  6. 6. Table of contents 5.3.3 Number of Restaurants 5.4 ZKungfu 5.5 Mr. Lee 5.5.1 Profile 5.5.2 Number of Restaurants 5.6 Xiao Nan Guo 5.6.1 Profile 5.6.2 Development Course 5.6.3 Operation 5.6.4 Number of Restaurants 5.6.5 Competiveness and Strategy 5.7 Huangjihuang 5.8 Da Niang Dumpling 5.9 Beijing Yoshinoya 5.10 Country Style Cooking (CSC) 5.10.1 Profile 5.10.2 Operation 5.10.3 Number of Restaurants 5.10.4 Strategy 5.11 Yonghe King 5.11.1 Profile 5.11.2 Number of Restaurants 5.12 Tang Palace (China) 5.12.1 Profile 5.12.2 Operation 5.12.3 Number of Restaurants 5.12.4 Performance Forecast 6. Key Enterprises in Chain Hot Pot Industry 6.1 Little Lamb 6.1.1 Profile 6.1.2 Number of Restaurants 6.1.3 Development Plan 6.2 Hai Di Lao Hot Pot 6.2.1 Profile 6.2.2 Development Course 6.2.3 Operation 6.3 Liuyishou Hot Pot 6.4 Dezhuang Industrial 6.4.1 Profile 6.4.2 Number of Restaurants 6.5 Grassland Pastoral Catering 6.6 Donglaishun 6.7 Qinma 6.8 Xiabu Xiabu 6.9 Chongqing Joy Cygnet Dining 7. Key Enterprises in Chain Western Food Industry 7.1 YUM! Restaurants (China) 7.1.1 Profile 7.1.2 Development Course 7.1.3 Operation 7.1.4 Number of Restaurants 7.1.5 Brands Operation 7.1.6 Development Plan 7.2 Mcdonald’s 7.2.1 Profile 7.2.2 Operation 7.2.3 Number of Restaurants 7.3 Dicos 7.3.1 Profile 7.3.2 Number of Restaurants 7.3.3 Development Goal 7.4 C. Straits Cafe 7.5 Dio Coffee 7.6 JOYCALLER 8. Market Review and Forecast of China Chain Catering Industry 8.1 Market Review 8.2 Development Forecast 8.2.1 Favorable Factors 8.2.2 Development Trends 8.2.3 Revenue Forecast of Catering Industry 8.2.4 Forecast of Revenue and Number of Restaurants of Chain Catering Industry Room 502, Block 3, Tower C, Changyuan Tiandi Building, No. 18, Suzhou Street, Haidian District, Beijing, China 100080 Phone: +86 10 82600828 ● Fax: +86 10 82601570 ● www.researchinchina.com ● report@researchinchina.com
  7. 7. Selected Charts • • • • • • • • • • • • • • • • • • • • • • • • • Classification of Catering Industry in China Major Chain Ways of Catering Policies and Regulations on China Chain Catering Industry, 2012-2013 YoY Change of GDP in China, 2005-2013 Per Capita Consumer Spending and Spending on Eating out in Urban Households in China, 1995-2012 Urbanization in China, 1949-2012 Catering Revenue in China, 2002-2013 Revenue and YoY Change of Catering Enterprises above Designated Size, 2011-2013 YoY Change of Catering Industry Revenue and Total Volume of Retail Sales, 2003-2013 Number Structure of Catering Enterprises in China, 2012 Number Structure of Catering Employees in China, 2012 Revenue Structure of Catering Enterprises in China, 2012 Revenue and YoY Change of Catering Enterprises above Designated Size (by Provinces/Cities) in China, 2012 Volume Structure of E-commerce Transaction of Catering Enterprises, 2012 (by Industry Segments), 2012 TOP 20 Catering Enterprises in China, 2012 Revenue and YoY Change of Chain Catering Enterprises above Designated Size in China, 2009-2013 Number of Restaurants of Chain Catering Enterprises above Designated Size in China, 2003-2013 Revenue Structure of Chain Catering Enterprises above Designated Size in China, 2012 Revenue and YoY Change of Chain Dinner Enterprises above Designated Size in China, 2003-2012 Number of Restaurants of Chain Dinner Enterprises above Designated Size in China, 2003-2013 Revenue and YoY Change of Chain Fast Food Enterprises above Designated Size in China, 2003-2012 Number of Restaurants of Chain Fast Food Enterprises above Designated Size in China, 2003-2012 Revenue and YoY Change of Chain Beverage & Cold Drink Enterprises above Designated Size in China, 2005-2012 Number of Restaurants of Chain Beverage & Cold Drink Enterprises above Designated Size in China, 2005-2012 YoY Change of Revenue and Net Income of Major Listed Companies in China Chain Catering Industry, 2013 Room 502, Block 3, Tower C, Changyuan Tiandi Building, No. 18, Suzhou Street, Haidian District, Beijing, China 100080 Phone: +86 10 82600828 ● Fax: +86 10 82601570 ● www.researchinchina.com ● report@researchinchina.com
  8. 8. Selected Charts • • • • • • • • • • • • • • • • • • • • • • • • • Revenue and Net Income of Major Listed Companies in China Chain Catering Industry, 2013 Number of Restaurants of Western Fast Food Brands in China (as of Sep 2013) Number of Restaurants of KFC and McD in China, 2001-2013 Number of Restaurants of KFC and McD in China (by Cities), 2013 Number of Restaurants of Chinese Fast Food Brands in China Number of Restaurants of Fast Food Brands in Chongqing and Sichuan (as of Sep 2013) Number of Restaurants of Hot Pot Enterprises in China, 2012 Dinner Enterprises’ Expansion Cases in Public Catering Field in China, 2012-2013 Number of Restaurants of Dinner Enterprises in China Revenue and Net Income of Quanjude, 2009-2013 Revenue Structure of Quanjude (by Segments), 2009-2013 Revenue Breakdown of Quanjude (by Regions), 2013H1 Gross Margin of Catering Business of Quanjude, 2009-2013 Number of Restaurants of Quanjude (by Types), 2009-2013 Quanjude’s Revenue from Top 5 Clients and % of Total Revenue, 2013H1 Quanjude’s Projects Quanjude’s Equity Change before and after Non-public Offering Revenue and Net Income of Quanjude, 2013E-2016E Four Divisions of Xiangeqing Equity Structure of Xiangeqing Revenue and Net Income of Xiangeqing, 2009-2013 Revenue Breakdown of Xiangeqing (by Segments), 2009-2013 Revenue Structure of Xiangeqing (by Regions), 2011-2013 Revenue and YoY Change of Xiangeqing (by Regions), 2013H1 Gross Margin of Catering Business of Xiangeqing, 2009-2013 Room 502, Block 3, Tower C, Changyuan Tiandi Building, No. 18, Suzhou Street, Haidian District, Beijing, China 100080 Phone: +86 10 82600828 ● Fax: +86 10 82601570 ● www.researchinchina.com ● report@researchinchina.com
  9. 9. Selected Charts • • • • • • • • • • • • • • • • • • • • • • • • • Gross Margin of Restaurants of Xiangeqing (by Regions), 2012-2013 Xiangeqing’s Procurement from Top 5 Suppliers and % of Total Procurement, 2012 Acquisition Cases of Xiangeqing, 2012-2013 Revenue and Net Income of Xiangeqing, 2013E-2016E Restaurants Distribution of Ajisen China, 2012 Four Production Bases of Ajisen China Revenue and Net Income of Ajisen China, 2011-2013 Revenue Breakdown of Ajisen China (by Segments), 2011-2013 Gross Margin of Ajisen China, 2011-2013 Number of Restaurants of Ajisen China, 2011-2013 Number of Restaurants of Ajisen China (by Provinces/cities), 2012-2013 Number of Restaurants of Ajisen China by Regions), 2012-2013 Number of Restaurants of ZKungfu, 2008-2013 Development Course of Mr. Lee Number of Restaurants of Mr. Lee in China (by Regions) Restaurants Distribution of Xiao Nan Guo in China Contrast among Three Brands of Xiao Nan Guo Development Course of Xiao Nan Guo Revenue and Net Income of Xiao Nan Guo, 2009-2013 Gross Margin of Xiao Nan Guo, 2009-2013 Number of Restaurants and Revenue of Xiao Nan Guo (by Brands), 2011-2013 Revenue and Net Income of Xiao Nan Guo, 2013E-2016E Operating Indicators of Da Niang Dumpling, 1996-2012 Number of Restaurants of Da Niang Dumpling (by Regions) in China Number of Restaurants of Beijing Yoshinoya (by Regions) in China Room 502, Block 3, Tower C, Changyuan Tiandi Building, No. 18, Suzhou Street, Haidian District, Beijing, China 100080 Phone: +86 10 82600828 ● Fax: +86 10 82601570 ● www.researchinchina.com ● report@researchinchina.com
  10. 10. Selected Charts • • • • • • • • • • • • • • • • • • • • • • • • • Chinese Fast Food Brands of CSC Revenue and Net Profit of CSC, 2009-2013 Revenue Structure of CSC, 2009-2013 (by Restaurants Types) Revenue Structure of CSC (by Regions), 2012-2013 Gross Margin of CSC, 2009-2013 Restaurants Distribution of CSC in China Number of Restaurants of CSC in China, 2009-2013 Number of Restaurants of CSC (by Regions), 2009-2013 Restaurant Expansion Plan of CSC Number of Restaurants of Yonghe King, 2008-2013 Number of Restaurants of Yonghe King (by Types), 2012-2013 Revenue and Net Income of Tang Palace (China), 2011-2013 Per Capita Consumption for Major Brands of Tang Palace (China), 2011-2013 Revenue Structure of Tang Palace (China) (by Brands), 2011-2013 Number of Restaurants of Tang Palace (China), 2013H1 (by Types) Number of Restaurants of Tang Palace (China) (by Brands), 2011-2013 Restaurants Distribution of Tang Palace (China) (by Regions), 2013H1 Revenue and Net Income of Tang Palace (China), 2013E-2016E Number of Restaurants of Little Lamb in China, 2006-2012 Revenue and YoY Change of Little Lamb, 2006-2010 Development Course of Hai Di Lao Hot Pot Number of Restaurants of Hai Di Lao Hot Pot in China (by Regions) Number of Restaurants of Liuyishou Hot Pot in China (by Regions) Development Course of Dezhuang Industrial Dezhuang Industrial’s Subsidiaries Room 502, Block 3, Tower C, Changyuan Tiandi Building, No. 18, Suzhou Street, Haidian District, Beijing, China 100080 Phone: +86 10 82600828 ● Fax: +86 10 82601570 ● www.researchinchina.com ● report@researchinchina.com
  11. 11. Selected Charts • • • • • • • • • • • • • • • • • • • • • • • • • Number of Company-owned Restaurants of Dezhuang Industrial in China (by Regions) Development Course of Grassland Pastoral Catering Development Course of Qinma Restaurants Distribution of Xiabu Xiabu Number of Restaurants of Xiabu Xiabu in China (by Regions) Restaurants Distribution of Chongqing Joy Cygnet Dining in China Development Course of Chongqing Joy Cygnet Dining Brands of YUM! Restaurants (China) Business Distribution of YUM! Restaurants (China) Development Course of Yum! Brands Revenue and Net Income of Yum! Brands, 2010-2013 Revenue and Net Income of YUM! Restaurants (China), 2010-2013 Revenue Breakdown of YUM! Restaurants (China) (by Business Types), 2010-2013 Number of Restaurants of YUM! Restaurants (China) (by Brands), 2009-2013 Number of Restaurants of Yum! Brands and YUM! Restaurants (China), 2009-2013 Number of Restaurants of Yum! Brands (by Types), 2009-2013 Number of Restaurants of YUM! Restaurants (China) (by Types), 2009-2013 Restaurants Penetration of KFC, 2013 Restaurants Penetration of Pizza Hut Delivery, 2013 Number of Restaurants of Pizza Hut in China (as of June 2013) Operation Data of KFC in China New Restaurants Opening Plan of KFC Operation Data of Pizza Hut in China Brands Strategies of YUM! Restaurants (China) New Restaurant Openings of YUM! Restaurants (China), 2013E-2014E Room 502, Block 3, Tower C, Changyuan Tiandi Building, No. 18, Suzhou Street, Haidian District, Beijing, China 100080 Phone: +86 10 82600828 ● Fax: +86 10 82601570 ● www.researchinchina.com ● report@researchinchina.com
  12. 12. Selected Charts • • • • • • • • • • • • • • • • • • • • Operating Profit of YUM! Restaurants (China), 2007-2014E Quick Facts of McDonald's Revenue and Net Income of Mcdonald’s, 2009-2013 Revenue Breakdown of McDonald's (by Ownership Types), 2009-2013 Revenue Structure of McDonald's (by Regions), 2009-2012 Number of Restaurants of Mcdonald’s, 2010-2012 Number of Restaurants of Mcdonald’s (by Ownership Types),2010-2012 Number of Restaurants of Mcdonald’s in China, 2007-2013 Number of Restaurants of Dicos in China, 2000-2013 Restaurants Distribution of C. Straits Café in China Major Brands of Dio Coffee Development Course of Dio Coffee YoY Change of Revenue of Catering Industry and Chain Catering Enterprises above Designated Size in China, 2004-2013 YoY Change of Revenue and Net Income of Major Listed Companies in China Chain Catering Industry, 2013 Dinner Enterprises’ Expansion Cases in Public Catering Field in China, 2012-2013 Construction Plan for City Clusters in China China Consuming Class in 2020 Catering Revenue in China, 2013E-2016E Revenue for Enterprises above Designated Size in China Chain Catering Industry, 2013E-2016E Number of Restaurants for Enterprises above Designated Size in China Chain Catering Industry, 2013E-2016E Room 502, Block 3, Tower C, Changyuan Tiandi Building, No. 18, Suzhou Street, Haidian District, Beijing, China 100080 Phone: +86 10 82600828 ● Fax: +86 10 82601570 ● www.researchinchina.com ● report@researchinchina.com
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