January 29, 2023

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Chinese language sizzling pot eating place chain Haidilao introduced on Tuesday that its Deputy CEO and COO Yang Lijuan has now been named the brand new CEO, whilst Zhang Yong, Chairman of the Board and previous CEO of the corporate, will proceed to function Chairman of the Board and Government Director.

The corporate mentioned that as Yang has now been appointed CEO, she can be accountable for supervising the control and strategic construction of the corporate, in addition to the implementation and promotion of its “Woodpecker Undertaking.” This appointment additionally serves as one of the crucial primary measures to beef up the corporate’s inner governance construction.

In 2021, because of Haidilao’s speedy growth and the affect of the COVID-19 pandemic, its operations failed to satisfy objectives. On November 5, 2021, the corporate issued a statement on the Hong Kong Inventory Alternate (HKEx), announcing that Yang was once totally accountable for the so-called “Woodpecker Undertaking.” As well as, the corporate affirmed it might steadily be aware of places displaying deficient trade efficiency, together with in a foreign country ones, and had taken measures for his or her integration. Tuesday’s announcement additionally confirmed that the inner control and operation of the corporate were progressed considerably for the reason that implementation of this challenge.

In step with assets, because the chief of the “Woodpecker Undertaking,” Yang has all the time performed crucial position within the corporate’s operational control. Prior to now a waiter, she has labored on the corporate for 27 years and is a key determine for the corporate’s departure from its origins in Sichuan and the improvement of operations within the nationwide marketplace.

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As well as, Li Yu now serves because the COO of the corporate for mainland China, whilst Wang Jinping was once appointed as the corporate’s COO for Hong Kong, Macao, Taiwan and different in a foreign country areas. As a part of the company’s core staff, 36-year-old Li Yu and 38-year-old Wang Jinping will help the CEO to give a boost to the operational potency of the company in numerous areas, and to beef up its supervision and implementation.

On February 21, the corporate introduced that it’s anticipated to file a internet lack of between 3.8 billion yuan ($601.9 million) and four.5 billion yuan ($712.8 million) for the 12 months finishing December 31, 2021. In step with the corporate, this was once principally because of the closure of greater than 300 eating places in 2021 and a decline in working efficiency.

SEE ALSO: Haidilao Expects $600 Million Loss in 2021

In February 2021, the corporate’s proportion value reached a file prime of HK$85.75 ($10.97) in step with proportion, and its overall marketplace worth was once as soon as as regards to HK$470 billion. Alternatively, after those feats had been achieved, the figures started to say no sharply, and its present proportion value stands at simply HK$17.88 with a marketplace worth of HK$99.663 billion.