Amid slowing hotpot growth in China, Haidilao takes on biggest American burger brands

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 country’s hamburger market is seeing intense competition, with US brand Five Guys opening its first two stores in Beijing on Monday. Hong Kong-listed Haidilao officially...