(Yicai) Aug. 31 -- Chinese hotpot chain Haidilao International Holding posted a 10-and-half-fold leap in net profit in the first six months from a year ago as China’s restaurant sector leads the recovery of consumption in the country.

Haidilao raked in net profit of CNY2.3 billion (USD310.1 million) in the six months ended June 30, the highest ever for the period and close to the total profit for 2019, according to the Beijing-based firm’s semi-annual earnings report released yesterday. Revenue jumped 24.6 percent to CNY18.9 billion (USD2.6 billion).

Restaurant operator Jiumaojiu International Holdings’ net profit nearly quadrupled in the first six months year on year to CNY222 million (USD30.5 million) and that of Tongqinglou Catering surged almost seven times to CNY146 million.

Peking duck restaurant chain Quanjude turned a profit for the first time in three years, raking in CNY28 million (USD3.8 million) over the period. And another hotpot chain Xiabu Xiabu also managed to return to profit, bagging CNY2.4 million (USD330,133).

The difficult times during the pandemic have become a distant memory as people eat more more frequently. China’s restaurant sector grossed CNY2.4 trillion (USD329.3 billion) in the first six months, a jump of 21.4 percent from the same period last year,

Haidilao’s eateries welcomed 170 million diners in the first half and its table turnover rate rebounded to 3.3 times per day. Beijing-based Xiabu Xiabu’s table turnover rate jumped to 2.4 from 1.9 a year ago, and even reached 4.6 in some of its newly opened restaurants.

As dining out stages a comeback, many restaurant chains are expanding. Xiabu Xiabu opened 140 new outlets in the first half, bringing its total worldwide to 1,094 while Guangzhou-based Jiumaojiu added 67 eateries. Haidilao operated 1,382 restaurants in China as of June 30, 50 more than a year ago.

Editor: Kim Taylor