Financial Risk Management in the Catering Industry: A Case of Haidilao

초록

Amidst China’s consumption upgrading and urbanisation, the catering industry exhibits rapid yet high-risk growth. We are designed a multi-theoretical framework—integrating the COSO ERM model, the Resource-Based View, and Core Competence Theory—to conduct a case analysis of Haidilao. Using comparative and longitudinal data from 2017 to 2023, we identified significant volatility across five dimensions: liquidity, solvency, operational efficiency, profit fluctuations, and asset returns. The findings indicated that while digital transformation facilitated post-pandemic recovery, vulnerabilities remain in cash flow early-warning and dynamic monitoring systems. Accordingly, we proposed targeted strategies, including enhancing debt repayment early-warning mechanisms, optimising the capital structure and supply chain, and establishing a digital monitoring platform. These measures are aimed at strengthening financial resilience and ensuring sustainable growth. We contributed novel empirical insights to the literature on financial risk management in the catering services sector and offers practical implications for industry practitioners.

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