Key Takeaways:
- Jiumaojiu said its revenue and profit rose at least 50% and 166% last year, respectively, as diners flocked to its popular Tai Er ‘sauerkraut fish’ restaurants
- Rival Haidilao said it will report a 3.8 billion yuan to 4.5 billion yuan loss for 2021, its first-ever loss since its 2018 IPO, following an overly aggressive expansion
