I want to ask about the development trend of catering in the next few years.

The total scale has rebounded rapidly.

In recent years, the overall scale of catering industry in China has shown a growing trend. According to the data of the National Bureau of Statistics, from 20 1 1 to 20 19, the year-on-year growth rate of China's catering revenue has been higher than that of the total retail sales of social consumer goods. In 20 19, China's catering industry realized revenue of 4,672.070 billion yuan, up 9.38% year-on-year, accounting for 1 1.35% of the total retail sales of social consumer goods. In 2020, with the outbreak of COVID-19 epidemic, the daily operation of catering industry was restricted, and the annual catering income decreased by about 15% compared with 20 19.

20021With the gradual control of the epidemic in COVID-19, China's catering industry has recovered to the pre-epidemic level, and its revenue growth is 6. 1 percentage point ahead of the total retail sales of social consumer goods again, and the total revenue scale has rebounded to 4,689.5 billion yuan.

Dinner accounts for more than half.

At present, the catering industry in China can be divided into four categories according to the catering format, including dinner, fast food, leisure catering and others. Among them, fast food and leisure catering, as the supplementary fields of China catering industry's dinner market, have developed rapidly in recent years, and their forms are gradually diversified.

Specific to the composition of the catering industry, according to yost Sullivan's statistics, at present, the catering industry in China is still dominated by dinner. Since 20 16, the market share of New Year's Eve dinner has remained above 50%; The proportion of fast food and leisure catering is about 20% and 10% respectively. By 20021,the market share of national New Year's Eve dinner was 57.25%, ranking first; The market share of fast food and leisure catering is 23.39% and 12.53% respectively.

The scale of fast food market has exceeded one trillion yuan.

Specifically, dinner is a full-service catering format with heavy service and long consumption time. Generally, it is only served at fixed lunch and dinner time, not all day. Judging from China's eating habits and consumption demand, the leading position of dinner in China's catering industry is hard to shake.

Since 20 16, the scale of China dinner market has maintained a steady growth momentum, from 2.08 trillion yuan in 20 16 to 2.69 trillion yuan in 20 19. In 2020, affected by the epidemic, the development of the national New Year's Eve market was blocked. By 20021,with the gradual control of the domestic epidemic situation, the scale of the national New Year's Eve market rebounded, once again exceeding 2.6 trillion yuan, increasing to 2,684.8 billion yuan, up by 19.50% year-on-year.

Fast food is a limited service catering format with light service and short consumption time. It provides fast and consistent food and services, and usually has a customized platform specially designed for fast and efficient ordering, cooking and dining.

Since 20 16, the scale of fast food market in China has maintained a steady growth momentum. In 20 19, the market scale exceeded one trillion for the first time. In 2020, affected by the COVID-19 epidemic, the scale of fast food market declined. By 20021,with the gradual control of the domestic epidemic situation, the scale of the national fast food market rebounded, once again exceeding one trillion yuan, increasing to 1097 1 billion yuan, with a year-on-year increase of 17.54%.

—— For more research and analysis of this industry, please refer to the Development Prospect and Investment Forecast Analysis Report of China Catering Industry by Forward-looking Industry Research Institute.