Fujian Wallace Food Co., Ltd. (),"cnhls.com" (Archive) Pagestats.info. Retrieved on March 14, 2014. "Registrant Organization ......... Wallace, Fujian Food Co., Ltd. Registrant Address .............. Fuzhou Taijiang tongde, Road 226, Palit Park, Building 13, the southern half of the three-tier" doing business as Wallace (), previously as CNHLS, is a fast food chain in China. Its head office is in Taijiang District, Fuzhou, Fujian."关于我们" (Archive) CNHLS. Retrieved on March 14, 2014. "总部位于福建省福州市[...]"Home page. (). Wallace (CNHLS). March 24, 2007. Retrieved on March 14, 2014. "地址： 福州市台江区古街瀛洲路23号A座2层""联系我们" () CNHLS. May 23, 2006. Retrieved on March 14, 2014. "华莱士食品连锁机构 [...]地 址：福州市台江区古街瀛洲路23号A座2层""." China Job Bank. Retrieved on April 11, 2014. "单位地址： 福建省福州市台江区同德路226号同德园13号楼南半部三层（心家泊小区对面苍霞街道办事处三楼）"
CNHLS's sales reached $407 million USD in 2010, an increase of 416% over its 2007 total. In 2012, the company had about 3,000 restaurants, and this number grew to about 4,000 in 2013. The restaurant was No. 2 in the China Daily list of the "Top 10 fast-food chains in China"."No 2 Hua Lai Shi" (Archive). China Daily. July 28, 2014. Retrieved on September 8, 2014.
History In January 2001, Hua Huaiyu and Hua Huaiqing, originally from Wenzhou, opened the first Wallace fast-food restaurant in Fuzhou, near Fuzhou Normal University. Initially, they mimicked the menu and prices of Western giants KFC and McDonald's, but customers preferred the original establishments. The brothers then launched a "Special 1-2-3 Price" promotion (1 yuan for a Coke, 2 yuan for chicken thighs, and 3 yuan for a hamburger), which doubled their sales.
Since 2005, Wallace has rapidly expanded its affordable, Western-style fast-food chain, leasing small spaces in shopping malls and residential complexes, as well as around universities and colleges, while offering the lowest franchise fees. In 2010, Wallace sales reached $407 million, a 416% increase over 2007. By 2012, the company had approximately 3,000 chain restaurants, a number that increased to approximately 4,000 in 2013.
In January 2014, the number of Wallace restaurants nationwide exceeded 4,800, surpassing KFC's 4,600 restaurants for the first time. The company's sales reached $600 million, but net profit remained low due to its pricing policy. In April 2016, Hua Lai Shi listed on the National Exchange of Securities and Quotations in Beijing (NEEQ). By the end of 2018, the number of Wallace restaurants had reached 10,000.
In 2021, Hua Lai Shi ranked among the top ten largest restaurant chains in China. At the beginning of 2023, Wallace's number of establishments exceeded 20,000 (in terms of network size, the company ranked first in China, significantly surpassing its closest competitors, KFC and McDonald's).
References
External links
Wallace 华莱士快餐官方网站 (CNHLS Restaurant Network) Wallace on Sina Weibo "福建省华莱士食品有限公司" (Archive). Fujian Agriculture and Forestry University Food Product Science College ().