China's Haidilao jumps most in over 11-months on robust earnings forecast

Haidilao International Holding

27/02/2023 02:46

** Shares of China's hot pot restaurant chain Haidilao
International Holding Ltd  6862.HK  jump as much as 20.2% to
HK$23.15, and on course for the biggest daily pct rise since
March 16, 2022, if gains hold
    ** Stock hit the highest since Jan. 30; biggest pct gainer
in Hang Seng Index  .HSI , Hang Seng China Enterprises Index
 .HSCE  and Hang Seng Composite Index  .HSCI  
    ** Beijing-based company expects to record a net profit of
no less than 1.3 bln yuan ($186.9 mln) for 2022, as compared to
4.16 bln yuan loss in 2021, as operating performance of its
restaurants improves with ease of COVID-19 pandemic since June
2022 
    ** Haidilao expects its business performance to improve
further following adjustment of the COVID-19 control measures in
mainland China in December 2022 
    ** CMB International maintains "buy" rating saying it is a
strong beat in 2H22E and the brokerage is positive about
Haidilao's business ahead
    ** Nomura maintains "neutral" saying it is a
better-than-expected profitability 
    ** Hang Seng Consumption Index  .HSCGSI  and Hang Seng China
Enterprises Index  .HSCE  both climbs 0.1% 
    ** Hang Seng Composite Index  .HSCI  eases 0.3% and Hang
Seng Index  .HSI  slips 0.1% 
 ($1 = 6.9569 Chinese yuan)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))