China's hotpot chain Haidilao rises as co swings to profit

Haidilao International Holding

31/03/2023 04:24

** Shares of China's hotpot chain Haidilao International
Holding  6862.HK  rise as much as 5% to HK$22.15, their highest
since March 15
    ** Stock on course for a fourth session of gains and is the
fourth-biggest pct gainer in Hang Seng Commerce & Industry Index
 .HSNC  and fifth-biggest gainer in Hang Seng China Enterprises
Index  .HSCE  
    ** Haidilao posts 1.37 bln yuan ($199.78 mln) profit for
2022, versus a 4.16 bln yuan loss in 2021. Co says it will seek
to acquire high-quality assets to further diversify its
restaurant business patterns and customer base
    ** Super Hi International  9658.HK , which oversees all
Haidilao restaurants outside of Chinese territories, expects to
return to profit this year after posting almost 80% year-on-year
growth in revenue for 2022 
    ** Super Hi stock rises as much as 4.3% 
    ** Hang Seng Commerce & Industry Index  .HSNC  jumps 2% and
Hang Seng Consumption Index  .HSCGSI  gains 1.1%
    ** Hang Seng China Enterprises Index  .HSCE  rises 1.5% and
Hang Seng Index  .HSI  climbs 1.3%
    

     ($1 = 6.8575 Chinese yuan)

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