Chinese hotpot chain Haidilao drops on annual loss forecast on COVID hit

Haidilao International Holding

21/02/2022 06:28

** Shares of Chinese hotpot chain restaurant operator
Haidilao International Holding Ltd  6862.HK  drop 6.8% to
HK$18.82, their biggest daily percentage fall since Nov 22
    ** Stock biggest decliner in Hang Seng Index  .HSI  and Hang
Seng Commerce & Industry Index  .HSNC  
    ** Company expects to post an annual loss of 3.8 bln
yuan-4.5 bln yuan ($600.6 mln-$711.2 mln) for 2021, compared
with 309.5 mln yuan profit in 2020, hit by pandemic-related
lockdowns  urn:newsml:reuters.com:*:nFWN2UV066
    ** Says its results are also hit by one-off losses on
disposal of long-term assets, and impairment losses amid closure
and suspension of operation of more than 300 restaurants in 2021
    ** Hang Seng Commerce & Industry Index  .HSNC  drops 1.8%,
and Hang Seng consumer goods and services index  .HSCGSI  slips
0.8%
    ** Hang Seng China Enterprises Index  .HSCE  falls 1.3%, and
the benchmark Hang Seng Index  .HSI  slides 1.2%



($1 = 6.3271 Chinese yuan renminbi)

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