[ET Net News Agency, 26 March 2021] HSBC Global Research cut its target price for
Haidilao International (06862) to HK$38.2 from HK$38.5 and maintained its "reduce" rating.
The research house said Haidilao reported weaker-than-expected results. But HSBC has
given credit to the company's efforts to contain costs, especially on procurement and
staff costs.
Now, HSBC factored in a slower-than-expected recovery in table turn in 2021 but raised
its new net store openings to 527 and 356 in 2021 and 2022 from 371 each year before.
Combining these two factors, it lowered its 2021 revenue by 4.8% and raised 2022 revenue
by 4.4%. Its 2021 and 2022 net profit thus fell by 5.4% and 1.4% respectively. (KL)
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06862 HAIDILAO
Nominal 
16.640 +0.620 (+3.870%) Research Report
26/03/2021 17:51
{I-bank focus}HSBC cuts Haidilao (06862) to HK$38.2
| Remark: | Real time quote last updated: 23/04/2024 17:59 |
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