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【Brokerage Focus】 Guosheng Securities maintains a "Shareholding" rating for HAIDILAO (06862), pointing out that the pomegranate plan is expected to steadily improve the overall service quality of the group.
Jinwu Financial News | Guosheng Securities released a Research Report indicating that HAIDILAO (06862) will announce its 2024 performance on March 25, 2024, achieving revenue of 42.755 billion yuan, up 3.1% year-on-year, net income of 4.708 billion yuan, up 4.6% year-on-year, and core operating profit of 6.23 billion yuan, up 18.7% year-on-year; among them, for the second half of 2024, revenue is expected to be 21.264 billion yuan, down 5.8% year-on-year, net income of 2.67 billion yuan, up 19.1% year-on-year, and core operating profit of 3.431 billion yuan, up 23.9% year-on-year, with profit performance exceeding expectations. Looking at it by Business,
HAIDILAO (06862.HK): The profit performance in H2 2024 exceeded expectations, continuously focusing on Shareholder returns.
Event: On March 25, the company announced its performance for 2024, achieving revenue of 42.755 billion yuan, +3.1% year-on-year, with a net income of 4.708 billion yuan, +4.6% year-on-year, and core operation profit.
[Brokerage Focus] Puyin International maintains a "Buy" rating on HAIDILAO (06862), as the company is expected to benefit from short-term policy stimulating in the future.
Jinwu Financial News | According to a Research Report from浦银国际, due to competition and economic environment impacts, HAIDILAO (06862) had a table turnover rate in January-February 2025 that decreased by a low single-digit percentage year-on-year, with a higher single-digit percentage decrease in March. Considering that HAIDILAO's turnover rate in 2024 shows a trend of high in the beginning and low afterwards, and with further release of national consumer promotion policies, the firm does not rule out the possibility of a better year-on-year performance trend for HAIDILAO's turnover rate in 2025. Due to HAIDILAO's turnover rate of 4.1x in 2024 already being at a high level, the firm expects limited room for improvement in the turnover rate for 2025, year-on-year.
Hong Kong stocks are moving differently | Dining stocks collectively decline, first-quarter performance of Dining enterprises may be under pressure, Institutions say competition in the Industry has gradually eased.
Dining stocks fell collectively. As of the time of writing, Hailunsi (09869) dropped by 5.36%, reported at 1.59 HKD; Xiaocaiyuan (00999) fell by 4.92%, reported at 9.28 HKD; JIUMAOJIU (09922) decreased by 2.69%, reported at 2.53 HKD.
The Ministry of Commerce and nine other departments issued an action plan to enhance service Consumer and benefit the public.
Recently, the Ministry of Commerce and nine other departments jointly issued the "2025 Work Plan for Improving Service Consumption and Benefiting the People." This plan proposes 48 specific tasks and measures focused on six areas: strengthening policy support, conducting promotional activities, building platform carriers, expanding opening up to the outside world, enhancing standard leadership, and optimizing the consumption environment. It covers major industry sectors such as Dining, Lodging, Health, Culture and Entertainment, Travel & Leisure, and Sports events, as well as new formats and scenes like tourist trains, aerial sightseeing, skydiving, ultra-high-definition Television, and micro-short plays. The "Work Plan" emphasizes coordinating domestic and international dual circulation and insists on leveraging both supply and demand sides through external outreach.
HAIDILAO (6862.HK): Short-term revenue remains steady, and multi-brand collaboration opens up long-term profit margin enhancement space.
Based on the performance in Q1 2025, a rational view on the revenue outlook for 2025: Affected by competition and the economic environment, HAIDILAO's brand table turnover rate for January-February 2025 decreased by a low single digit year-on-year, while in March, the turnover rate decreased by a high single digit year-on-year.