[ET Net News Agency, 27 July 2020] Jefferies Research Yihai International Holding
(01579) with a "hold" rating and a target price of HK$100.
The research house said Yihai is a major hot pot condiment manufacturer in China. Its
close cooperation with Haidilao (06862) and efficient operating mechanism have laid the
cornerstone for its long-term growth.
Backed by the "Haidilao" brand, Yihai is proactively expanding in distribution channels
and new product categories, which will help it to transition its major sales source from
Haidilao stores to third parties. Jefferies forecast a 34% earnings CAGR in 2020-22. (KL)