[ET Net News Agency, 9 July 2020] Macquarie Research lifted its target price for
Haidilao International Holding (06862) to HK$40.3 from HK$39.1 and maintained its
"outperform" rating.
The research house expects Haidilao to incur a loss of Rmb983m in 1H, due to the
COVID-19. After a tough 1H, Macquarie believes the company has gradually returned to
profit from May onwards.
Despite COVID-19 disruptions, Haidilao was still able to open 150-200 stores in 1H,
which partially offset sales lost during the 1.5-month store closure. As such, Macquarie
believes the full-year target to open 303 stores can be achieved.
Meanwhile, sales continue to see a sequential recovery with June tracking at 80% of the
normalized level. Region-wise, southern regions are seeing a faster rebound compared to
northern regions. With regard to staff expenses, management hopes to optimize expenses by
reallocating manpower in existing stores during off-peak times to new stores. (KL)
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06862 HAIDILAO
Nominal 
16.400 -0.820 (-4.762%) Research Report
09/07/2020 16:58
{I-bank focus}Macquarie lifts Haidilao (06862) to HK$40.3
| Remark: | Real time quote last updated: 16/04/2024 17:59 |
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