HK-listed Haidilao falls most in 3 yrs as H1 disappoints

** Shares of China's hot pot chain operator Haidilao International Holding Ltd plunge 20.8% to HK$33, the worst day since listing in Sept. 2018

** Stock falls to the lowest since July 17, 2020; the biggest percentage decliner on the Hang Seng Index

** Beijing-based co expects to post 80 mln yuan-100 mln yuan ($12.34 mln-$15.42 mln) profit for six months ended in June vs 965 mln yuan loss a year earlier, with rev rising 104% ()

** Says H1 did not meet management's expectations and operation needs to be improved, while overseas ops were still suffering from the impact of COVID-19 pandemic

** Citi maintains "neutral" rating on stock, saying Haidilao's preliminary results were significantly below market's expectations with business recovery much slower than expected

** CMB International maintains "buy" on the stock, saying operational numbers should be trending up in H2 while the co is dealing with underperformance by slowing down store expansion

** The Hong Kong Hang Seng consumer goods and services indexfalls 2.3%, and the Hang Seng Composite Index drops 2.8%

** The Hang Seng China Enterprises Index plunges 3.2%, and the benchmark index declines 2.5%

** As of last close, the stock dropped 30.2% this year