S&P Sees Lower Revenue Growth for Haidilao International Holding Amid Weak Catering Market

MT Newswires Live09-02

S&P estimates lower revenue growth for Haidilao International Holding (HKG:6862) in the upcoming periods, adding that the hot pot chain's capacity to retain and expand table turnover will be key for further revenue increase.

Revenue growth will weaken in H2 following a 13.8% year-over-year rise in H1, with S&P revising its forecast for the metric to 9% in 2024 and 4% in 2025 from the previous 12% and 8%.

The company faces softness in China's catering market, with customers exhibiting lower spending per meal and a preference for cheaper eating options, S&P said in a Friday note.

The rating agency does not expect the trends to impact Haidilao's credit profile as it is expected to sustain its table turnover and temper its store growth.

Price (HKD): $13.16, Change: $+0.040, Percent Change: +0.30%

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