Haidilao Investment Return Yet to be Proven -- Market Talk

Dow Jones03-26

0243 GMT - Haidilao's visibility on returns from its new initiatives remains limited, and incremental revenue isn't expected to contribute to near-term profits, Lina Yan, an HSBC analyst, says in a note. While 2H 2025 revenue exceeded expectations, profitability weakened due to the dilution from its low-margin businesses. The Chinese hotpot-restaurant operator's 2025 dividend fell 16%, implying a 93% payout versus 95% in 2024, she says. HSBC expects profit to remain largely flat through 2028. The bank maintains a hold rating and cuts its target price to HK$14.70 from HK$15.10 citing lower 2027 earnings estimates. Shares are down 0.6% at HK$14.14. (venkat.pr@wsj.com)

(END) Dow Jones Newswires

March 25, 2026 22:43 ET (02:43 GMT)

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2622882504?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-03-26 10:43","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2622882504","market":"fut","top_or_hot":-1,"title":"Haidilao Investment Return Yet to be Proven -- Market Talk","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0243 GMT - <a href=\"https://laohu8.com/S/06862\">Haidilao</a>'s visibility on returns from its new initiatives remains limited, and incremental revenue isn't expected to contribute to near-term profits, Lina Yan, an <a href=\"https://laohu8.com/S/HSBC\">HSBC</a> analyst, says in a note. While 2H 2025 revenue exceeded expectations, profitability weakened due to the dilution from its low-margin businesses. The Chinese hotpot-restaurant operator's 2025 dividend fell 16%, implying a 93% payout versus 95% in 2024, she says. HSBC expects profit to remain largely flat through 2028. The bank maintains a hold rating and cuts its target price to HK$14.70 from HK$15.10 citing lower 2027 earnings estimates. Shares are down 0.6% at HK$14.14. (venkat.pr@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 25, 2026 22:43 ET (02:43 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Haidilao Investment Return Yet to be Proven -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHaidilao Investment Return Yet to be Proven -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-03-26 10:43</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0243 GMT - <a href=\"https://laohu8.com/S/06862\">Haidilao</a>'s visibility on returns from its new initiatives remains limited, and incremental revenue isn't expected to contribute to near-term profits, Lina Yan, an <a href=\"https://laohu8.com/S/HSBC\">HSBC</a> analyst, says in a note. While 2H 2025 revenue exceeded expectations, profitability weakened due to the dilution from its low-margin businesses. The Chinese hotpot-restaurant operator's 2025 dividend fell 16%, implying a 93% payout versus 95% in 2024, she says. HSBC expects profit to remain largely flat through 2028. The bank maintains a hold rating and cuts its target price to HK$14.70 from HK$15.10 citing lower 2027 earnings estimates. Shares are down 0.6% at HK$14.14. (venkat.pr@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 25, 2026 22:43 ET (02:43 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1591","symbol_name":"就地过年概念","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2622882504","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2622882504","pubTimestamp":1774492980,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0243 GMT - Haidilao's visibility on returns from its new initiatives remains limited, and incremental revenue isn't expected to contribute to near-term profits, Lina Yan, an HSBC analyst, says in a note. While 2H 2025 revenue exceeded expectations, profitability weakened due to the dilution from its low-margin businesses. The Chinese hotpot-restaurant operator's 2025 dividend fell 16%, implying a 93% payout versus 95% in 2024, she says. HSBC expects profit to remain largely flat through 2028. The bank maintains a hold rating and cuts its target price to HK$14.70 from HK$15.10 citing lower 2027 earnings estimates. Shares are down 0.6% at HK$14.14. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK1591":"就地过年概念","BK1583":"高瓴概念","LU1267930227.SGD":"TEMPLETON GLOBAL BALANCED \"AS\" (SGD) ACC A","HSBH":"HSBC Holdings plc ADRhedged","BK1604":"节假日概念","LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","06862":"海底捞","BK4521":"英国银行股","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc SGD","LU0211326839.USD":"TEMPLETON GLOBAL INCOME \"A\" (USD) INC","BK4588":"碎股","BK1589":"北水核心资产","LU0496365809.HKD":"TEMPLETON GLOBAL INCOME \"A\" (HKD) INC (Q)","LU0211326755.USD":"TEMPLETON GLOBAL INCOME \"A\" (USD) ACC","LU2236285917.USD":"ALLIANZ GLOBAL INCOME \"AMG\" (USD) INC","BK1233":"餐馆","BK4207":"综合性银行","HSBC":"汇丰","LU2488822045.USD":"ALLIANZ CHINA HEALTHY LIVING \"AT\" (USD) ACC","LU0976567544.SGD":"FTIF - Templeton Global Income A Mdis SGD-H1","BK4585":"ETF&股票定投概念"},"translate_title":"海底捞投资回报有待证明——市场谈","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HSBH":0.6,"06862":0.9,"HSBC":0.79},"content_text":"0243 GMT - Haidilao's visibility on returns from its new initiatives remains limited, and incremental revenue isn't expected to contribute to near-term profits, Lina Yan, an HSBC analyst, says in a note. While 2H 2025 revenue exceeded expectations, profitability weakened due to the dilution from its low-margin businesses. The Chinese hotpot-restaurant operator's 2025 dividend fell 16%, implying a 93% payout versus 95% in 2024, she says. HSBC expects profit to remain largely flat through 2028. The bank maintains a hold rating and cuts its target price to HK$14.70 from HK$15.10 citing lower 2027 earnings estimates. Shares are down 0.6% at HK$14.14. (venkat.pr@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 25, 2026 22:43 ET (02:43 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.40.0","shortVersion":"4.40.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2622882504","isCrawlerRequest":true}