Haidilao Tastes Profit Success With Budget Hotpot Chain [Seeking Alpha]
CITIC SECURITIES UNSP/ADR (CIIHY)
NASDAQ:AMEX Investor Relations:
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Source: Seeking Alpha
The hotpot leader has rolled out cheaper options to tempt budget-conscious consumers in China's weakening economy. Analysts are generally upbeat about Haidilao's prospects for continued recovery. The Chinese restaurant sector is continuing a run of upbeat results and earnings forecasts, with hotpot giant Haidilao saying its profits surged last year. As China's dining-out industry rebounds from the depths of the pandemic, the hotpot chain Haidilao International Holdings Ltd. OTCPK:HDALF ) (6862.HK) has come to the table with a forecast of surging annual profits. The earnings for last year, once finalized, will add to a banquet of appetizing results from popular restaurant brands that have made it through the Covid crisis. Earlier this month, the operator of China's Pizza Hut and KFC outlets, Yum China YUMC ; 9987.HK), posted an 87% year-on-year jump in annual profits to $827 million. Chains selling Chinese cuisine are also whetting appetites with talk of strong earnings reco
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