According to a research report published by Morgan Stanley, demand for dine-in in Haidilao in the second quarter was weaker than expected, and the downward trend in consumption continued. Although Haidilao's turnover rate is more resilient than the market, due to weak industry trends, I believe the company may adopt more prudent network expansion and focus on cost control. Damo lowered Haidilao's revenue forecast for the 2026-27 fiscal year by 3 to 4%, and lowered its net profit forecast by 8%. The target price was lowered from HK$20 to HK$17.5, maintaining the “gain” rating.

According to a research report published by Morgan Stanley, demand for dine-in in Haidilao in the second quarter was weaker than expected, and the downward trend in consumption continued. Although Haidilao's turnover rate is more resilient than the market, due to weak industry trends, I believe the company may adopt more prudent network expansion and focus on cost control. Damo lowered Haidilao's revenue forecast for the 2026-27 fiscal year by 3 to 4%, and lowered its net profit forecast by 8%. The target price was lowered from HK$20 to HK$17.5, maintaining the “gain” rating.