According to a report published by UBS, Haidilao's performance for the first half of the year was in line with expectations. Revenue and profit increased 8% and remained flat, respectively, to 22.3 billion yuan and 1.8 billion yuan; profit before interest and tax increased 9% year over year, 3% higher than the bank's forecast; the EBIT profit margin was also 0.4 percentage points higher than the bank's forecast, and gross margin was also 0.4 percentage points higher. The dividend payout ratio was about 100%, up from 95% in the first half of last year, and exceeded the bank's expectations. Haidilao's operating performance from July to August was better than the bank's expectations, and operating profit margins in the first half of the year still showed resilience in the face of macroeconomic uncertainty. UBS lowered Haidilao's 2026-2028 earnings forecast per share by 4% to 6% to reflect a decrease in other earnings and an increase in operating expenses. The target price was lowered from HK$17.16 to HK$16.3, maintaining a “buy” rating.

According to a report published by UBS, Haidilao's performance for the first half of the year was in line with expectations. Revenue and profit increased 8% and remained flat, respectively, to 22.3 billion yuan and 1.8 billion yuan; profit before interest and tax increased 9% year over year, 3% higher than the bank's forecast; the EBIT profit margin was also 0.4 percentage points higher than the bank's forecast, and gross margin was also 0.4 percentage points higher. The dividend payout ratio was about 100%, up from 95% in the first half of last year, and exceeded the bank's expectations. Haidilao's operating performance from July to August was better than the bank's expectations, and operating profit margins in the first half of the year still showed resilience in the face of macroeconomic uncertainty. UBS lowered Haidilao's 2026-2028 earnings forecast per share by 4% to 6% to reflect a decrease in other earnings and an increase in operating expenses. The target price was lowered from HK$17.16 to HK$16.3, maintaining a “buy” rating.