Changes in Hong Kong stocks | Haidilao (06862) fell more than 3% to a new low in nearly four years, Citi said the August turnover rate was lower than expected, and the majority shareholders reduced their holdings and increased negative sentiment

The Zhitong Finance App learned that Haidilao (06862) fell more than 3% in the intraday period, hitting a new low since November 2022. As of press release, it decreased by 2.97% to HK$8.995, with a turnover of HK$83.834 million.

Citi recently released a research report saying that according to Haidilao's communication with investors, the company's monthly turnover rate in August fell by a single digit year on year. Compared with management's performance in the first half of the year, the turnover rate for the first three weeks of August was lower by one digit year-on-year, and the performance was lower than expected. The bank believes that the weekly turnover rate in August fluctuated more than expected, reflecting a weak overall consumption environment.

Notably, on September 8, controlling shareholder member Shu Ping (founder Zhang Yong's wife) sold about 259 million shares, equivalent to about 4.7% of the shares, further increasing the negative sentiment of the market about the stock. The selling price is about 20% lower than Zhang Yong's repurchase price in late May. After the sale, the total shareholders' shareholding fell from about 50.2% to about 45.5%. The controlling shareholders expressed full confidence in the company's business prospects, growth potential and long-term value.