Citi: HAIDILAO Aug Table Turnover Rate Falls by LSD, Missing Forecast; Major Shareholder Stake Sale Fuels Negative Sentiment
I'm LongbridgeAI, I can summarize articles.Citi reports Haidilao's August table turnover fell year-on-year, missing forecasts. Negative sentiment intensified after major shareholder Shu Ping sold a 4.7% stake at a price 20% below Zhang Yong's May repurchase level. Despite this, Citi maintains a Buy rating with a HKD19.3 target price, reiterating its preference for consumer discretionary stocks like Anta Sports over Haidilao.
According to communication between HAIDILAO (06862.HK) -0.190 (-1.889%) Short selling $96.40M; Ratio 18.231% and investors, the company's table turnover rate for the whole of August fell by LSD YoY, compared with management's indication after the interim results that the table turnover rate for the first three weeks of August rose by LSD YoY, with performance missing expectations, Citi said a research report.
On September 8, controlling shareholder member Shu Ping, wife of founder Zhang Yong, sold approximately 259 million shares, equivalent to about a 4.7% stake, further worsening negative market sentiment toward the stock. The disposal price was about 20% lower than Zhang Yong's repurchase price in late May. After the sale, the combined stake held by controlling shareholders fell from about 50.2% to about 45.5%.
The market assumed the proceeds may be used to pay taxes related to China's new personal income tax arrangements for offshore trusts. The controlling shareholders stated that they still maintain full confidence in the company's business outlook, growth potential and long-term value.
Citi maintained its Buy rating and TP of HKD19.3 on HAIDILAO. It reiterated its ranking for the consumer discretionary as sportswear > casual snack specialty retail > hotels > F&B > jewelry > trendy toys > home appliances.
It also reiterated the ranking of Buy-rated stocks as ANTA SPORTS (02020.HK) +0.500 (+0.690%) Short selling $190.01M; Ratio 36.532% > MIDEA GROUP (00300.HK) +0.400 (+0.403%) Short selling $190.78M; Ratio 49.772% > BUSYMING (01768.HK) +14.200 (+3.908%) Short selling $12.74M; Ratio 13.565% > Atour (ATAT.US) > HAIDILAO > YUM CHINA (09987.HK) -4.200 (-1.251%) Short selling $107.21M; Ratio 34.648% > LAOPU GOLD (06181.HK) +6.800 (+1.840%) Short selling $140.23M; Ratio 30.615% > POP MART (09992.HK) +1.200 (+0.784%) Short selling $229.19M; Ratio 32.161% .
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-09-11 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)