Aug 16, 2022 08:04 PM

Haidilao’s Profit Warning Has a Silver Lining for Investors

What’s new: Haidilao International Holding Ltd. estimates it swung back to a loss in the first half of 2022 as the Chinese hotpot chain downsized its business in ways that cheered investors enough to send its stock price soaring.

In an exchange filing on Sunday, Hong Kong-listed Haidilao predicted it will report a net loss of between 225 million yuan ($33 million) and 297 million yuan for the six months through June, as compared with last year’s first-half profit of 96.5 million yuan. It expected first-half revenue to fall up to 17% year-on-year to 16.7 billion yuan.

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