Today, all three major Hong Kong stock indexes closed down, while the SOE index closed down 0.5% to 6670.At 22, the Hang Seng Technology Index closed down 0.52% to 3989.83 points, Hang Seng Index closes down 0.33% reported 19943.51 points。While the market fell, the catering industry bucked the market, including the bottom of the sea to nearly 14% of the rise led the catering sector。

On the news, on the evening of February 24, Haidilao announced a positive earnings forecast on the Hong Kong Stock Exchange, the announcement data show that Haidilao compared to the year ended December 31, 2021 revenue of 41.1 billion yuan, the group's annual revenue as of December 31, 2022 is expected to be no less than 34.6 billion yuan, a decrease of no more than 15%..8%。

As for the decline in revenue, Haidilao said in the announcement that this was mainly due to the suspension of business or suspension of catering services and reduced passenger flow in certain restaurants in mainland China due to force majeure factors in 2022; and the decrease in the number of stores in the "Woodpecker Program" from January to August 2022 compared to the same period in 2021.。Despite the decrease in revenue, the Group achieved a net loss of RMB41 compared to the year ended 31 December 2021..6.1 billion yuan, the Group expects to achieve a net profit of not less than RMB1.3 billion for the year ended 31 December 2022.。

The announcement also mentioned that the expected profit is mainly due to the improvement measures taken under the "woodpecker" plan to improve the operating efficiency of restaurants; since June 2022, with the easing of force majeure, the company's restaurant business performance in mainland China and other regions has improved significantly;.2.9 billion yuan。

In this regard, the major banks have issued research reports to the sea bottom fishing latest rating and target price, among them, CICC believes that the sea bottom fishing can significantly improve the brand potential energy to continue to improve the turnaround remains to be seen, the follow-up if there is an unexpected turnaround rate recovery or artificial optimization of earnings improvement under most sustainable, or constitute an upward catalyst。Therefore, CICC, based on earnings forecasts and artificial optimization costs exceeded expectations, will be the bottom fishing this year's earnings forecast significantly raised 39% to 3.2 billion yuan, while raising its target price of 10% to HK $23, to maintain its "outperform industry" rating.。

Nomura also released a research report that Haidilao recently released a profit forecast, profitability is ideal, last year's net profit is expected to far exceed the bank and market expectations.。The bank expects that in the second half of last year, Haidilao's adjusted net profit margin may return to the level of the second half of 2020, recovering faster than expected, which is believed to help boost share sentiment.。However, more details are still needed to assess the sustainability of the improvement in profit margins, thus maintaining the "neutral" rating and 17..5 HK $target price unchanged。

Of course, there are big banks that disagree, including Lyon, which released a research report today saying that even if the mainland economy reopens, the slowdown in the recovery from the year to the present is a worrying sign that high growth in the food sector has passed.。As a result, Lyon cut its earnings forecast for this year and next by 17%, lowering its target price from HK $27 to HK $22..HK $7。As the bank believes that Haidilao has strong brand value and believes that it can help when competition eases, it maintains its "outperform" rating.。