[SHANGHAI] China's largest hotpot chain is whetting the appetite of investors as well as diners. Read more at The Business Times.
[SHANGHAI] China's largest hotpot chain is whetting the appetite of investors as well as diners.
The stock gained as much as 2.4 per cent in early Hong Kong trading on Tuesday.
The Sichuan-based firm is the market leader in hotpot in China, a segment that accounts for almost 14 per cent of the country's US$21 billion restaurant scene, according to data from Frost & Sullivan.
The projected rapid growth of hotpot in China is also expected to benefit Haidilao by shoring up its front-runner status, said analysts.
While the Chinese economy is growing at its slowest pace in three decades and consumer confidence is waning, the food industry is still relatively insulated. Amid a sluggish world economy and geopolitical uncertainty, Haidilao's revenue is projected to grow 60 per cent this year and 40 per cent next year, according to analyst estimates compiled by Bloomberg.
In comparison, revenue at Xiabuxiabu Catering Management China Holdings - the other Chinese hotpot stock - has doubled over the same period while profit rose 63 per cent.
Haidilao is also expanding overseas. In April, it opened a London outlet, bringing its tally of stores outside China to 46.Read more: The Business Times
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