MBHDLIH@EC2608A

Haidilao serves over 14 million customers during the Spring Festival

Guotai Haitong Maintains Positive Rating for Haidilao, Predicts Steady Profit Growth in Next Three Years

Restaurant Industry Shifts to High-Quality Price-to-Value Competition

Haidilao Sub-brands Surge but Some Fail, Zhang Yong Reprises CEO Role

Haidilao Expands into Sweet Drink Shops and Seafood Stalls to Diversify Business

Cold Wave Brings Increased Customers to Haidilao Hotpot Restaurants

Founder Zhang Yong Reassumes CEO Position at Haidilao and Appoints Four Female Executives

High Failure Rate of Restaurants Post-Pandemic

HSBC Raises Target Price for Haidilao International to HKD 15.10

J.P. Morgan Cazenove Predicts Lower Net Profit for H2 2025 for Haidilao

DBS analyst reaffirms buy rating for Haidilao with a target price of HKD 18.30

Haidilao Redeems $285.48 Million in Matures Notes

CLSA Raises Target Price for Haidilao to HKD 18

Zhang Yong Returns to CEO Position at Haidilao

Citi Raises Sales Forecast and Dividend Payout Ratio Predictions for Haidilao

Haidilao Implements 'Plate Scanning Settlement' System to Enhance Experience

National Restaurant Market Sees Significant Consumption Boom During New Year's Holiday

Haidilao has a significant insider shareholding of 69%

CICC Raises Target Price and Maintains Overweight Rating for Haidilao

Haidilao Launches Small Portion Dishes in Multiple Cities

CT IND GROUP

KEEN OCEAN

EPI (HOLDINGS)

MOBI DEV

MS CONCEPT

NANFANG COMM

CCOE

HK ENT INTL

IDT INT'L

PUTIAN COMM

600511

00322

159736

00HSI

06862

The Hang Seng Index closed at 26,765 points, up 175 points or 0.7%; the Hang Seng TECH Index reported 5,260 points, down 10 points or 0.2%. The total market turnover was HKD 236.765 billion. Among the actively traded blue-chip stocks, HAIDILAO rose over 6%, HSBC HOLDINGS, TINGYI, SINOPHARM, TIME INTERCON, and WANGUO GOLD GP all reached new highs

AASTOCKS

SINOPHARM(CNCM LTD)

TINGYI

Tianhong CSI Food and Beverage ETF

China Merchants Guozheng Food and Beverage ETF

Huaan CSI SWS Food and Beverage ETF

ChinaAMC CSI Food & Beverage Sub-Industry ETF

HSBC HOLDINGS

SINOPHARM

Hang Seng TECH Index

TIME INTERCON

Hang Seng Index

Sinopharm Accord

WANGUO GOLD GP

HAIDILAO

The Hong Kong Index closed at 26,765 points, up 175 points; the Hang Seng TECH Index closed at 5,260 points, down 10 points. HAIDILAO rose over 6%. HSBC HOLDINGS, TINGYI, SINOPHARM, TIME INTERCON, and WANGUO GOLD GP reached new highs with active trading

YUMC

00291

09987

02020

02331

Daiwa Capital Markets released a research report indicating that the growth momentum of the consumption market during the Spring Festival holiday is improving, showing initial signs of recovery in consumer markets. The firm is optimistic about industries such as dining, services, and experiential consumption, with top picks including ANTA SPORTS, CHINA RES BEER, HAIDILAO, and YUM China, all rated as "Buy." At the same time, it adjusted the target prices for some stocks, raising HAIDILAO's target price to RMB 19.7, LI NING to RMB 21.6, and Kweichow Moutai to RMB 1,682

YUM China

CHINA RES BEER

YUM CHINA

ANTA SPORTS

LI NING

Daiwa Capital Markets: The consumption momentum during the Spring Festival holiday is improving, with a preference for ANTA, CHINA RES BEER, HAIDILAO, and YUM China

513130

03032

520920

Hong Kong stocks experienced a relief rally on Wednesday, with the Hang Seng Index rising 0.6% to 26,739.79. The Hang Seng Tech Index increased by 1%. Key stocks like Haidilao International Holdings and Anta Sports Products saw gains of 4.6% and 3.6%, respectively. This rebound followed a decline in concerns over AI disruptions, as investors awaited Nvidia's earnings report. Other Asian markets also rose, with Japan's Nikkei 225 up 1.3% and South Korea's Kospi up 1.7%.

南华早报

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

HSTECH ETF

Tianhong Hang Seng TECH ETF(QDII)

Pro Ultrshrt Yen

NVIDIA

Hong Kong stocks rebound in relief rally as global AI scare fades

03115

510150

03033

00700

The Hang Seng Index closed at 26,789 points, up 199 points or 0.8%; the Hang Seng Tech Index reported 5,288 points, up 17 points or 0.3%. The China Enterprises Index rose 81 points or 0.9%, closing at 9,088 points. Among the actively traded blue-chip stocks, Meituan, Ping An, Tencent, and Alibaba all saw increases, with Haidilao rising more than 5%. Li Ning, Sinopharm, CHINA RES MIXC, Hengan, and MTR all reached new highs

ISHARESHSI

China Merchants SSE Consumer 80 ETF

CSOP HS TECH

CHINA RES MIXC

Hang Seng TECH ETF I

PING AN

ChinaAMC Hang Seng Technology ETF(QDII)

Dacheng Hang Seng Technology ETF(QDII)

TENCENT

MEITUAN

The Half-Day Report: The Hang Seng Index closed at 26,789 points, up 199 points; the Hang Seng Tech Index closed at 5,288 points, up 17 points. HAIDILAO rose over 5%, LI NING, SINOPHARM, CHINA RES MIXC, Hengan, and MTR reached new highs

01024

09888

09988

On February 24th, Hong Kong stocks closed with all three major indices significantly retreating, with the Hang Seng Index down 1.82% and the Hang Seng Technology Index down 2.13%. Dragged down by the adjustment in U.S. stocks and macroeconomic concerns, the technology and catering sectors saw widespread declines, with Meituan down 4.24% and Tencent Holdings down 3.35%. Despite the weak market, KNOWLEDGE ATLAS surged against the trend, driven by positive news from AI model breakthroughs, rising 12.14%, while YUM CHINA increased by 2.55% due to strong earnings reports. Market sentiment has turned cautious, facing short-term profit-taking pressure

- On February 24, Hong Kong stocks faced a significant retreat, with major indices, including the Hang Seng Index, falling by 1.82% after reaching a high phase.  
- The declines were attributed to profit-taking pressures and cautious market sentiment, particularly affecting the tech and retail sectors.  
- Investors are closely monitoring macroeconomic indicators, including retail sales and import-export data, to assess the sustainability of local consumption and external demand recovery.

Market Heartbeat

KUAISHOU-W

BIDU-SW

BABA-W

MNSO

JD-SW

KNOWLEDGE ATLAS

KB LAMINATES

ADD NEW ENERGY

GIGADEVICE

Hong Kong Stock Market Closing | The Hang Seng Index fell 1.82%, technology and restaurant stocks were under pressure, while KNOWLEDGE ATLAS surged 12.14%

On February 24, 2026, Beijing time, the Hong Kong stock market collectively weakened in the afternoon, with all three major indices adjusting high and falling more than 2%. The Hang Seng Tech Index led the decline, dragged down by a pullback in AI themes. Technology stocks generally fell, with major stocks such as Tencent Holdings, Alibaba, and Meituan showing weak performance. Funds shifted towards defensive stocks and individual stock speculation, with Aito rising sharply against the trend due to positive acquisition news. On the macro level, the market is closely monitoring liquidity and the recovery of local consumption data, with investment sentiment leaning towards caution

- The Hong Kong stock market experienced a significant downturn, with major indices falling over 2% led by the Hang Seng Index which dropped 2.01%.  
- Key sectors such as internet and retail reflected negative sentiment, influenced by a retreat in AI stocks, highlighting a broader market adjustment.  
- Notable individual stock movements included significant increases for certain companies while others like Tencent and Alibaba faced declines amid increased market caution.

DAISHOMICROLINE

Hong Kong stocks intraday | Hang Seng Index fell 2.3%, Meituan dropped 4.59%, Aide New Energy surged 30.28%

According to a report by the Beike Research Institute, it is expected that by 2030, the number of people living alone in China will reach 150 million to 200 million, with a solo living rate exceeding 30%. This trend has given rise to a "loneliness economy" worth 5.8 trillion yuan, driving the consumer market targeting solo individuals, including the popularity of single-person hot pots launched by HAIDILAO and small-sized home appliances. At the same time, solo travel has also become the norm among young people globally, with the global solo travel market expected to reach USD 1.07 trillion by 2030

Stheadline

5.8 trillion "lonely economy" rises, HAIDILAO launches single-person hot pot, small-sized home appliances are popular, scholars: touching human nature is the key

On February 13th, the Hong Kong stock market collectively adjusted, with the Hang Seng Index falling 1.72%, breaking below short-term highs. The internet and retail sectors experienced widespread declines, influenced by the macro environment and intensified competition, with heavyweight stocks like Meituan and Alibaba weakening. The restaurant sector showed mixed performance, with Haidilao rising against the trend due to recovery expectations. In terms of individual stocks, Yingda Real Estate surged over 39% on expectations of profits from asset sales. The market has entered a short-term consolidation period, with funds focusing on liquidity changes and policy directions

- On February 13, Hong Kong stocks declined collectively after reaching a short-term high, with the Hang Seng Index falling 1.72% to 26,567.12 points. 
- The retail sector suffered due to intense price competition and weak consumer sentiment, impacting major players like Alibaba and JD.com. 
- Amid mixed macroeconomic signals, investors are advised to consider defensive opportunities in high-dividend and policy-benefited sectors.

GUANZE MEDICAL

PCPD

STARCOIN GROUP

MANY IDEA CLOUD

AFFLUENT FDN

Hong Kong Stock Market Closing | Hang Seng Index fell 1.72%, Meituan dropped 3.18% leading the blue chips, Yingda Real Estate surged 39% on positive news

On February 13th, the three major indices of Hong Kong stocks collectively weakened in the morning session, with the Hang Seng Index falling by 1.79% and the Hang Seng TECH Index dropping by 1.65%. Affected by regulatory interviews and profit-taking pressure, technology stocks fell across the board, with MEITUAN down 4.54%, Baidu down 3.78%, and JD.com down 3.04%. Although Tencent continued to attract attention from southbound funds, its stock price still adjusted down by 1.68%. Individual stocks showed divergence, with AI concept stock Zhipu surging over 28% against the trend, and catering leader Haidilao rising by 2.22%. Market risk aversion sentiment is rising, entering a phase of digestion and consolidation in the short term

- On February 13, Hong Kong's three major indices fell after a recent high, indicating profit-taking pressure amid heightened risk aversion.  
- The Hang Seng Index closed at 26,548.41 points, dropping 1.79%, with the technology and retail sectors, including Tencent and Alibaba, showing significant declines due to regulatory concerns.  
- Market focus is shifting to external liquidity and mainland economic recovery, as the upcoming macro data release is anticipated to influence market direction.

XIAOMI-W

Tencent Holdings Limited

Tencent

CAM HS TECH

FL2 CSOP HSI

Baidu

FI2 CSOP HSI

Hong Kong Stock Midday Review | The Hang Seng Index fell 1.79%, tech stocks collectively declined, while AI concept stock Zhipu surged over 28% against the trend

The three major indices of the Hong Kong stock market were all under pressure today, with the Hang Seng Index falling 1.52%, the Hang Seng Tech Index dropping 1.24%, as the market faced profit-taking after reaching a peak. The technology, internet, and retail sectors generally weakened, with heavyweight stocks Tencent Holdings down 1.77%, Alibaba down 2.21%, and Meituan down 3.30%. The restaurant sector showed mixed performance, with Haidilao rising 1.56% against the trend. In terms of individual stocks, Aisinyuan Intelligence surged 13.68% on its first day of listing, while Starry Chain Group experienced significant volatility due to name change expectations. Investors are closely monitoring upcoming CPI and GDP data to assess the economic recovery process

- The Hong Kong stock market showed declines today, with major indexes experiencing profit-taking after yesterday's highs.  
- The Hang Seng Index fell by 1.52% to 26,622.96 points, while tech and retail sectors suffered due to cautious consumer recovery expectations.  
- Market participants are focused on forthcoming economic data, including CPI and GDP, to assess recovery resilience, as trading activity indicates strategic movements towards certain sectors.

AXERA

LONGCHEER

Hong Kong stock market intraday | The Hang Seng Index fell 1.52%, technology weighted stocks broadly declined, Meituan fell 3.30%, and Aisino surged 13.68%

On February 12th, the three major indices of the Hong Kong stock market collectively adjusted, with the Hang Seng Index falling 0.86% to 27,032.54 points, and the Hang Seng TECH Index dropping 1.65%. In terms of sectors, internet and restaurant stocks generally declined, with Meituan falling 4.5%, and Tencent and Baidu both moving lower; SenseTime surged 6.77% against the trend due to capital inflow, and Zijin Mining rose 3.45%. Investors are closely monitoring liquidity indicators such as M3 and foreign exchange reserves, and market sentiment is becoming cautious

- On February 12, Hong Kong stocks closed lower after recent highs, with the Hang Seng Index down 0.86% at 27,032.54 points.  
- Major sectors like internet content and restaurants faced significant declines, illustrating investor caution amid recovery challenges in consumption.  
- The market is focused on macro liquidity and economic recovery indicators, particularly retail sales and unemployment rates, to gauge future economic prospects.

ILUVATAR COREX

HUAYUEXPRESSWAY

BOER POWER

FI2CAMNDQ100

FI CSOP HSI

Meituan

Hong Kong Stock Market Closing | Hang Seng Index fell 0.86%, losing high ground, Meituan plummeted 4.5% leading the decline in technology and dining sectors, SenseTime surged 6.77% against the trend

On February 12th, the three major indices of the Hong Kong stock market collectively weakened during the session, with the Hang Seng Index falling 0.92% around the 27,000-point mark, and the Hang Seng Technology Index leading the decline with a drop of 1.59%. Affected by concerns over intensified AI competition, internet technology stocks fell broadly, with Tencent Holdings down 2.28%; the catering sector saw a significant pullback, with Meituan dropping 4.73%. Funds focused on AI applications and restructuring concepts, with KNOWLEDGE ATLAS, MiniMax, and others rising against the trend, while BOER POWER surged over 112% due to restructuring expectations. Market sentiment remains cautious, awaiting guidance from macroeconomic data

- On February 12, Hong Kong's three major stock indices declined collectively, indicating cautious market sentiment after hitting peak levels the previous day.  
- The Hang Seng Index fell by 0.92% to 27,014.81, while the Hang Seng Tech Index experienced a 1.59% drop, and the Hang Seng China Enterprises Index decreased by 1.02%.  
- Concerns over intensified competition among AI models affected various sectors, particularly internet content, retail, and restaurant segments, leading to a generally defensive investor mood awaiting further policy guidance.

MINIMAX-WP

UNISOUND

Hong Kong stock market intraday | Hang Seng Tech Index fell 1.59%, with the restaurant and internet sectors experiencing widespread declines, Meituan dropped 4.73%, and BOER POWER surged 112%

09626

On February 12th, the Hong Kong stock market closed at noon, with the three major indices collectively adjusting after yesterday's surge, and the Hang Seng TECH Index fell by 1.68%. Technology heavyweight stocks were all weak, with Meituan leading the decline, dropping 4.16%, while Tencent and Alibaba also weakened simultaneously. The catering and retail sectors were dragged down by market sentiment. Despite the overall market weakness, ZIJIN MINING rose against the trend by 2.25%, and YOFC surged by 11.35%. Market funds have entered a wait-and-see period, awaiting inflation data to verify the sustainability of consumer recovery

- On February 12, Hong Kong stocks experienced a technical correction after a previous surge, with major indices all declining.  
- The Hang Seng Index fell 0.89% to 27,024.06, while technology and retail sectors were notably affected, with Tencent down 2.65% and Meituan down 4.16%.  
- Market sentiment is cautious ahead of upcoming macroeconomic data releases, including CPI and unemployment rates, vital for assessing the sustainability of local consumption recovery.

BILIBILI-W

HPC HOLDINGS

TOUYUN BIOTECH

HANVEY GROUP

ZIJIN MINING

YOFC

Hong Kong Stock Market Mid-Review | The Hang Seng Index fell 0.89%, technology weights weakened across the board, Meituan plummeted 4.16%, and YOFC surged 11.35%

$Hang Seng Index(00HSI.HK) market trends spreading to consumer sector $ANTA SPORTS(02020.HK)$LI NING(02331.HK)$HAIDILAO(06862.HK)$MIXUE GROUP(02097.HK)

The return of Trump has left China with no policy options but one path—reflation, which includes asset reflation and price reflation.For China's economic growth, there are only two real drivers: leveraging and strong external demand. These are the fundamental sources of demand creation.Next year, external demand itself will weaken marginally. If Trump wields the tariff stick again, China will have to focus on internal reforms. Moreover, demand stimulation must target end-user demand, not intermediate investment demand.Over the past two years, Chinese assets have remained undervalued with high dividends. In 2025, cyclical and tech-upgrading sectors are likely to present opportunities (refer to the 2018 trade war).The path is singular and clear, making the game simple. Next year, the focus will likely be on cyclical sectors, especially in trading terms—front-loading policy expectations and back-loading implementation effects.The policy game has already begun today. In terms of timing, consumer goods, especially service-related consumption, must lead the cyclical upturn, as service consumption holds greater potential in China's domestic demand.Moreover, the results of the 8th meeting will soon be released, followed by the Central Economic Work Conference at year-end. Thus, consumer sectors are poised for an initial rally. With valuations at low levels, Dolphin Research believes now is the window to position in cyclical sectors, recommending focus on consumer sectors with solid fundamentals and low valuations. $YUM China(YUMC.US) $NONGFU SPRING(09633.HK) $TSINGTAO BREW(00168.HK) $HAIDILAO(06862.HK) $CHINA RES BEER(00291.HK) $ANTA SPORTS(02020.HK) Note that these overseas assets are purely listed in Hong Kong.Internet consumer stocks, mostly listed in the U.S. with higher U.S. capital weightings, face concerns about becoming part of the U.S.-China play. Thus, they need to digest negative sentiment first, but opportunities may emerge afterward.

ANTA SPORTS-R

MBHDLIH@EC2608A(25427.HK)

The Hong Kong Index closed at 26,765 points, up 175 points; the Hang Seng TECH Index closed at 5,260 points, down 10 points. HAIDILAO rose over 6%. HSBC HOLDINGS, TINGYI, SINOPHARM, TIME INTERCON, and WANGUO GOLD GP reached new highs with active trading

Daiwa Capital Markets: The consumption momentum during the Spring Festival holiday is improving, with a preference for ANTA, CHINA RES BEER, HAIDILAO, and YUM China

Hong Kong stocks rebound in relief rally as global AI scare fades

The Half-Day Report: The Hang Seng Index closed at 26,789 points, up 199 points; the Hang Seng Tech Index closed at 5,288 points, up 17 points. HAIDILAO rose over 5%, LI NING, SINOPHARM, CHINA RES MIXC, Hengan, and MTR reached new highs

Hong Kong Stock Market Closing | The Hang Seng Index fell 1.82%, technology and restaurant stocks were under pressure, while KNOWLEDGE ATLAS surged 12.14%