HAIDILAO Shares Climb Over 3% in Afternoon Session on Strong Chinese New Year's Eve Booking Figures

Stock News
Feb 13

HAIDILAO (06862) saw its shares rise more than 3% during afternoon trading. At the time of writing, the stock was up 3.07%, trading at HK$17.14 with a turnover of HK$248 million. The positive movement follows reports indicating robust demand for the company's services during the upcoming Spring Festival holiday. Nationwide, HAIDILAO has already received bookings for over 50,000 tables for Chinese New Year's Eve meals. Furthermore, more than ten new HAIDILAO locations and themed dining scenarios have recently opened across the country, expanding the variety of dining options available for the holiday period. To better accommodate the surge in festive gatherings, HAIDILAO will have over 1,000 outlets operating normally on Chinese New Year's Eve. More than 1,200 locations will be open on the first day of the Lunar New Year, and from the second day onwards, normal operations will resume at over 1,300 stores nationwide. Analysts suggest that supportive government policies are expected to drive a stronger-than-anticipated recovery in Spring Festival consumption. Initiatives such as the multi-department "Happy Shopping for the New Year" campaign and subsidies for trade-in programs, combined with the extended nine-day holiday, are likely to boost spending in sectors including gold retail, alcohol and tourism, and catering. Related stocks listed in Hong Kong, seen as beneficiaries of this trend, may experience short-term rebound opportunities, with holiday consumption data potentially exceeding expectations.

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