智通财经APP获悉，海底捞(06862)今日低开走弱，截至发稿，跌3.11%，报9.65港元，成交额2.15亿港元。该股自9月9日以来已连续多日承压，累计跌幅达15%。
消息面上，9月9日开盘竞价时段，海底捞控股股东集团成员旗下信托持股壳SPNPLtd.通过大宗交易以每股10.62港元配售2.59亿股，较前收盘11.38港元折价6.7%，套现约27.5亿港元，占总股本4.65%。公司当晚公告确认交易：卖方为创始人张勇妻子设立的全权信托Rose Trust的持股壳，减持后控股集团合计持股降至45.49%。
大和倾向将此解读为一次性事件，认为相关压力已消除。不过，该行认为，公司8月翻台率或环比改善，但未必同比增长；预期9月翻台率受低基数带动同比改善，但2026年第四季需求仍不明朗。花旗指，据海底捞与投资者沟通，公司8月全月翻台率同比下跌低个位数，对比管理层于上半年业绩后指8月首三周翻台率同比升低个位数，表现逊于预期。
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