＜Research＞CLSA Cuts HAIDILAO (06862.HK) TP to $16.9, Reflecting Short-term Growth Uncertainty

　　HAIDILAO (06862.HK) -0.800 (-5.298%) Short selling $59.04M; Ratio 22.744% announced that CEO Yang Lijuan has resigned and will join SUPER HI (09658.HK) +1.000 (+8.333%) Short selling $264.66K; Ratio 2.686% starting next month. In addition, Gou Yiqun has been appointed as Executive Director and CEO.

　　CLSA commented in a report that although both are close associates of founder Zhang Yong, Yang is more experienced in operations, while Gou has extensive experience in supply chain management and investment. The broker saw the change as a sign that HAIDILAO has almost exhausted ways to improve shop economics and will rely on franchising and new brands for growth.

　　Related NewsSUPER HI Swings Profit into Loss of US$4.46M in 1Q24

　　Taking into account HAIDILAO's uncertainty of short-term growth, CLSA lowered its target multiple from 10x to 8x and its target price from $20.6 to $16.9. The broker maintained its Outperform rating.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-21 16:25.)

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