Hang Seng’s Worst-Performing Stock Is a Chinese Hotpot Chain
- Haidilao’s shares have tumbled after the firm’s profit warning
- Changing consumption habits amid the pandemic hit business
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While Chinese technology giants have been stealing the headlines this week when it comes to stocks in Hong Kong, the biggest loser in the market is a popular hotpot chain.
Shares of Haidilao International Holding Ltd. have plunged 32% over five days, turning them into this year’s worst performer on the Hang Seng Index. The rout comes as the company issued a first-half profit warning on Sunday, citing higher expenses due to new restaurant openings and negative impact from the pandemic.