Changes in Hong Kong stocks | Haidilao (06862) fell more than 3%. Recently, the controlling shareholder reduced holdings, adding negative sentiment, Citi indicated that the August turnover rate fell short of expectations

The Zhitong Finance App learned that Haidilao (06862) opened low today and weakened. As of press release, it was down 3.11% to HK$9.65, with a turnover of HK$215 million. The stock has been under pressure for many consecutive days since September 9, with a cumulative decline of 15%.

According to the news, during the opening auction period on September 9, SpnPltd., a trust holding case owned by a member of Haidilao's controlling shareholder group, placed 259 million shares at HK$10.62 per share through a bulk transaction, discounted 6.7% from the previous closing price of HK$11.38, and cashed out approximately HK$2.75 billion, accounting for 4.65% of the total share capital. The company announced that night to confirm the deal: the seller's shareholding case for Rose Trust, a discretionary trust set up by the wife of the founder Zhang Yong, dropped to 45.49% after the holdings were reduced.

Yamato tends to interpret this as a one-off incident, believing that the relevant pressure has been removed. However, the bank believes that the company's turnover rate in August may have improved month-on-month, but this is not necessarily a year-on-year increase; it is expected that the turnover rate in September will be driven by a low base, but demand for the fourth quarter of 2026 is still unclear. According to Citi, according to Haidilao's communication with investors, the company's monthly turnover rate in August fell by a single digit year on year. Compared with management's performance in the first half of the year, the turnover rate for the first three weeks of August was lower by one digit year on year, and the performance was lower than expected.