Mid-day Brief: The three major indexes fell together, with the NASDAQ dropping over 1%. Semiconductor and Apple supplier stocks fell, with BYD Electronic and Hua Hong Semi dropping over 5%.
As of press time, Hang Seng Index fell by 0.41%, CSI 300 fell by 0.47%, and ChiNext fell by 1.31%.
Haidilao (06862.HK) was criticized by netizens for inducing sales. They were charged for not drinking beverages in the restaurant.
According to a report from internal media, mainland netizens went to haidilao (06862.HK) for a meal last Friday (19th), but did not drink any drinks in the restaurant with their own milk tea, but were eventually charged for two drinks. After the netizen complained to Haidilao's national customer service hotline, the Haidilao staff said that they did not check the bill carefully, thought that the customers at the next table ordered the drinks, and finally refunded the self-selected drink fee of RMB 14 to the netizen. However, some netizens questioned that Haidilao induced sales, because every time they visited, the staff directly asked whether they wanted plum soup or soy milk, but did not mention that an additional charge would be required. Haidilao is currently reporting 13 yuan, down 1.
DBS lowered its target price for Haidilao (06862.HK) to 18 yuan and rated it as "shareholding".
Morgan Stanley released a research report pointing out that Haidilao (06862.HK) net closures and non-operating items may drag down its profit growth in the first half of the year. However, the bank predicts that due to decreasing raw material costs, a dining retail hybrid model, and closing loss-making stores, the company's profit margin will show more significant growth in the second half of the year. The bank expects the group's first-half revenue to increase by 15% year-on-year, operating profit to rise by 10%, and operating profit margin to increase slightly by 0.3 percentage points from the previous half-year to 11.9%. Net profit fell by 6%, and net profit margin was 9.8%. The bank lowered the target price of the group from 20 yuan to 18 yuan and maintained a 'shareholding' rating.
Quick glance at the market | Hong Kong stocks opened high and fell, resource stocks such as oil, coal, and non-ferrous metals weakened, and Sunny Optical Technology fell nearly 7%.
As of the time of writing, the Hang Seng Index fell by 0.39%, the Guo Index fell by 0.47%, and the Ke Index fell by 0.01%. Network technology stocks showed mixed gains and losses, with Meituan up nearly 3%, Xiaomi Group up over 1%, and Tencent up nearly 1%; Sensetime fell over 6%, Bilibili fell by nearly 3%, while Baidu and Kuaishou saw slight drops.
DBS: Jiumaojiu (09922.HK) issued a profit warning with underperformance, still prefer Haidilao (06862.HK).
Jiumaojiu (09922.HK) issued a profit warning last Friday (19th), and it is expected that the company's net profit for the first half of the year as of the end of June will decrease by no more than 69.8% over the year to 67 million yuan. Morgan Stanley's report pointed out that the company's stock price may be under pressure in the short term and prefers Haidilao (06862.HK) more than Jiumaojiu.
Hong Kong dining stocks fell collectively: Haidilao, Nayuki Tea fell more than 4%.
On July 22nd, due to Jiumaojiu's profit warning, the stock prices of dining stocks in Hong Kong's stock market collectively fell during trading. Jiumaojiu fell over 12% at one point, hitting a historic low. Haidilao, Nayuki, and Xiabu Xiabu fell over 4%, 2%, and 1% respectively.