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Haidilao International is Hang Seng Index's worst performer this week

Bloomberg
Bloomberg7/30/2021 3:36 PM GMT+08  • 3 min read
Haidilao International is Hang Seng Index's worst performer this week
Haidilao’s stock plunged as much as 9.1% on Friday. The Hang Seng Index fell as much as 1.5%.
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While Chinese technology and private-education 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 31% 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.

This week’s losses have exacerbated a selloff in Haidilao, best known for its string of Chinese spicy soup restaurants. The stock is now down 66% from a February peak, a sharp reversal following an almost 250% surge in the last two calendar years.

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