4 Sep 2024 CMB International Global Markets | Equity Research | Company Update Haidilao (6862 HK) Waiting for new initiatives to shine, with yields Haidilao's 1H24 results were roughly inline, but the margin was soft, given the meaningful SSSG. Going into 2H24E, we can still see certain pressure like drags from macro environment, high base for SSSG and staff costs inflation etc. In our view, the extra upside could be from the acceleration in new stores opening, further plans to boost efficiency and new bran ...