HAIDILAO(HK:06862) Ge Long Hui·2025-09-01 07:59Core Viewpoint - Goldman Sachs anticipates that Haidilao's revenue growth will return to normal in the second half of the year due to a low base and effective operational optimization measures, although the consumer environment remains a challenge for table turnover recovery [1] Revenue and Profitability - The company is expected to face pressure on profit margins in the second half of the year due to last year's high base and ongoing investments in customer experience and employee benefits [1] Shareholder Returns and Stock Performance - Shareholder returns are expected to support the stock price despite a slowdown in store count and sales growth, along with short-term profit margin headwinds [1] Earnings Forecast Adjustment - Goldman Sachs has lowered its earnings forecasts for 2025 to 2027 by 7% to 14% and maintains a "Neutral" rating, with the target price adjusted from HKD 15.3 to HKD 14.7 [1]