海通证券每日报告精选-2025-03-28

Market Performance - The large-cap index (大盘 100) increased by 0.21% daily but decreased by 2.88% annually[2] - The small-cap index (小盘 200) decreased by 0.28% daily and increased by 7.30% annually[2] Sector Performance - The best-performing sector was healthcare, with a daily increase of 1.70% and a weekly increase of 0.69%[2] - The worst-performing sector was non-ferrous metals, which decreased by 1.17% daily and increased by 11.87% annually[2] Company Insights - Haidilao (海底捞) projected 2024 revenue of CNY 42.75 billion, a 3.1% increase year-on-year, with a net profit of CNY 4.71 billion, up 4.6%[7] - The company expects a year-end dividend of CNY 2.53 billion, resulting in a dividend yield of approximately 5%[7] Operational Metrics - Haidilao's core operating profit for 2024 is estimated at CNY 6.23 billion, reflecting an 18.7% year-on-year growth[7] - The average table turnover rate increased to 4.1 times per day, up by 0.3 times year-on-year[23] Cost Management - Raw material costs decreased by 4.3% to CNY 16.21 billion, accounting for 37.9% of total revenue[24] - Employee costs rose by 8.2% to CNY 14.11 billion, representing 33.0% of total revenue[24]