According to a report released by Lyon, at an investor conference, Haidilao (06862.HK) admitted the need to reduce the employee expense ratio to improve restaurant profitability. The company reconfirmed its store opening guidance target and plans to open 40 to 50 new Haidilao restaurants in the second half of the year, with 4 to 10 of them being franchised stores. The bank pointed out that the development of the new grilled meat brand "Flame Please BBQ Shop" is the main measure of the new CEO. The bank has lowered the target price from 14.6 yuan to 14.3 yuan, but maintains a "outperform the market" rating.

Lyon pointed out that due to the employee expense ratio being higher than expected, Haidilao's net profit forecast for the 2024-2026 fiscal years has been lowered by 3% to 5%, and the EBITDA forecast has been lowered by 2% to 11%.