FAST NEWS: Store Closure Impairment Loss Turns Haidilao Red

The latest: China’s leading hot pot chain Haidilao International Holding Ltd. (6862.HK) on Sunday warned it expects to post a loss of 225 million yuan ($37.7 million) to 297 million yuan for the first half of the year, reversing a 96.5 million profit a year earlier. Looking up: The company said performance of its restaurants has improved markedly since June with the pandemic’s easing. It added it will implement proactive measures to control rent and other operating costs, and use credit and equity financing to ensure a healthy cash flow. Take Note: The…

Read More »

Many Idea Cloud to Float Shares in Hong Kong Amid Stormy Skies

The integrated marketing solutions provider faces uncertainty as many of its core consumer goods clients suffer from pandemic-related disruptions Key Takeaways: Many Idea Cloud has filed for a Hong Kong IPO after two earlier unsuccessful experiments aimed at tapping China’s A-share market The company is highly dependent on clients in the fast-consumer goods and clothing industries that have been hit hard by the pandemic By Stone Shek A Covid storm is taking a toll on Many Idea Cloud Holdings Ltd., a digital marketing services provider whose customers rely on consumer…

Read More »

Dingdong Rings Up First-Ever Profit. But Investors Don’t Buy It

Online grocer reports a 20.6 million yuan second-quarter non-GAAP profit, fueled by buying surge from Shanghai customers during city’s two-month lockdown Key Takeaways: Dingdong reported its first-ever non-GAAP profit in the second quarter, buoyed by strong demand during Shanghai’s two-month lockdown in April and May Company promises to achieve sustained profitability and stick to its super-fast delivery model despite recent woes of major rival By Trevor Mo The recent woes of Missfresh Ltd. (Nasdaq: MF) have cast an uneasy spotlight on the capital-intensive business model used by some of China’s…

Read More »