China’s largest hotpot restaurant chain wants to list its overseas business in Hong Kong. Haidilao has become a household name with an $11bn market value at home. In addition to its addictive soups it offers a range of services in its stores, including free manicures. But the wider sector is struggling under the double burden of lockdowns and inflation. A spin-off of Super Hi International Holding, which operates Haidilao’s business outside Greater China and accounts for about a tenth of total sales, would provide investors with exposure to a fast-growing business. It has more than 100 stores in countries including Canada and the UK. Based on sales from the overseas operations of about Rmb3bn ($440mn) and comparable industry multiples, its valuation should exceed $1bn.
manbetx3.0 最大连锁火锅店海底捞(Haidilao)希望分拆其海外业务在香港上市。海底捞已成为一个家喻户晓的名字，国内市值达到110亿美元。除了令人上瘾的汤，海底捞门店还提供包括免费美甲在内的一系列服务。但整体餐饮业正在封锁和通胀的双重负担下苦苦挣扎。