HK Stock Market Move | HAIDILAO (06862) falls nearly 3% intraday; Zhang Yong's borrowing further weighs on investor sentiment; table turnover rate recovery year-on-year remains weak.

HAIDILAO (06862) fell nearly 3% intraday today, down 1.85% as of press time, at HK$9.3, with turnover of HK$192 million. On the news front, HAIDILAO recently announced that it would provide a one-month loan of up to RMB 100 million to Chairman Zhang Yong. Notably, just last month, Zhang Yong's wife, Shu Ping, cashed out HK$2.751 billion through a block sale via a family trust. Morgan Stanley said the loan has little financial impact on the company, but as a related-party transaction, it could further weigh on valuation pressure after the earlier major shareholder selldown. Macro and catering demand remain persistently weak, the table turnover rate recovery year-on-year remains sluggish, and the company has yet to see any clear catalysts.