Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Equity Capital Markets

Super Hi International / Equity Capital Markets

<ul>
<li>Haidilao International announced the spin-off plan of its overseas arm, Super Hi.</li>
<li>We take a quick look at Super Hi's fundamentals. We think it is unlikely for Super Hi to achieve the level of economy of scale as Haidilao in China.</li>
<li>We think the valuation of Super Hi should be compared to F&amp;B peers in the ASEAN region given that its business is mainly focused on the ASEAN region. </li>
</ul>


Haidilao International announced the spin-off plan of its overseas arm, Super Hi.
We take a quick look at Super Hi's fundamentals. We think it is unlikely for Super Hi to achieve the level of economy of scale as Haidilao in China.
We think the valuation of Super Hi should be compared to F&amp;B peers in the ASEAN region given that its business is mainly focused on the ASEAN region. 


Super Hi Spin-Off: Unexciting Fundamentals

Singapore

Super Hi International Holding Ltd. operates Haidilao hot pot restaurants in international markets, offering a wide range of signature hot pot dishes, soup bases, and a self-serve condiment bar. The company also provides food delivery services and sells Haidilao-branded hot pot condiment products. Headquartered in Singapore, the company was incorporated in 2022.

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Super Hi International (9658 HK)

Super Hi Spin-Off: Unexciting Fundamentals

We look at the fundamentals of Haidilao International's approved spin-off of its overseas operation Super Hi International Holding.

Ke Yan, CFA, FRM

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