The Zhitong Finance App learned that Daiwa released a research report saying that Yihai International (01579) is a leader in the Chinese compound seasoning industry, focusing on hot pot seasonings, Chinese compound seasonings and convenient ready-to-eat products. It is also the main hot pot base supplier for Haidilao (06862) and Tehai International (09658). For the first time, it covered a “buy” rating with a target price of HK$18.7.

According to the bank, since the fourth quarter of 2025, the company's third-party sales and related party sales have recovered, mainly driven by supply-side optimization in the Chinese market, because the competitive environment in the seasoning industry has eased in the past few years, and believes that the 7% dividend rate forecast for 2026 can provide good support. Accelerated revenue growth has also brought the stock back into the attention lists of some investors.

The bank estimates that the company's sales and net profit both increased 13% year-on-year in the first half of the year, which should drive the growth rate of core operating profit in the first half of the year higher than the revenue growth rate. The annual revenue is expected to be 7.367 billion yuan, and the net profit is expected to reach 975 million yuan.

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