Shanghai XNG Records Sharp Decline in Mid-Year Profits

Shanghai XNG Holdings Limited (HK:3666) has released an update.

Shanghai XNG Holdings Limited reported a significant downturn in its financial performance for the first half of 2024, with revenues plunging by 24.7% and a staggering 763% increase in net losses compared to the same period last year. The company also experienced a reduction in the number of its restaurants, indicating a contraction in operations. These results reflect challenges the company is facing in a competitive and changing market.

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