Xiabuxiabu Catering Management (China) Holdings Co., Ltd. (HK:0520) has released an update.
Xiabuxiabu Catering Management (China) Holdings Co., Ltd. anticipates a significant decline in revenue and a net loss for the first half of 2024, primarily due to reduced consumer spending, increased competition, and impairment losses. Despite these challenges, the company has implemented strategic initiatives to boost customer traffic and optimize operations, including price adjustments, operational management initiatives, and leveraging online platforms. The final results, which are not yet audited, will be released by the end of August 2024.
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