Xiabuxiabu Catering Management (China) Holdings Co., Ltd. (HK:0520) has released an update.
Xiabuxiabu Catering Management (China) Holdings Co., Ltd. reported a significant decrease in revenue, from RMB 2.846 billion in the first half of 2023 to RMB 2.394 billion in the same period of 2024, and a net loss of RMB 274 million due to weak market consumption, fierce competition, and impairment losses. Despite the downturn, the company has undertaken strategic measures such as price reductions and centralized procurement to enhance customer appeal and reduce costs. No interim dividend will be declared for the period.
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