Stock Track | Xiabuxiabu Shares Plunge on Expected H1 Loss, Revenue Decline

Stock Track08-05

Shares of Xiabuxiabu Catering Management (China) Holdings Co., Ltd. (HKG:0520) plummeted over 9% on Monday after the company warned of a significant net loss for the first half of 2023, citing a sharp drop in revenue and impairment charges related to underperforming restaurants.

In a filing on August 2, the Chinese restaurant chain operator said it expects to report a net loss of between 260 million yuan and 280 million yuan for the six months ended June 30, compared to a net profit of 2.12 million yuan in the same period last year. Revenue for the first half is projected to decline by 16% to 2.4 billion yuan.

The anticipated loss was attributed mainly to the provision of relevant impairment losses for restaurants that are expected to be closed and continue to record losses. The company did not provide further details on the number of affected outlets or the specific reasons behind the revenue decline.

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(HKG:0520) plummeted over 9% on Monday after the company warned of a significant net loss for the first half of 2023, citing a sharp...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"00520","symbol_name":"呷哺呷哺","start_time":0,"source_url":"","article_id":"1182376048","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1182376048","pubTimestamp":1722867198,"sourceInfo":null,"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Xiabuxiabu Catering Management  Holdings Co., Ltd.  plummeted over 9% on Monday after the company warned of a significant net loss for the first half of 2023, citing a sharp drop in revenue and impairment charges related to underperforming restaurants.In a filing on August 2, the Chinese restaurant chain operator said it expects to report a net loss of between 260 million yuan and 280 million yuan for the six months ended June 30, compared to a net profit of 2.12 million yuan in the sa","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"00520":"呷哺呷哺"},"translate_title":"股票赛道呷哺呷哺股价因上半年预期亏损、收入下降而暴跌","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"00520":1},"content_text":"Shares of Xiabuxiabu Catering Management (China) Holdings Co., Ltd. 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