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HK-listed restaurant chain Xiabuxiabu falls on disappointing outlook

Reuters2021-07-30

** Shares of Chinese hot-pot restaurant chain Xiabuxiabu Catering Management (China) Holdings Co Ltd fall 6.7% to HK$6.59

** The Beijing-based operator expects to post a loss of up to 60 mln yuan ($9.30 mln) for the six months ended in June, versus the 255 mln yuan loss reported last year, but that falls short of its target to turn to a profit

** Says H1 loss was due to the provision for impairment losses as the company plans to close about 200 loss-making Xiabuxiabu restaurants throughout the year and as its restaurants have been hit by the COVID-19 outbreaks

** The Hong Kong Hang Seng consumer goods and services index falls 1.2% and the Hang Seng Composite index drops 1.8%

** The Hang Seng China Enterprises index plunges 2.6% and the benchmark index slips 1.8%

** Stock had dropped 60.1% this year, as of last close

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Comment7

  • JasonTan00
    ·2021-07-30
    nice
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    • Vikkilai
      Nice
      2021-07-30
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  • Ong86
    ·2021-07-30
    [Surprised] 
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  • fearedhouse
    ·2021-07-30
    Wow
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  • leyvancs
    ·2021-07-30
    Like and comment and I'll do the same !
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  • sheenayam
    ·2021-07-30
    Please like and comment. Thanks 
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  • YLS0721
    ·2021-07-30
    Xxx
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    • TriciaChang
      Ok
      2021-07-30
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    • Ly99
      .
      2021-07-30
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  • Gee1
    ·2021-07-30
    great
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    • sheenayam
      why not
      2021-07-30
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    • diggydog
      why?
      2021-07-30
      Reply
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