Summary by Moomoo AI
Xiabuxiabu Dining Management (China) Holdings Co., Ltd. issued a profit warning, and is expected to record a net loss of approximately 0.26 billion to 0.28 billion yuan in the first half of 2024, a significant decrease from the net profit of 2.12 million yuan in the same period of 2023. The loss is mainly due to weak market consumption, fierce competition, and the expected closure of loss-making restaurants. The company is responding to these challenges by optimizing its operation mode, improving its brand image, and strengthening its online platform, among other strategies. The company will release its interim performance announcement before the end of August 2024.
