Summary by Moomoo AI
Xiabuxiabu Dining Management (China) Holdings Limited announced its interim performance for the six months ended June 30, 2024, with a 15.9% decrease in revenue compared to the same period last year, from RMB 284.61 million to RMB 239.45 million. During the period, a net loss of RMB 27.37 million was recorded, compared to a profit of RMB 2.1 million in the same period last year, mainly due to weak overall market consumption and intense competition. The company opened 41 new Xiabuxiabu restaurants and 11 Haidilao restaurants during the reporting period, and closed some loss-making restaurants. The board of directors has decided not to distribute interim dividends. The company's stock code is 520 and it does not hold any inventory shares.