The Zhitong Finance App learned that Xiabuxiabu (00520) rose more than 6% in the intraday period. As of press release, it had risen 3.26% to HK$2.22, with a turnover of HK$27.3747 million.

According to the news, Xiabu Xiabu launched a new menu on May 15, showing that prices for single and double packages have been completely reduced. The average price of the new Xiabu Xiabu menu package dropped by more than 10%. Caitong Securities previously pointed out that in the medium to long term, sacrificing customer unit prices in exchange for increased passenger flow and increased market penetration is beneficial to maintaining brand market share.

In addition, Xiabu Xiabu previously announced that He Guangqi, the company's executive director, chairman of the board of directors and controlling shareholder, has recently purchased a total of 20.575 million shares of the company from the open market, at a total cost of about HK$33.991 million. According to the announcement, He Guangqi is full of confidence in the company's future development prospects. He believes that the company's current stock price does not reflect its intrinsic value, and is considering further increasing his shareholding in the future. According to reports, since April, in more than a month, He Guangqi has taken steps to buy back the company's shares 11 times.