Xiabuxiabu (00520) fell 8% and hit a new low of 0.92 Hong Kong dollars. As of press time, it fell 8% to 0.92 Hong Kong dollars, with a turnover of 82.037 million Hong Kong dollars.
According to the Zhītōng cǎijīng APP, Xiabuxiabu (00520) fell 8% and hit a new low of 0.92 Hong Kong dollars. As of press time, it fell 8% to 0.92 Hong Kong dollars, with a turnover of 82.037 million Hong Kong dollars.
On the news front, Xiabuxiabu previously issued a profit warning, with an expected revenue decrease of about 15.9% to 2.4 billion yuan in the first half of the year; a net loss of about 260-280 million yuan, turning from profit to loss year-on-year. Since this year, Xiabuxiabu Group has taken a series of measures such as actively reducing prices and slowing down expansion. It is reported that all Burn brand stores have been closed nationwide. In May of this year, the new menu released by Xiabuxiabu showed that the prices of individual and double combos were reduced across the board.
In addition, on August 16th, the Hang Seng Composite Index Company announced the latest quarterly review results, among which Xiabuxiabu was removed from the Hang Seng Composite Index constituent stocks, and the change will take effect on September 9, 2024. China International Capital Corporation research report pointed out that Xiabuxiabu may be removed from the Hong Kong stock market due to the decrease in market cap, insufficient liquidity, or violation of relevant regulations.