Zhithon Financial APP has learned that Xiabuxiabu (00520) fell nearly 5%, hitting a new low of 0.76 Hong Kong dollars. As of the time of writing, it has dropped by 4.94%, to 0.77 Hong Kong dollars, with a transaction amount of 1.5576 million Hong Kong dollars.

On the news front, as of September 10, the adjustment of stocks under the Hong Kong Stock Connect has taken effect, including the removal of 33 stocks, including Xiabuxiabu. In the first half of this year, Xiabuxiabu achieved an income of approximately 2.395 billion yuan, a year-on-year decrease of 15.9%; the company's attributable net loss was approximately 0.273 billion yuan, a year-on-year change from profit to loss. This is mainly due to the overall weak consumer environment and consumer downgrading in the market, leading to intense competition in the dining market, resulting in a low willingness of customers to visit dining establishments and a decrease in revenue for the group's subsidiary brands; and an expected closure of continually loss-making restaurants, with a provision for related impairment losses of approximately 0.2 billion yuan.

It is worth noting that since the beginning of this year, the Xiabu Group has taken proactive measures such as price reductions and slowing expansion. It has been reported that all stores of the Chenshao brand have ceased operation nationwide. In addition, in May of this year, the new menu released by Xiabuxiabu showed that the price of individual set meals was reduced by a maximum of 8 yuan, with an overall price reduction of around 10%.