Xiabuxiabu Catering Management (China) Hldgs Co Ltd Shs Unitary 144A/Reg S

00520: XHKG (HKG)
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Xiabuxiabu: Struggles in 2024, but Earnings Slightly Exceed Expectations; Yum China Remains Top Pick

Xiabuxiabu has issued a profit warning for 2024, projecting a 20% revenue decline and a net loss of CNY 390 million–CNY 410 million, compared with a net loss of CNY 190 million in 2023. These are primarily due to intensified competition, consumer downtrading, and closure-related impairment losses.

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