Xiabuxiabu, HK0520000447

Xiabuxiabu stock reports a 55.2 percent smaller loss

Published on 09/29/2026 at 21:04 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Xiabuxiabu stock generated RMB 1,493.05 million in first-half revenue through June 30, 2026. The group operated 761 restaurants worldwide and cut its loss to RMB 36.19 million.

Xiabuxiabu, HK0520000447, Illustration mit AI erstellt.

Xiabuxiabu Catering Management (China) Holdings Co., Ltd. (ISIN HK0520000447) reduced its first-half 2026 net loss by 55.2 percent to RMB 36.19 million, while revenue fell 23.1 percent to RMB 1,493.05 million for the six months ended June 30, 2026. The figures show a narrower loss, but also a sharp contraction in the restaurant group's sales base.

Revenue falls across both brands

According to HKEX in the interim results announcement dated August 27, 2026, Xiabuxiabu revenue declined 19.8 percent to RMB 910.98 million in the first half of 2026. Coucou revenue fell 31.0 percent to RMB 514.42 million, making the premium brand the larger drag on group sales.

The reported loss before tax narrowed 55.3 percent to RMB 33.86 million, while the loss attributable to owners decreased to RMB 35.99 million from RMB 84.08 million in the first half of 2025. The improvement therefore came alongside lower revenue, not top-line growth.

Store closures reshape the group

The group operated 761 restaurants worldwide at June 30, 2026, including 644 Xiabuxiabu restaurants, 113 Coucou locations and one Xia Niu Pai restaurant in mainland China and other markets. During the period, it opened 28 new Xiabuxiabu restaurants and one Xia Niu Pai location, while closing 139 Xiabuxiabu and 34 Coucou restaurants.

This network reduction helps explain why staff costs declined 25.8 percent to RMB 494.60 million and depreciation and amortization fell 29.2 percent to RMB 225.07 million in the first half. It also highlights the trade-off in the turnaround: cost discipline improved, but the smaller estate limits the immediate route back to revenue growth.

Hong Kong listing stays intact

Reuters identifies Xiabuxiabu as 0520.hk on the HKG market and describes its business as restaurant operations under the Xiabuxiabu and Coucou brands. The company said its average Xiabuxiabu customer spending was RMB 52.10 in the first half of 2026, down from RMB 53.70 a year earlier, while average seat turnover slipped to 2.50 times from 2.60 times.

Xiabuxiabu stock remains listed on the Hong Kong Stock Exchange under stock code 0520, according to the interim announcement for the six months ended June 30, 2026. For investors, the central test is whether lower costs and a smaller restaurant network can stabilize earnings before the group attempts to rebuild sales.