Core Viewpoint - The company, Xiaobai Xiaobai, is facing significant financial challenges, with projected revenue declines and continued net losses, indicating ongoing struggles in a competitive market [1][2][3] Financial Performance - The company expects revenue of approximately RMB 1.9 billion for the six months ending June 30, 2025, representing a year-on-year decrease of about 18.9% [1] - Projected net losses are estimated to be between RMB 80 million and 100 million, with a year-on-year decline in losses ranging from 63.2% to 70.5% compared to a loss of RMB 274 million in the same period last year [1] - Cumulative losses over the past five years are projected to exceed RMB 1.326 billion, with significant losses recorded in 2021 (RMB 293 million), 2022 (RMB 353 million), 2023 (RMB 199 million), and 2024 (RMB 398 million) [1] Strategic Initiatives - The company has initiated a series of adjustments in 2025, focusing on key regions such as Beijing, Hebei, Shanghai, Guangzhou, and Shenzhen, with plans to open at least 95 new restaurants [1] - The "Feng Huan Chao" initiative was launched to allow internal employees to become partners in new stores, sharing risks and profits through a tripartite shareholding model [2] - The company is also expanding into the condiment business, planning to acquire a 40% stake in a subsidiary for RMB 89 million, which will become a wholly-owned subsidiary [2] Market Challenges - The company continues to face revenue pressure, with a nearly 20% decline in revenue in the first half of the year, indicating significant challenges in a competitive market [3] - Previous strategies to transition to high-end offerings and continuous price increases have not positively impacted performance, leading to customer attrition [3] - The company's stock performance has been poor, with a recent drop of 3.85% and a total market capitalization of approximately HKD 825 million, reflecting cautious sentiment from foreign investors as their shareholding has decreased from 23% to 13.41% [3]
“连锁火锅第一股”呷哺呷哺五年间累计亏损超13亿