Core Viewpoint - The company, Xiaobai Xiaobai, anticipates a revenue decline of approximately 18.9% year-on-year for the first half of the year, with expected losses between RMB 0.8 billion and RMB 1.0 billion, representing a year-on-year decrease in losses of about 63.2% to 70.5% [1] Financial Performance - For the year ended December 31, 2024, the company reported a revenue of RMB 4.75 billion, down from RMB 5.92 billion in 2023 [2] - The company has been experiencing continuous losses since 2021, with net losses of RMB 293 million in 2021, RMB 353 million in 2022, RMB 199 million in 2023, and an expected loss of RMB 401 million in 2024, totaling approximately RMB 1.33 billion in cumulative losses [2] Market Reaction - Following the announcement, the company's stock price fell by 3.85% to HKD 0.75 per share, with a total market capitalization of HKD 8.15 billion [3][4] - Since the peak in January 2023, the stock has declined over 92%, leading to its classification as a "penny stock" [3] Company Background - Founded in 1998, Xiaobai Xiaobai transformed the Taiwanese hot pot concept into a rotating hot pot format and went public in 2014, becoming the first listed chain hot pot company [6] - The company has launched several brands, including "Cha Mi Cha" in 2015, "Cou Cou" in 2016, and "Chen Shao" in 2022, with over 95% of revenue coming from Xiaobai Xiaobai and Cou Cou brands [6]

Group 1: Market Overview - The Hong Kong stock market opened lower but rebounded, with the Hang Seng Index closing at 24,627.25 points, up 119.44 points, or 0.49% [1] - The Hang Seng Tech Index also rose, closing at 5,447.62 points, up 50.22 points, or 0.93% [1] - Gold stocks in Hong Kong surged, with Shandong Gold and Chifeng Gold rising over 9% due to increased attractiveness of gold amid Fed rate cut expectations [1][16] Group 2: Company Performance - Xia Bo Xia Bo - Xia Bo Xia Bo, known as the "first rotating hot pot stock," announced a projected revenue of approximately RMB 1.9 billion for the first half of the year, a year-on-year decrease of about 18.9% [3] - The company expects a net loss between RMB 80 million to 100 million, with a year-on-year decline in losses of approximately 63.2% to 70.5% [3] - Since 2021, Xia Bo Xia Bo has faced continuous losses, accumulating a total loss of approximately RMB 1.326 billion from 2021 to 2024 [4] Group 3: Stock Performance - Xia Bo Xia Bo - Xia Bo Xia Bo's stock price fell nearly 4% in early trading, with a cumulative decline of over 92% since its peak in January 2023, leaving a market capitalization of only HKD 815 million [5] - The stock price was reported at HKD 0.75 per share, reflecting a drop of 3.85% [5][6] Group 4: Gold Market Dynamics - The recent surge in gold prices, with London gold spot prices rising over 2% to USD 3,362.64 per ounce, has been attributed to increasing expectations of a Fed rate cut [16] - This rise in gold prices has led to a significant increase in the stock prices of gold companies in Hong Kong, with several stocks rising over 8% [15][16] Group 5: InnoTek's Market Activity - InnoTek's stock price increased by over 40% in two trading days, driven by a partnership with NVIDIA to promote an 800 VDC power architecture for AI data centers [9][12] - The stock price reached HKD 62.65, with a market capitalization of HKD 56.03 billion [11]