Core Insights - The company reported a revenue decline of 18.9% year-on-year to RMB 1.94 billion for the six months ending June 30, 2025 [1] - The net loss decreased by 70.5% year-on-year to RMB 80.8 million, attributed to cost optimization efforts and operational efficiency improvements [1] Financial Performance - Revenue decreased by 18.9% to RMB 1.94 billion [1] - Net loss reduced by 70.5% to RMB 80.8 million [1] - Loss per share was RMB 8.01 [1] Operational Developments - The company operated a total of 937 restaurants globally, with 918 in mainland China and 19 in Hong Kong, Macau, and other markets as of June 30, 2025 [2] - In the first half of 2025, the company opened 32 new restaurants in mainland China [2] - The company operates 760 restaurants under the "Xiabuxiabu" brand and 158 "Coucou" restaurants in 18 provinces and 3 municipalities in mainland China [2]