Xiabuxiabu (00520) is now down more than 4%. As of press release, it is down 4.52% to HK$1.69, with a turnover of HK$11.694 million.
The Zhitong Finance App learned that Xiabuxiabu (00520) is now down more than 4%. As of press release, it is down 4.52% to HK$1.69, with a turnover of HK$11.694 million.
According to the news, Xiabuxiabu will release its annual results next Wednesday (March 27). The company previously announced that it expects revenue of about RMB 5.9 billion for the year ended December 31, 2023, an increase of about 25% over the previous year. Compared with the net loss of about $331 million in 2022, it is expected that a net loss of between $180 million and $200 million will be recorded in 2023. The loss is narrower than the previous year.
Morgan Stanley previously released a research report stating that according to Xiabuxiabu (00520)'s “in sync with the market” rating, market revenue and profit forecasts for 2024 are expected to be at risk of downside, and the target price was lowered from HK$4.3 to HK$2.4. Damo believes that Xiabuxiabu's stock price within the next 15 days will outperform its peers. Due to the continued expansion of the industry and the slowdown in net store opening in 2024, the company will lose market share.