HK-listed restaurant chain Xiabuxiabu hits near 9-week low on weak H1 forecast

Xiabuxiabu Catering Management (China) Holdings

07/08/2019 03:24

** Shares of hot pot restaurants chain operator Xiabuxiabu
Catering Management (China) Holdings Co Ltd  0520.HK  fall as
much as 8.4% to HK$9.69, their lowest since June 6
    ** Stock ranks 10th biggest percentage decliner in early
trade
    ** Co, which operates a network of over 1,000 restaurants in
the mainland, expects its first half profit to "decrease
significantly" from a year ago period, amid higher expenses on
restaurants leases due to application of International Financial
Reporting Standard  urn:newsml:reuters.com:*:nFWN2520CU
    ** Beijing-based company, with current market value at
HK$10.49 billion ($1.34 billion), says the expenses will
decrease during the latter part of the lease term 
    ** Co says interim results will be published by end-August 
    ** As of Tuesday's close, the stock had fallen 14.4% so far
this year
    ** Xiabuxiabu Catering has underperformed the Hang Seng
Commerce & Industry Index sector  .HSNC  by 1.5 percentage
points in the past one month
    ** The Hang Seng China enterprises index  .HSCE  eases 0.7%,
and the benchmark index  .HSI  slides 0.5% on Wednesday


($1 = 7.8367 Hong Kong dollars)

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)