Xufulou Group (01978) announced interim results. Shareholders' losses of HK$17.414 million increased 2651% year-on-year

According to the Zhitong Finance App, Xufu Lou Group (01978) announced interim results for the six months ended June 30, 2026. The group obtained revenue of HK$506 million, a year-on-year decrease of 6.29%; losses attributable to the company's equity holders were HK$17.414 million, an increase of 2651% over the previous year; and a loss of 2.18 HK cents per share.

According to the announcement, the increase in net loss was mainly due to revenue pressure caused by weak consumer demand, as well as the Group's strategic restructuring of its restaurant network, and ongoing active transformation initiatives. This situation was further exacerbated by one-time expenses incurred during the period, which mainly included the lapse of lease deposits and impairment provisions for the right to use assets and property, plant and equipment due to the write-off of property, plant and equipment and store closure, as well as losses due to the Group's share of an associated company, which was mainly due to the initial start-up and pre-operation costs of the associated company after the joint venture began operations in May 2026.