Xiabuxiabu 2026 H1 Revenue Down 23% to RMB1.49 billion; Haidilao Other Restaurants Up 113.1%
Xiabuxiabu Group reported 2026 first-half revenue of RMB1.49 billion, down 23% year-on-year, with net loss narrowing 55.2% to RMB36.2 million. Separately, Haidilao's multi-brand dining segment revenue rose 113.1% to RMB1.27 billion, accounting for 5.7% of group revenue, as its expanded formats scaled up.
Xiabuxiabu (00520. HK) released its 2026 interim results on the evening of August 27. The announcement showed that in the first half of 2026, the group generated revenue of RMB1.49 billion, a year-on-year decline of 23%, while its net loss narrowed to RMB36.2 million, down 55.2% from RMB80.8 million in the first half of 2025.
The company said it focused on a "quality and efficiency dual improvement" system for restaurant operations during the reporting period, implementing multiple measures to enhance performance. The group continued to deepen its supply-chain lean management strategy, strengthened its membership operation system, and boosted member repurchase rates through tiered marketing and targeted discounts, while reducing the scale of loss-making stores. At the same time, the group pushed forward structural upgrades of its restaurants, strategically closing low-efficiency outlets and concentrating on high-potential regions. According to the financial report, gift card sales in the first half of 2026 exceeded RMB330 million, with more than 860,000 cards sold and over 1.2 million new members added.
Haidilao recently released its financial results, showing that its multi-brand dining segment generated revenue of RMB1.27 billion, a year-on-year increase of 113.1%, lifting its share of group revenue to 5.7%. Leveraging its "Red Pomegranate Plan," Haidilao shifted from scale expansion to efficiency improvement. Formats such as Daipaidang hotpot and Ru Yi sushi have matured their single-store models and begun scaled replication. As of July 2026, Haidilao operated 12 Daipaidang hotpot stores nationwide.