Xiabuxiabu publishes 2025 annual report

• Xiabuxiabu annual report for year ended Dec. 31, 2025 outlined ongoing turnaround efforts amid weak demand and intense competition, with group avoiding delivery-platform price wars while pushing “value-for-money” positioning.
• Restaurant footprint was reset through net closures, with 57 openings offset by 109 shutdowns, leaving 905 restaurants in operation at year-end.
• Xiabuxiabu brand introduced “Phoenix Return” partnership program in July to bring back former staff as partners, aiming to lift restaurant performance.
• New growth formats launched late in year, including self-select hotpot concept Xiabu Pasture in Shanghai with entry pricing from RMB 29.82.
• Coucou continued network optimization while shifting toward a dual model combining selected à la carte with all-you-can-eat, as dine-in traffic recovery remained uneven.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Xiabuxiabu Catering Management (China) Holdings Co. Ltd. published the original content used to generate this news brief via IIS, the Issuer Information Service operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20260416-12109079), on April 16, 2026, and is solely responsible for the information contained therein.