HK Stock Market Move | SHANGHAI XNG(03666) is currently down 4%, with its ten restaurants temporarily suspending operations and processing refunds of deposits for customers.

SHANGHAI XNG (03666) plunged straight at the opening this morning, falling over 16% at one point, following a drop of over 28% yesterday. As of the time of writing, it is down 4%, at HK$0.024, with a trading volume of HK$656,500. On the news front, on the evening of February 10, SHANGHAI XNG announced that the board of directors had noted a news report published by a local media outlet on February 10, 2026. The article reported that all restaurants operated under the "SHANGHAI XNG" brand in Shanghai had closed. The board of directors clarified that the company currently operates ten restaurants under the SHANGHAI XNG brand, which have temporarily ceased operations to align with the group's strategic restructuring. The board of directors also clarified that the statement in the article regarding "deposits and prepaid cards are non-refundable" is incorrect. The company is processing deposit refunds for customers, and the funds for prepaid cards are held in designated escrow accounts that are available for refunds. Board members are committed to ensuring all deposits and prepaid cards are properly refunded to customers as promised.