Ajisen Joins Yum China With Weak Results Amid Lockdowns

Ajisen (China), a large China restaurant chain that specializes in Japanese-style noodles, has joined a food and beverage industry flock posting weak financial results for the first half of 2022 in connection with the country’s “zero Covid” lockdowns.

Ajisen expects to report a net loss of 90.0 million yuan, or $13 million, to 130.0 million yuan for the first six months of 2022, compared with net earnings of 49.7 million yuan a year earlier, the company said in a filing on Friday.

The reversal is “primarily attributable” to a 33% plunge in revenue from a year earlier to 677.5 million yuan, Ajisen said. “The decrease

→ Continue reading at Forbes

[ufc-fb-comments url="http://www.newyorkmetropolitan.com/life/ajisen-joins-yum-china-with-weak-results-amid-lockdowns"]

Latest Articles

Related Articles