BRIEF: Shanghai XNG first-half loss balloons
3666.HK
Restaurant operator Shanghai XNG Holdings Ltd. (3666.HK) warned on Wednesday that it will report a loss of up to 30 million yuan ($4.21 million) for the first half of this year, up nearly ninefold from its loss of 3.4 million yuan a year earlier.
It blamed the sharp increase on weak consumer sentiment in China, which caused its revenue to slump by 20% to 30% during the period. Losses in the fair value of its financial liabilities were also partly to blame. The company said it plans to enhance its competitiveness through more online and offline promotions in the future.
By Lau Chi Hang
To subscribe to Bamboo Works free weekly newsletter, click here
Related Articles
FAST NEWS: Autohome rolls out $200 million share buyback
ATHM.US
2518.HK
FAST NEWS: Baozun’s loss narrows as brand business slips
BZ.US
9991.HK
BRIEF：Trip.com profit leaps on travel rebound
9961.HK
TCOM.US
RELATED ARTICLES
-
Xiabuxiabu shutters stores, cuts prices in bid to stop flow of red ink
9922.HK -
Jiumaojiu takes a taste of franchising
9922.HK
-
Why investors are waiting to check into GreenTree Hospitality
GHG.US
-
Legend Holdings shows diversification isn’t always a winning formula
3396.HK
- Green Tea brews up IPO-funded small-town expansion plan
-
Jiumaojiu sinks as consumers shun its pricey ‘sauerkraut fish’
9922.HK
