www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Companies

XE Flavor's services and trademarks sold for $48m

By WANG ZHUOQIONG (China Daily) Updated: 2014-12-16 09:27

XE Flavor's services and trademarks sold for $48m

An XE Flavor restaurant in Wuhan, Hubei province. The former high-end catering and restaurant company has sold all its XE Flavor catering services and trademarks for 300 million yuan.[Provided to China Daily] 

XE Flavor Group Co Ltd, the former high-end catering and restaurant company, has sold all its XE Flavor catering services and trademarks for 300 million yuan ($48.46 million) to Shenzhen Jiajia Catering Service Co, the company said in regulatory a statement.

The company, which is now operating under the name China Science Cloud Technology Group Ltd, shifted its core businesses from catering to Internet services and cloud technology earlier this year.

Of the property sold, 164 of the items are worth 230 million yuan. The move is expected to pay back some of the debts accrued in 2012 when the company issued a series of five-year bonds worth 474 million yuan.

Meng Kai, chairman of China Science Cloud who has been abroad for two months, told reporters that the deal was done "in tears", despite describing the offer from Shenzhen Jiajia Catering as the highest so far.

XE Flavor, a listed catering company, saw revenue fall 41.2 percent to 802 million yuan in 2013 which it blamed on "changes in the operating environment and a sharp drop in consumption", according to its last full set of financials. About 13 restaurants were shut down. Within its last half-year results the company revealed plans to sell four more outlets.

Its third-quarter results showed a further loss of 95.6 million yuan, and it said it was expecting an annual loss of between 180 million yuan and 190 million yuan.

It announced its radical change in direction in July, switching from catering to Internet services and cloud technology, the result of a collaboration with the Institute of Computing Technology at the Chinese Academy of Sciences.

In March, XE acquired 51 percent of Beijing CCTV Splendid Film and TV Corp Ltd for 20 million yuan. It also acquired Hefei Tianyan Green Energy Development Co Ltd in December and made an investment in Jiangsu Shengyi Environmental Technology Co Ltd.

The curbs on luxury spending have resulted in a serious drop in revenue and profits by many high- and medium-end restaurants.

According to a report by the China Cuisine Association report, the catering industry has seen some signs of recovery this year. In the first 10 months of the year, the sector's revenue rose 9.7 percent to 2.26 trillion yuan.

However, Bian Jiang, its deputy director, said it would still take a long time for luxury restaurants to regain their previous market share, given that rising rents and wages continued to seriously affect their situation.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 久久亚洲精品无码观看不卡 | 国产成人女人视频在线观看 | 亚洲国产成人久久午夜 | 亚洲免费专区 | 综合亚洲欧美日韩一区二区 | 久草在线资源 | 国产一在线精品一区在线观看 | 中国一级毛片特级毛片 | 在线观看一级 | 成人看片黄a免费看视频 | 日本三级一区 | 亚洲天堂在线视频播放 | 成人性视频免费网站 | 手机在线精品视频 | 亚洲天堂久久精品成人 | 精品国产一区二区三区在线 | 国产婷婷一区二区在线观看 | 亚洲一区二区三区在线网站 | 国产精品亚洲精品日韩已满 | 九九视频免费观看 | 在线观看一级片 | 久久成人动漫 | 国内精品久久久久影院老司 | 国产精品一区二区在线观看 | 国产在线精品一区二区三区不卡 | 久久香蕉精品视频 | 日本午夜三级 | 另类亚洲视频 | 国产精品亚洲片在线观看不卡 | 成人五级毛片免费播放 | 成人在线视频免费观看 | 老司机亚洲精品影院 | 日本一级大黄毛片免费基地 | 欧美精品免费线视频观看视频 | 长腿嫩模打开双腿呻吟 | 成人免费黄网站 | 免费黄网在线观看 | 男人天堂视频在线 | 国产成人精品曰本亚洲77美色 | 91精品欧美综合在线观看 | 国产欧美另类 |