Monday, February 24, 2020
Martin Hennecke

Buffet chain passes listing hearing
Japanese restaurant operator Daikiya has passed a listing hearing for its initial public offering in Hong Kong. Daikiya's monthly revenues from June to November decreased between 3 percent and 32 percent year-on-year due to the unrest. Its average monthly net profit decreased significantly as a result of the decrease in customers and an increase in operating costs such as staff costs for its new Sha Tin branch. Last December, revenues fell by 13 percent year-on-year and the number of customers by 6 percent. In other news, Hong Kong Exchanges and Clearing (0388) chief executive Charles Li Xiaojia said Chinese companies listed overseas have no reason not to go back to Hong Kong. But Li also said it does not necessarily mean every company will come back, as it depends on conditions.
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