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Tag: Ajisen

  • Ajisen China sales on the up

    Ajisen China sales on the up

    Ajisen China has reported a 4.8 per cent improvement in same-store sales for the June quarter.

    The Hong Kong-listed fast-casual restaurant operator combined sales in its local operations with those in the mainland and did not comment on the respective markets this reporting period.

    Overall sales for the restaurant business rose by 6.4 per cent, reflecting network expansion.

    The sales growth is a marked turnaround from the same period a year ago, when it reported a 10.8 per cent sales decline in Hong Kong and 1.8 per cent drop on the mainland, citing stiff competition in the restaurant and catering sector, especially in Mainland China.

    Ajisen China operates Ajisen Ramen restaurants under licence to the Japanese brand owner.

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  • Ajisen China has mixed third quarter

    Ajisen China has mixed third quarter

    A high in China almost equally matched by a dip in Hong Kong has resulted in a mixed third quarter for Ajisen China Holding’s fast-casual restaurant business.

    Same-store sales in Hong Kong fell by 9 per cent for the three months to the end of September, while the growth rate in China had an upswing of 9.7 per cent.

    Overall, the group’s business sales saw 6.4 per cent growth compared to the same period a year ago.

    Chairman Poon Wai says the figures have not yet been reviewed or audited.

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  • Turnover dips as Ajisen (China) under pressure

    Turnover dips as Ajisen (China) under pressure

    While half-year turnover edged down 2.5 per cent for restaurant group Ajisen (China) Holdings, its core profit grew 36 per cent.

    Its turnover was RMB1.1 billion (US$165.2 million) while the profit reached RMB135 million.
    Gross profit margin, up 2.3 points, was 73.1 per cent, while the gross profit reached about RMB841 million, up 0.7 per cent. Profit attributable to the owners of the company fell by about 80.9 per cent to RMB108 million.

    Ajisen says competition in the foodservice industry has intensified, with high opening and closing rates emerging as the new norm. As an example, it cites a surge of new restaurants in Beijing, Shanghai, Guangzhou and Shenzhen being accompanied by a higher rate of take-over with a monthly closure rate of 10 per cent, and a compound annual closure rate exceeding 100 per cent.

    Also the shopping centre/catering model is under pressure, says the company, as a result of lower flow aggregation and insufficient customer numbers because of the homogenisation of shopping centres. Catering outlets in shopping malls in 10 cities recorded a closure rate of more than 30 per cent.

    Meanwhile, the takeaways segment of the industry is growing rapidly with an accent on healthy eating. Statistics for last year show that overall transactions in the segment sharply increased to more than RMB150 billion in value, accounting for 4 per cent of the catering industry total.

    Ajisen says its management will actively explore and seek opportunities to transform, adopting a lean management approach and establishing smart stores to enhance the customer experience.

    At the end of June the group had 649 fast-casual chain restaurants, down 13 from the same time last year. However, its network extended its reach to 31 provinces and municipalities in China, amounting to 133 cities, 11 more than last year.

    Four major production bases were launched – in Shanghai, Chengdu, Tianjin and Dongguan – to support the group’s expansion.

    As well as China, the group has 29 restaurants in Hong Kong, down eight from last year, and one in Rome, Italy.

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  • Ajisen, Katrina Group sign So Pho deal

    Ajisen, Katrina Group sign So Pho deal

    Aiming to grow in China and enter the Hong Kong market, Singapore F&B company Katrina Group has signed an agreement with Big Benefit Group, a wholly owned subsidiary of Ajisen (China) Holdings.

    Under the deal, Katrina will hold a 30 per cent stake in the JV company, which manages snack bars, cafes, restaurants and other food services. It serves Vietnamese-style dishes under the brand So Pho in China and Hong Kong.

    Katrina founder/CEO/executive chairman Alan Goh says Ajisen is one of the largest restaurant chains in China. ‘This collaboration will extend our geographical reach in China and help us enter the Hong Kong market. It is a bold step in further strengthening Katrina as a regional F&B group.”

    Hong Kong-listed Ajisen China has nearly 700 restaurants in 120 cities and 30 provinces in China and Hong Kong, while Katrina Group, which specialises in multi-cuisine concepts, owns and runs 33 restaurants in Singapore under nine brands including Bali Thai and Streats.

    Ajisen China and Katrina will provide working capital for So Pho International of up to US$1.05 million and $450,000 respectively through an interest-free shareholders’ loan.

    Katrina will also trademark So Pho International in Mainland China with an exclusive right to sub-license and franchise the trade name of “So Pho”.

    “With our strong track record and Katrina’s brand development capabilities, we look forward to growing the So Pho brand in China and Hong Kong,” says Ajisen China founder/chairman/CEO Wai Poon.

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  • Katrina Group plans So Pho restaurants for Hong Kong

    Katrina Group plans So Pho restaurants for Hong Kong

    Singapore’s Katrina Group, an F&B business specialising in multi-cuisine concepts, has taken a step toward opening So Pho restaurants in China and Hong Kong.

    It has signed a non-binding memorandum of understanding with fast-casual restaurant group Ajisen (China) Holdings regarding collaboration on the restaurants. The parties will negotiate and determine if this will be through a franchise or JV, with a definitive agreement expected to be finalised within the next few months.

    Ajisen China, which is listed on the mainboard of Hong Kong Stock Exchange, has a chain of restaurants under different brands in China and Hong Kong.

    Katrina founder/CEO/executive chairman Alan Goh says the collaboration is a step toward the company’s aim of growing its overseas presence and diversifying its revenue stream.

    Katrina Group owns and runs 33 restaurants in Singapore under nine different brands, including Bali Thai and Streats, which services streetfood-style dishes. It also has two restaurants in China.

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