(Infocast News) SHANGHAI XNG (03666) expects to record a loss of not more than RMB73 million attributable to equity shareholders of the company for the six months ended 30 June 2022, as compared with a loss of RMB5.4 million for the corresponding period in 2021.

Such increase in loss is mainly attributable to the decrease in the group’s profit generated from retail operations as a result of temporary closure of some of the group’s restaurants located in China due to the prolonged travel restrictions and preventions and control measures of the China government to contain the spread of the new COVID-19 variant. (WL)