Caixin
Jan 12, 2023 08:33 PM
BUSINESS

Duck Snack Chain’s Weak Earnings Outlook Ruffles Market Feathers

Workers prepare orders at a Zhouheiya chain store in Beijing in October 2021. Photo: VCG
Workers prepare orders at a Zhouheiya chain store in Beijing in October 2021. Photo: VCG

Shares of Zhou Hei Ya International Holdings Co. Ltd. nosedived more than 27% in two days, after the Chinese duck snack chain forecast lackluster earnings for 2023 amid rising raw input costs.

The stock fell as much as 25.86% during Wednesday trading, paring some of the losses to end the day down 22.95% at HK$4.50 (57.6 U.S. cents) apiece. The downward trend continued Thursday with a further 5.78% drop to close at HK$4.24, valuing the firm at HK$10.1 billion.

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