Major Duck Snack Chains Predict Profit Plunge

China’s three major duck snack chains have estimated a year-on-year drop of between 70% and 90% in their 2022 profits, which the firms attributed to strict Covid-19 control measures that hindered business operations and restricted customer traffic.

Zhou Hei Ya International Holdings Co. Ltd., known for producing marinated food made from duck meat and gizzards, expects to post a net profit of at least 20 million yuan ($2.9 million) in 2022, representing a year-on-year drop of 94.2%, according to a Monday exchange filing.