Ajisen sales end year in hot soup

Staff reporter

Ajisen (China) Holdings' (0538) sales fell by more than 20 percent in the final quarter of last year.

The ramen restaurant operator's sales for the fast casual restaurant business tumbled by 21.5 percent year on year, while same-store sales growth also plunged 32.5 percent.

Ajisen's news came as Anta Sports Products (2020) said Ding Shizhong will retire as chief executive but remain chairman, effective February 1.

Ding will still oversee internal audit and supervision functions and mergers and acquisitions initiatives.

But he will cease to oversee Anta's supply chain management.

Lai Shixian, who will be co-chief executive and quit as chief financial officer, will be in charge of the Anta and all other brands, except Fila.

Fila will be domain of Wu Yonghua, who steps down as head of its performance sports group, and join Lai as co-chief executive.

Bi Mingwei will become the chief financial officer.