On the evening of July 2 1, Christine responded in her official mall that we have started all preparations for the factory to resume work, and all stores will open on August 1.
Christine said, "The COVID-19 epidemic since 2020 has dealt a heavy blow to Christine's business, and the Shanghai epidemic in 2022 once brought the business development to a standstill. Even so, Christine is still stubbornly adjusting and trying to start over. In addition, Christine card coupons that expired during the epidemic can still be consumed after the store resumes business. "
On July 2 1 day, a reporter from CBN passed by a Christine shop in Dingxi Road, Wuyi Road, Changning District, and found that the shop had been renovated and would soon be converted into a steamed stuffed bun shop, but the original word "Christine" had not been erased. On July 22, the reporter searched for "Christine" in the public comment and found that dozens of Christenses had closed down in Shanghai.
According to the data of official website, Christine has been producing and selling baking products since 1993, mainly engaged in prime locations and major cities in the Yangtze River Delta region. 20 12 February, Christine landed on the Hong Kong Stock Exchange.
Christine's business has been bad. The financial report shows that Christine has been losing money for nine consecutive years from 20 13 to 202 1. Among them, the net profits attributable to mothers in 20 19, 2020 and 20021were-224 million yuan,-1. 1 billion yuan and-1700 million yuan respectively. The number of shops in Christine has been decreasing. According to the annual report, Christine closed 55 stores in 202 1 year, 99 stores in 2020 and 2017 stores.
Christine said in her annual report, "Due to fierce competition from competitors and other businesses, we continue to face risks and uncertainties in the baking industry. We continue to adopt the policy of closing unprofitable shops, which have suffered a lot of losses, increased costs or poor locations. The increase in manpower and raw materials is another persistent risk and uncertainty faced by the Group in its operations. "
The baking industry is highly competitive. In recent years, new consumer brands have emerged constantly, and they have also taken a share in this track. According to the consulting data of Ai Media, in 20021year, the market size of baked goods in China was about 260.08 billion yuan, up by 19.9% year-on-year. It is predicted that the market size of baked goods in China will further increase to 306.99 billion yuan in 2023.