For sip feed large-scale closure of more than 80 stores, sip feed group explained that the reason for the closure of these restaurants is that most of the loss, most do not meet the sip feed to promote the "cost-effective" mode of operation in the region, and its mode is not able to properly reflect the brand image.

The financial report shows that in 2023, Gluttony Group will continue to implement the expansion strategy, at the same time will focus on the development of East China, South China and other southern markets, in which the Gluttony brand in 2023, no less than 100 restaurants opened, the main plan in Shanghai, Guangzhou and Shenzhen and other first-tier cities in the southern region, the number of restaurants opened no less than 50% of the overall number of openings. Minute Maid will also further encrypt its layout in East China and South China.

In addition, the Gluttony Group sees a huge potential market for its seasoning products business. The Group has launched seasoning products such as hotpot soup base, dipping sauces and kitchen sauces, and will continue to launch frozen products and convenience products.

In the announcement, Gluttony, which has suffered losses for two years in a row, still threw out a more optimistic attitude, saying it believes the restaurant industry will have a bumper year in 2023 with the change in policy.

Gluttony Group Profile

Gluttony has always been adhering to the "hygiene and cleanliness first, nutrition and fast for the importance of mass consumption is the basis of the friendly care appropriate" business philosophy, through 16 years of unremitting efforts, successful in Beijing, Shanghai, Tianjin, Heilongjiang, Liaoning, Hebei, Shandong, Jiangsu, Shanxi, Henan and other provinces directly more than 400 stores.

Over 30 cities (as of Q1 2015) including Beijing, Shanghai, Nanjing, Tianjin, Harbin, Shenyang, Suzhou, Wuxi, Changzhou, Jinan, Shijiazhuang, Langfang, Qinhuangdao, Zhangjiakou, Zibo, Taiyuan, Zhengzhou, and so on.