Best Food Holding suffers widening loss amid market pressures

Best Food Holding Company Limited announced its annual results, revealing a loss of RMB257.85 million for the year ended December 31, 2024, compared to RMB162.695 million in the previous year. Revenue decreased by 22.3% to RMB474.209 million, attributed to intensified market competition, strategic transformation and a reduction in directly operated stores. The company recognized impairment losses on trademarks of approximately RMB93.5 million and on investments in associates of approximately RMB71.4 million. While striving to improve performance and control costs, Best Food faces challenges in the catering sector, impacting restaurant operations. The company's total borrowings reached RMB20.9 million, and convertible bonds and related interests totaled RMB647.8 million. No final dividend was declared for the year.