The company has upgraded the detail with which it reports results so that we can now substitute management provided information for some of the informed guesstimates that I attempted in a prior post.
For the moment, I am particularly interested in the question: How much did the company earn before its investments in the Huafa mall and in the food souvenir business?
This is what the answer appears to be:
and
therefore
One or two seemingly reasonable assumptions (50% gross margin for the food court; pro rata share of mall operating expenses by floor area) and we can surmise further that the Huafa restaurants are operating at or above breakeven:
The food court will be closed at the end of August.
Disclosure: I own shares in this company
