Restaurant chain Din Tai Fung (鼎泰豐) today announced it is to close 14 stores in northern China, completely exiting the market by the end of October.
Beijing Hengtaifeng Catering Co (北京恆泰豐餐飲), which operates Din Tai Fung restaurants in northern China, said its 20-year operating license expires this year.
As the board was unable to reach a consensus on continuing operations, its 14 restaurants in the region are to close by Oct. 31, it said.
Photo: Yang Ya-min, Taipei Times
The company apologized for the inconvenience and disappointment the news would cause among its customers, and said it would provide compensation for its workers.
“We continue to be optimistic about the mainland market and will continue to keep an eye on trends and developments in the restaurant industry,” it said. “Hopefully we can work together again in the near future.”
Din Tai Fung opened its first Beijing location in 2004. It currently has 30 stores in China, in Shanghai, Beijing, Hangzhou, Shenzhen, Guangzhou, Suzhou, Xi’an, Wuxi, Qingdao and Xiamen.
The soup dumpling restaurant works with a different partner to operate restaurants in eastern China.
Additional reporting by Yang Ya-min
Nvidia Corp chief executive officer Jensen Huang (黃仁勳) on Monday introduced the company’s latest supercomputer platform, featuring six new chips made by Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), saying that it is now “in full production.” “If Vera Rubin is going to be in time for this year, it must be in production by now, and so, today I can tell you that Vera Rubin is in full production,” Huang said during his keynote speech at CES in Las Vegas. The rollout of six concurrent chips for Vera Rubin — the company’s next-generation artificial intelligence (AI) computing platform — marks a strategic
Shares in Taiwan closed at a new high yesterday, the first trading day of the new year, as contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) continued to break records amid an artificial intelligence (AI) boom, dealers said. The TAIEX closed up 386.21 points, or 1.33 percent, at 29,349.81, with turnover totaling NT$648.844 billion (US$20.65 billion). “Judging from a stronger Taiwan dollar against the US dollar, I think foreign institutional investors returned from the holidays and brought funds into the local market,” Concord Securities Co (康和證券) analyst Kerry Huang (黃志祺) said. “Foreign investors just rebuilt their positions with TSMC as their top target,
Enhanced tax credits that have helped reduce the cost of health insurance for the vast majority of US Affordable Care Act enrollees expired on Jan.1, cementing higher health costs for millions of Americans at the start of the new year. Democrats forced a 43-day US government shutdown over the issue. Moderate Republicans called for a solution to save their political aspirations this year. US President Donald Trump floated a way out, only to back off after conservative backlash. In the end, no one’s efforts were enough to save the subsidies before their expiration date. A US House of Representatives vote
REVENUE PERFORMANCE: Cloud and network products, and electronic components saw strong increases, while smart consumer electronics and computing products fell Hon Hai Precision Industry Co (鴻海精密) yesterday posted 26.51 percent quarterly growth in revenue for last quarter to NT$2.6 trillion (US$82.44 billion), the strongest on record for the period and above expectations, but the company forecast a slight revenue dip this quarter due to seasonal factors. On an annual basis, revenue last quarter grew 22.07 percent, the company said. Analysts on average estimated about NT$2.4 trillion increase. Hon Hai, which assembles servers for Nvidia Corp and iPhones for Apple Inc, is expanding its capacity in the US, adding artificial intelligence (AI) server production in Wisconsin and Texas, where it operates established campuses. This
RSS