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    Consumer services

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    Restaurants
Ajisen (China) Holdings Limited

Ajisen (China) Holdings Limited

HHKEX:538
0.79
HKD
0.00
(0.00%)
938.72MMarket Cap
Apr 01Next Earn
Ajisen (China) Holdings Limited
HKEX:538
(Hong Kong Exchange)

Recent

price

0.79

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
CNY
2.14
2.32
2.28
2.33
2.43
2.33
2.18
2.14
2.18
2.35
1.67
1.83
1.31
1.66
1.57
1.68
- -
Revenue per Share
0.36
0.26
0.12
0.2
0.2
0.17
0.61
-0.45
0.5
0.14
-0.07
0.02
-0.13
0.17
-0.02
0.03
- -
Basic EPS, GAAP
0.24
0.01
0.04
0.18
0.19
0.19
0.27
0.15
0.14
0.31
0.26
0.27
0.22
0.4
0.29
0.34
- -
Free Cash Flow per Basic Share
0.13
0.23
0.11
0.12
0.14
0.15
0.15
0.1
0.07
0.14
0.07
0.1
0.08
0.06
0.08
0.06
- -
Dividend per Share
2.21
2.2
2.23
2.34
2.47
2.52
3.07
2.5
2.96
3.05
2.89
2.8
2.63
2.75
2.67
2.61
2.61
Book Value per Share
2.18
2.08
2.11
2.23
2.36
2.41
2.99
2.43
2.9
3.01
2.86
2.77
2.6
2.72
2.63
2.58
2.58
Tangible Book Value per Share
1,069
1,072
1,074
1,085
1,091
1,092
1,092
1,092
1,092
1,092
1,092
1,092
1,092
1,092
1,092
1,092
1,092
Basic Weighted Avg Shares
2,284
2,489
2,450
2,532
2,655
2,545
2,379
2,332
2,378
2,565
1,821
1,996
1,430
1,815
1,717
1,832
- -
Sales/Revenue/Turnover
22.49
13.31
4.03
9.2
9.73
9.18
10.86
13.55
10.01
4.95
-0.78
1.61
-7.37
7.54
0.99
3.58
- -
Operating Margin (%)
110
118
140
143
151
161
161
149
155
415
444
380
367
317
321
341
- -
Depreciation Expense
381
283
124
212
220
185
665
-487
551
156
-78
21
-144
181
-20
28
- -
Net Income, GAAP
24.69
29.09
30.15
21.72
28.67
30.56
16.9
- -
16.1
27.22
- -
65.75
- -
22.33
- -
47.19
- -
Effective Tax Rate (%)
16.69
11.38
5.07
8.38
8.3
7.25
27.96
-20.87
23.17
6.1
-4.28
1.05
-10.06
9.98
-1.18
1.55
- -
Profit Margin (%)
1,364
1,074
1,073
1,189
1,311
967
888
1,139
1,323
1,265
1,295
1,234
1,186
1,435
1,367
1,370
1,370
Working Capital
- -
- -
- -
58
57
57
57
51
50
464
425
410
261
266
394
424
424
LT Debt
2,427
2,426
2,466
2,627
2,789
2,919
3,619
2,946
3,306
3,408
3,229
3,114
2,921
3,058
2,967
2,905
2,905
Total Equity
16.99
10.46
2.27
6.28
6.03
4.52
5.33
- -
5.61
2.2
- -
0.21
- -
2.82
- -
0.95
- -
Return on Invested Capital (%)
15.45
10.45
4.5
7.6
7.23
5.23
15.38
- -
15.97
4.37
- -
0.87
- -
5.34
- -
1.06
- -
Return on Capital (%)
16.99
11.96
5.22
8.58
8.39
6.77
21.81
-16.01
18.48
4.77
-2.4
0.67
-4.85
6.17
-0.68
0.99
- -
Return on Common Equity (%)

Capital Structure

CNY

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
217
219
229
LT Borrowings
29
27
25
LT Finance Leases
365
365
399
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,092
1,092
1,092
Market Capitalization
872
857
844

Working Capital

CNY

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
1,876
1,893
1,903
Cash, Cash Equivalents & STI
1,640
1,659
1,680
Accounts Receivable, Net
16
17
16
Inventories
77
68
69
Total Current Liabilities
509
548
533
Payables & Accruals
- -
- -
- -
ST Debt
217
219
229
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
0.53%
-2.02%
-2.09%
Free Cash Flow
14.22%
11.06%
16.14%
Net Income, GAAP
-183.89%
-298.33%
-240.47%
Sales/Revenue/Turnover
-1.82%
1.91%
6.68%
Total Cash Common Dividend
0.26%
1.72%
-25%

Semi-annual Revenue

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
1,815
2024
- -
- -
1,717
2025
- -
- -
1,832

Semi-annual Earnings Per Share

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.17
2024
- -
- -
-0.02
2025
- -
- -
0.03

Semi-annual Dividends Per Share

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.06
2024
- -
- -
0.08
2025
- -
- -
0.06
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Business
Ajisen (China) Holdings Limited, an investment holding company founded in 1996 and headquartered at 6th Floor, Ajisen Group Tower, Block B, 24-26 Sze Shan Street, Yau Tong, Kowloon, Hong Kong, operates a leading chain of fast casual restaurants specializing in Japanese ramen and Japanese-style dishes under the Ajisen brand; manufactures, trades and sells noodles and related packaged products; invests in properties, unlisted equity instruments, funds and financial instruments; and provides management services through food processing centers and noodle factories located in Shanghai, Chengdu, Wuhan, Dongguan and Tianjin. The company conducts its restaurant operations, noodle production and investment activities primarily in Mainland China, Hong Kong and select international markets including Europe, with approximately 569 restaurants across 31 provinces and municipalities in Mainland China, 22 outlets in Hong Kong, and two in Rome and Finland as of mid-2023. Its restaurant portfolio also encompasses licensed Japanese brands such as Domon, Kanzan Menya, Kamiyama Kamiya, Ramen House Konjiki Hototogisu, Ramen House Hototogisu, alongside wholly-owned Sandaime and Sancha; core menu offerings include tonkotsu pork bone broth ramen, cutlet prawn, pork combo ramen, Ichiban ramen, Japanese dumplings, sweetcorn salad, beef enoki roll and grilled eel fried rice. In July 2025, subsidiaries Hong Kong Ajisen Food and Festive Profits entered supplemental franchise agreements with Shigemitsu Industry, the group's franchisor, temporarily reducing monthly franchise fees from HK$7,000 to HK$5,000 per store in Hong Kong and from RMB3,500 to RMB2,500 per store in Mainland China for 2025-2026 to enhance cost flexibility amid market competition; earlier changes include board appointments such as Ho Pak Chuen Brian as independent non-executive director in April 2024 and Yew Yat On as non-executive director in June 2023, alongside company secretary transitions in July 2023 and ongoing store optimization reducing outlets from 669 to 569 by mid-2023. The group listed on the Hong Kong Stock Exchange Main Board in March 2007 under stock code 0538.HK, supports its network through four central kitchen bases covering eastern, northern, southern and central China with capacity for up to 1,800 restaurants, and maintains a franchise relationship with Shigemitsu Industry for the "Ajisen Ramen" trademark originally established in Japan in 1972.