(Yicai Global) Aug. 3 -- Shares of Nayuki Holdings, which has been listed for just over a month, slid more than 10 percent following a media report of serious sanitation problems at two of the Chinese fruit tea chain’s outlets.

Nayuki [HKG:2150] closed down 10.8 percent at HKD9.72 (USD1.25), its lowest point today, shaving about HKD2.03 billion (USD261 million) from its market value to HKD16.74 billion (USD2.15 billion).

The two stores in Beijing had a great number of sanitation issues, including cockroaches in the kitchen, the use of rotten fruits by some staffers and their casual change of production date labels on products, according to a Xinhua News Agency report yesterday.

In response to the report, Shenzhen-based Nayuki issued a statement via its official Weibo account early this morning, saying the two outlets would cease operation today. The stores will also invite officials for on-site inspections to develop solutions and make any necessary changes.

Founded in 2015, Nayuki went public in Hong Kong in June, becoming the first listed operator of a Chinese new-style tea drink chain. But its shares have fallen over 50 percent from the HKD19.80 issue price.

Editor: Peter Thomas