Chinese bubble tea giant Nayuki expects to record a net loss of between RMB 135 million ($21 million) and RMB 165 million in 2021, according a filing the company released on Tuesday. The Hong Kong-listed company forecasted that its overall revenue would grow around 40% year-on-year to between RMB 4.28 billion and RMB 4.32 billion for the same period. The company’s share value has more than halved to around HK$7 per share since its $656 million IPO in June last year. A food safety scandal hit the company in August after state news agency Xinhua reported cases of cockroaches and rotten fruits in some stores, claims which the company said regulators found no evidence to substantiate. [Nayuki press release]