Food's off the menu as caterer shifts focus

Some investors likened it to hearing that a cook has become a tech wizard.

Leading high-end restaurant chain Beijing XE Flavor Group Co has announced a radical change of direction, switching from catering to Internet services and cloud technology.

The name of the publicly listed company, according to its statement, has been changed to China Science Cloud Technology Group Ltd, as a result of collaboration between the restaurant chain and the Institute of Computing Technology at the Chinese Academy of Sciences.