(Yicai Global) Aug. 22 -- China Quanjude Group saw profit growth slow to 1.29 percent over the first half of this year as its second-largest shareholder, American investment firm IDG Capital, began selling off its entire stake in the duck restaurant chain.

The Beijing-based firm pocketed CNY77.8 million (USD11.4 million) over the period, according to its half-year earnings report published on Aug. 20. Revenue climbed 1.43 percent to CNY876 million (USD128 million).

Despite high gross margins of more than 61 percent, a continuing high cost of sales diminished net margins to just 9.6 percent over the first six months, with sales expenses tallying CNY330 million.