Core Viewpoint - The company, Jiumaojiu International Holdings Limited, reported a significant decline in revenue and profit due to a downturn in domestic consumption, with same-store sales for its three main brands dropping sharply [3]. Financial Performance - For the six months ending in June, the company's revenue decreased by 10.1% to 2.75 billion yuan, down from 3.06 billion yuan in the same period last year [3]. - The profit for the same period fell by 16% to 60.7 million yuan, compared to 72.3 million yuan in the previous year [3]. Brand Performance - The core brand, Taier, experienced a same-store sales decline of 19% [3]. - Smaller brands, Song Hotpot and Jiumaojiu, recorded same-store sales declines of 20.1% and 19.8%, respectively [3]. Store Operations - The company closed 42 stores in the latest quarter, representing approximately 5% of its total store count, reducing the total number of stores to 729 [3]. Stock Performance - Jiumaojiu's stock price fell by 2.2% to 2.7 HKD on Monday, with a year-to-date decline of about 22% [3].

Core Insights - The company reported a revenue of RMB 2.753 billion for the first half of 2025, a decrease of 10.1% compared to the same period in 2024 [1] - Profit decreased by 13.7% to RMB 58.7 million [1] Group 1: Financial Performance - Revenue for the first half of 2025 was RMB 2.753 billion, down 10.1% year-on-year [1] - Net profit for the same period was RMB 58.7 million, reflecting a 13.7% decline [1] Group 2: Operational Changes - The company opened 10 new restaurants in the first half of 2025, including three Taier restaurants, five Song Hotpot restaurants, and two Shanwaimian cooperative model restaurants [1] - 10 self-operated Taier restaurants were converted to franchise restaurants [1] - A total of 88 restaurants were closed, primarily due to the expiration of lease agreements and underperformance [1] Group 3: Market Strategy - The company continues to follow a multi-brand and multi-concept strategy while exploring new business opportunities to expand market share [2] - In response to a challenging external environment, the company actively adjusted its business strategy and optimized its restaurant network [2] - The focus remains on enhancing the brand portfolio and prioritizing brands with significant growth potential [2] - The company is accelerating the upgrade of new store formats, improving product, space, and service quality to enhance customer experience and ensure sustainable growth [2]

Stock Market Performance - The Hang Seng Index rose 234 points or 0.9% to close at 25,339 points, the China Enterprises Index rose 105 points or 1.2% to close at 9,079 points, and the Hang Seng Tech Index rose 149 points or 2.7% to close at 5,647 points. The total turnover of the market was HK$285.584 billion [1]. - The Shanghai Composite Index rose 54 points or 1.45% to close at 3,825 points, the Shenzhen Component Index rose 246 points or 2.07% to close at 12,166 points, and the ChiNext Index rose 87 points or 3.36% to close at 2,682 points. The total turnover of the Shanghai and Shenzhen stock markets increased to approximately RMB2.55 trillion, setting a record for the A-share market [2]. - The Dow Jones Industrial Average and the Nasdaq Composite both rose 1.9%, the Dow Jones Industrial Average reached a new high, closing 846 points higher at 45,631 points, the Nasdaq Composite rose 396 points to 21,496 points, and the S&P 500 Index closed 96 points or 1.5% higher at 6,466 points, approaching last week's high [2]. Monetary Policy - The People's Bank of China conducted a seven-day reverse repurchase operation of RMB253 billion in the open market on the 21st, with an operating interest rate remaining flat at 1.4%. There were RMB128.7 billion of reverse repurchases due, resulting in a net injection of RMB124.3 billion [2]. - The central parity rate of the RMB against the US dollar was raised by 97 points to 7.1287 [2]. Trade Policy - Canada announced on Friday the cancellation of several countervailing tariffs against the US but maintained a 25% tariff on US automobiles, steel, and aluminum. The policy adjustment will take effect on September 1st [3]. Company Announcements IPO - Aux Group (02580.HK) plans to globally issue 207.16 million shares, with 5% (approximately 10.3582 million shares) for the Hong Kong public offering and 95% (approximately 196.8 million shares) for the international placement. The offering price ranges from HK$16 to HK$17.42 per share, with a maximum fundraising of approximately HK$3.61 billion. The subscription period is from the 25th to noon on the 28th, and it is expected to be listed on September 2nd [4]. Interim Results - Sinopharm Group (01099.HK) reported a turnover of RMB286.043 billion for the six months ended June 30th, a year-on-year decrease of 2.9%. The net profit was RMB3.466 billion, a year-on-year decrease of 6.4%, and the earnings per share were RMB1.11. No dividend was declared [4]. - Zhaojin Mining Industry (01818.HK) reported an income of RMB6.972 billion for the six months ended June 30th, a year-on-year increase of 50.7%. The gross profit was RMB3.05 billion, an increase of 54.3%. The net profit was RMB1.44 billion, a growth of 160.4%, and the earnings per share were RMB0.38. No dividend was declared [4]. - Greentown China (03900.HK) reported an income of RMB53.368 billion for the six months ended June 30th, a year-on-year decrease of 23.3%, due to a 22.7% decrease in the transfer area during the period. The gross profit was RMB7.159 billion, a decrease of 21.4%. The net profit was RMB210 million, a decline of 89.7%, mainly affected by an impairment loss of RMB1.933 billion on related assets. The earnings per share were RMB0.08. No dividend was declared [5]. - Chow Tai Fook Jewellery Group (06168.HK) reported an income of RMB3.15 billion for the six months ended June 30th, a year-on-year increase of 5.2%. The gross profit was RMB827 million, an increase of 8.7%, mainly due to the contribution of the self - operated business model. The net profit was RMB415 million, a growth of 11.9%, and the earnings per share were RMB1.09. An interim dividend of HK$0.45 was declared [5]. - Nine Masts Catering Group (09922.HK) reported an income of RMB2.753 billion for the six months ended June 30th, a year-on-year decrease of 10.1%. The net profit was RMB60.69 million, a decline of 16%, and the earnings per share were RMB0.04. No dividend was declared [5]. - CMOC Group (03993.HK) reported an operating income of RMB94.773 billion for the six months ended June 30th, a year-on-year decrease of 7.8%. The operating cost was RMB74.727 billion, a decrease of 11%. The net profit attributable to shareholders was RMB8.671 billion, a growth of 60.1%, setting a new high for the same period. The earnings per share were RMB0.41. No dividend was declared [5]. - CRRC Corporation Limited (01766.HK) reported an operating income of RMB119.758 billion for the six months ended June 30th, a year-on-year increase of 33%, mainly due to the growth of railway equipment and new industry revenues. The net profit was RMB7.246 billion, a growth of 72.5%, and the earnings per share were RMB0.25. An interim dividend of RMB0.11 was declared [6]. - Dongfang Selection (01797.HK) reported a total revenue of RMB4.392 billion for the fiscal year ended May 31st, a year-on-year decrease of 37.9%. The net profit was RMB5.74 million, a decline of 99.7%, and the earnings per share were RMB0.01. No dividend was declared. The net profit from continuing operations was RMB6.2 million, compared with RMB249 million in 2024. Excluding the financial impact of the sale of Yuhui Tongxing, the net profit from continuing operations was RMB135 million, a growth of 30%. The total operating cost of continuing operations decreased by 38.2% to RMB3 billion, mainly due to the decrease in the inventory cost and logistics cost of self - operated products caused by the decrease in GMV. The gross profit from continuing operations decreased by 17% to RMB1.4 billion, and the gross profit margin increased from 25.9% to 32% [7]. - China National Tobacco Hong Kong (06055.HK) reported an income of RMB10.316 billion for the six months ended June 30th, a year-on-year increase of 18.5%. The gross profit was RMB946 million, a decrease of 1.8%. The net profit was RMB706 million, a growth of 9.8%, and the earnings per share were RMB1.02. An interim dividend of HK$0.19 was declared, compared with HK$0.15 in the same period last year [7].

Core Viewpoint - Jiumaojiu (09922) experienced a nearly 6% decline in stock price, attributed to disappointing financial results and ongoing challenges in same-store sales performance [1] Financial Performance - The company reported a revenue of 2.753 billion RMB for the six months ending June 30, 2025, representing a year-on-year decrease of 10.1% [1] - The profit attributable to equity shareholders was 60.691 million RMB, down 16% compared to the previous year [1] Same-Store Sales - The same-store sales growth rates for the company's main brands were as follows: Taier at -19.0%, Song Hotpot at -20.1%, and Jiumaojiu at -19.8% [1] Store Closures - In the first half of the year, the company closed a net total of 88 stores, primarily due to the expiration of lease agreements and underperformance of certain restaurants [1] Analyst Outlook - Huatai Securities has adjusted its profit forecasts for the company, lowering the net profit estimates for 2025-2027 by 11%, 1%, and 4% to 132 million, 252 million, and 310 million RMB, respectively [1] - Corresponding earnings per share (EPS) estimates are revised to 0.09, 0.18, and 0.22 RMB for the same periods [1]

Core Viewpoint - Jiumaojiu (09922) experienced a nearly 6% decline in stock price, attributed to disappointing financial results and store performance [1] Financial Performance - The company reported revenue of 2.753 billion RMB for the six months ending June 30, 2025, representing a year-on-year decrease of 10.1% [1] - The profit attributable to equity shareholders was 60.691 million RMB, down 16% year-on-year [1] Same-store Sales - Same-store sales growth rates for the main brands were as follows: Taier at -19.0%, Song Hotpot at -20.1%, and Jiumaojiu at -19.8% [1] Store Closures - The company closed a net total of 88 stores in the first half of the year, primarily due to the expiration of lease agreements and underperformance of certain restaurants [1] Analyst Adjustments - Huatai Securities downgraded the company's net profit forecasts for 2025-2027 by 11%, 1%, and 4% to 132 million, 252 million, and 310 million RMB, respectively, with corresponding EPS estimates of 0.09, 0.18, and 0.22 RMB [1]

Group 1 - The stock of Jiumaojiu (09922) experienced a decline of 6.52%, trading at 2.58 HKD per share with a transaction volume of 8.2883 million HKD as of 09:30 on August 25 [1] - Jiumaojiu International Holdings Limited primarily engages in the operation of Chinese restaurant chains, featuring brands such as "Jiumaojiu Northwest Cuisine," "Tai Er Sauerkraut Fish," "Song Hot Pot Factory," and "Lai Meili Sour Soup Grilled Fish," employing over 10,000 staff [1] - The company was listed on the Hong Kong Stock Exchange on January 15, 2020, under the stock code HK.09922 [1] Group 2 - As of the mid-year report in 2025, Jiumaojiu reported total revenue of 2.753 billion RMB and a net profit of 60.691 million RMB [2]

Core Insights - The company reported a revenue of 2.753 billion RMB for the six months ending June 30, 2025, representing a year-on-year decline of 10.1% [1] - The profit attributable to equity shareholders was 60.691 million RMB, down 16% year-on-year, with basic earnings per share of 0.04 RMB [1] Business Strategy - In response to a rapidly changing and challenging external environment, the company actively adjusted its business strategy and optimized its restaurant network during the first half of 2025 [1] - The company continued to refine its restaurant brand portfolio, focusing on brands with significant growth potential [1] - The company accelerated the upgrade of new store formats, enhancing product, space, and service quality to deepen store quality and customer experience, laying a solid foundation for sustainable growth in the future [1] Operational Footprint - As of June 30, 2025, the company operated 695 self-owned restaurants and 34 franchised/cooperative model restaurants across 130 cities in China, as well as locations in Singapore, Canada (two cities), Malaysia (one city), Thailand (one city), the United States (two cities), and Indonesia (one city) [1]

面对瞬息万变及挑战重重的外部环境，集团于2025年上半年积极调整其业务策略，并优化其餐厅网络。 集团继续优化其餐厅品牌组合，并专注于具有较大增长潜力的品牌。同时，集团加快新店型的升级落 地，通过在产品、空间与服务上的全面提升，深化门店品质与顾客体验，为未来的可持续增长奠定坚实 基础。 截至2025年6月30日，集团在中国130个城市、新加坡、加拿大两个城市、马来西亚一个城市、泰国一个 城市、美国两个城市及印度尼西亚一个城市拥有695间自营餐厅及34间加盟╱合作模式餐厅。 智通财经APP讯，九毛九(09922)发布截至2025年6月30日止六个月业绩，收入27.53亿元(人民币，下 同)，同比下降10.1%;公司权益股东应占溢利6069.1万元，同比下降16%;每股基本盈利0.04元。 ...

Group 1 - The company reported a revenue of RMB 2.75 billion for the six months ending June 30, 2025, a decrease of 10.1% compared to the same period in 2024 [1] - The net profit for the period decreased by 13.7% to RMB 58.7 million, with earnings per share at RMB 0.04 [1] - The company continues to follow a multi-brand and multi-concept strategy while exploring new business opportunities to expand market share and maintain its position as a leading Chinese restaurant brand manager and operator [1] Group 2 - In response to a rapidly changing and challenging external environment, the company actively adjusted its business strategy and optimized its restaurant network during the first half of 2025 [1] - The company is focusing on optimizing its restaurant brand portfolio and concentrating on brands with significant growth potential [1] - As of June 30, 2025, the company operates 695 self-operated restaurants and 34 franchise/cooperative model restaurants across 130 cities in China, as well as locations in Singapore, Canada, Malaysia, Thailand, the United States, and Indonesia [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 Jiumaojiu International Holdings Limited 九毛九國際控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：9922） 截至2025年6月30日止六個月的 中期業績公告 九毛九國際控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈本公 司及其附屬公司（統稱「本集團」）截至2025年6月30日止六個月的未經審核綜合業 績，連同截至2024年6月30日止六個月的比較數字。 主要財務亮點 截至6月30日止六個月 | | 2025年 | 2024年 | | --- | --- | --- | | | 人民幣千元 | 人民幣千元 | | | （未經審核） | （未經審核） | | 收入 | 2,753,436 | 3,064,227 | | 店舖層面經營利潤(1) | 310,464 | 392,862 | | 除稅前溢利 | 77,866 | 87,9 ...