Core Viewpoint - The recent adjustment of the Hong Kong Stock Connect eligible securities list has led to the removal of 20 stocks, including Jiumaojiu (09922.HK), which may be related to changes in the restaurant industry trends and shifts in investor preferences [1] Financial Performance - Jiumaojiu reported a revenue of 2.753 billion yuan for the first half of the year, a year-on-year decrease of 10.14%, and a net profit attributable to shareholders of 60.69 million yuan, down 16.05% [1] - Revenue from the main brands, including Taier, Song Hotpot, and Jiumaojiu Northwest Cuisine, all experienced declines during the reporting period [1] - Taier's revenue was 1.949 billion yuan, a decrease of 13.3%, with its contribution to total revenue dropping from 73.4% to 70.8% [1] - Song Hotpot's revenue was 416 million yuan, down 3.5%, attributed to a decline in table turnover rate and customer spending [2] - Jiumaojiu Northwest Cuisine's revenue was 226 million yuan, a decrease of 22.6%, due to a reduction in restaurant numbers and table turnover rate [2] - Other business revenues increased by 75.6% to 162 million yuan, mainly due to the growth of "Mountain's Outside Guizhou Sour Soup Hotpot" restaurants and increased sales to third parties [2] Operational Changes - The company opened 10 new restaurants in the first half of the year, a significant decrease from 59 new openings in the same period last year, while closing 88 restaurants due to lease terminations and underperformance [2] - As of June 30, the company operated 695 self-owned restaurants and 34 franchise/cooperative restaurants globally, employing over 20,000 people [4] Cash Flow and Financial Health - The company's cash and cash equivalents decreased to 489 million yuan, a 19.4% decline from the end of last year, primarily due to increased deposits in fixed accounts and loan repayments [3] - The asset-liability ratio improved from 51.4% at the end of last year to 47.3% in the first half of this year [3]
突然被曝：大规模闭店！曾是“排队王”