Core Viewpoint - The Shenzhen Stock Exchange announced adjustments to the Hong Kong Stock Connect eligible securities list, removing a total of 20 stocks, including Jiumaojiu (09922.HK) [1][2] Group 1: Company Performance - Jiumaojiu reported a decline in both revenue and net profit for the first half of the year, with revenue of 2.753 billion yuan, down 10.14% year-on-year, and a net profit of 60.69 million yuan, down 16.05% [2][5] - The company's main revenue sources, including Taier Suancaiyu, Song Hotpot, and Jiumaojiu Northwest Cuisine, all experienced revenue declines during the reporting period [3] - Taier Suancaiyu's revenue was 1.949 billion yuan, a decrease of 13.3% year-on-year, with its contribution to total revenue dropping from 73.4% to 70.8% [3] Group 2: Operational Adjustments - Taier Suancaiyu has launched a "5.0 Fresh Model" to address declining sales, focusing on fresh ingredients and restaurant renovations [3][4] - The number of Taier restaurants decreased from 612 to 547, impacting same-store sales [3] - The company opened 10 new restaurants in the first half of the year, a significant slowdown compared to 59 new openings in the same period last year [4] Group 3: Market Sentiment and Future Outlook - The company closed 88 restaurants in the first half of the year due to lease expirations and underperformance [5] - Analysts have revised Jiumaojiu's net profit forecasts for 2025-2027 down to 100 million yuan, 110 million yuan, and 130 million yuan, respectively, and lowered the target price from 3.7 HKD to 3 HKD [5] - As of September 12, Jiumaojiu's stock closed at 2.31 HKD, down 0.43%, with a total market capitalization of 3.2 billion HKD [6]
知名品牌一年关店65家！曾是“排队王”，高峰期要排两三个小时，很多人吃过