Core Viewpoint - The financial performance of Taier Suancaiyu, a brand under Jiumaojiu Group, has significantly declined, with a notable drop in revenue and net profit, leading to a reduction in store count and raising questions about its market appeal [1][5][9]. Financial Performance - In the first half of 2025, Taier Suancaiyu reported revenue of 1.949 billion yuan, a year-on-year decline of 13.3%, which is worse than the overall group performance [1][5]. - The total revenue for Jiumaojiu Group in the same period was 2.753 billion yuan, down 10.1% year-on-year, with net profit falling to 61 million yuan, a decrease of 16.05% [1][5]. - The number of Taier Suancaiyu stores decreased from 612 to 547, marking a net closure of 65 stores within six months [1]. Market Position and Strategy - Taier Suancaiyu was once a leading brand for Jiumaojiu, contributing 79% of the group's revenue by 2021, but its market position has weakened significantly [2][11]. - The brand's table turnover rate has dropped to 2.2 times per day, down from 4.9 times, indicating reduced customer traffic [5]. - The company is undergoing a transformation to focus on fresh ingredients, with plans to convert 150 stores to a new "fresh" model by the end of the year [6][12]. Competitive Landscape - The brand faces intense competition from the rising popularity of pre-packaged dishes and lower-priced alternatives, which have captured significant market share [10][12]. - The shift in consumer preferences towards more affordable options has pressured Taier Suancaiyu to lower prices and expand delivery services, but these efforts have not yielded the desired results [9][10]. Future Outlook - Despite the challenges, Taier Suancaiyu remains a crucial part of Jiumaojiu's strategy, as the group seeks to revitalize its brand and explore new growth avenues [11][12]. - The overall dining industry is experiencing shifts, with the grilled fish market expected to grow, indicating potential opportunities for Taier Suancaiyu if it can successfully pivot its offerings [12].
市值蒸发480亿，初代餐饮「排队王」不香了
3 6 Ke·2025-10-05 01:17