Core Viewpoint - The company, Jiumaojiu (09922.HK), reported stable operational performance for its main brands in the fourth quarter of 2025, with positive trends in same-store sales and customer spending [1] Group 1: Operational Performance - The same-store average daily sales for the brand "Tai Er" in mainland China have turned positive year-on-year, indicating the effectiveness of previous operational adjustments and store model upgrades [1] - The "Fresh" model stores have shown particularly strong performance, providing robust support for the overall recovery of Tai Er's operations [1] Group 2: Store Expansion and Model Implementation - As of December 31, 2025, Tai Er has opened a total of 243 "Fresh" model stores across 60 key cities in China, including 6 newly upgraded "New Tai Er Fresh Ingredients Sichuan Cuisine" stores, which have optimized product structure and menu diversity [1] - The positive market feedback since the launch of the "Fresh" model further validates its replicability across different cities and consumer scenarios [1] Group 3: Customer Spending Trends - The average customer spending for the company's main brands has remained relatively stable over multiple quarters [1] - With the increasing proportion of "Fresh" model stores, there has been a slight rebound in average customer spending, reflecting the ongoing strategic effectiveness in enhancing product strength and customer experience [1]
九毛九(09922.HK)：于2025年第四季度集团主要品牌经营表现稳中向好