Core Viewpoint - Jiumaojiu (09922) announced the gradual opening of franchise and cooperation businesses for its brands "Tai Er Sauerkraut Fish" and "Shanwai Mian Sauerkraut Hotpot" starting February 3, 2024, aiming for expansion in various regions including Xinjiang, Tibet, Taiwan, and overseas markets like Australia and New Zealand [1] Group 1: Company Overview - Jiumaojiu is a Chinese restaurant group focused on chain operations, managing five different brands including "Jiumaojiu Northwest Cuisine," "Tai Er Sauerkraut Fish," "Song Chongqing Hotpot," "Shanwai Mian Sauerkraut Hotpot," and "Lai Meili Sauerkraut Grilled Fish" [1] - As of January 2024, Jiumaojiu operates over 730 restaurants across its brands [1] Group 2: Historical Context - In 2020, during a downturn in the restaurant industry, Jiumaojiu closed underperforming locations, reducing its restaurant count from 143 in 2019 to 98 in 2020, and focused resources on the core brand Tai Er Sauerkraut Fish [1] - The company's revenue in 2021 was approximately 4.18 billion yuan, a year-on-year increase of 54%, with net profit reaching about 340 million yuan, up 169.7% [1] Group 3: Recent Performance - The restaurant industry in China saw a strong recovery in 2023, with total dining revenue reaching 528.9 billion yuan, a year-on-year increase of 20.4% [1] - For the first half of 2023, Jiumaojiu reported revenue of 2.879 billion yuan, a 51.6% increase year-on-year, and a profit of 238 million yuan, up 281.4% [1] - As of June 30, 2023, revenue contributions from brands were 76.0% from Tai Er, 12.3% from Song Hotpot, and 11.0% from Jiumaojiu restaurants [1] Group 4: Market Challenges - Despite strong financial performance, Jiumaojiu's stock price has significantly declined, reaching a historical low of 4.55 HKD, down over 90% from its peak of 38.59 HKD [2] - The competitive landscape in the restaurant industry remains intense, with companies needing to focus on expansion rather than price increases to drive growth [1][2] - Challenges include slower-than-expected same-store sales recovery and increased costs related to employee salaries, advertising, and new store openings [4]
九毛九(09922)官宣开放品牌加盟 加速扩张却难挡股价冲向历史低点