Equity Research 16 October 2025 | 5:45PM HKT Jiumaojiu (9922.HK): 3Q25 operating update: Tai Er/Jiumaojiu SSSG sequentially improved; Tai Er new store format conversion speeds up; Jiumaojiu reported 3Q25 operating results on Oct 15, with Tai Er/Jiumaojiu SSSG decline sequentially narrowed to -9.3%/-14.8%, implying an improvement vs. pre-Covid SSSG of 62%/63% (from 58%/57% in 2Q). Song SSSG came in below expectation which sequentially expanded to 19.1% decline in 3Q25 (vs. -14.3% in 2Q25). On a monthly basis ...

Jiumaojiu International Holdings Limited 九毛九国际控股有限公司 Stock Code 股份代号: 9922 2025年中期业绩发布会 2025 Interim Results Presentation August 2025 Disclaimer This Results Announcement Presentation is for the purpose of your reference only. It is not the intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the Company's financial or trading position or prospects. The information and opinions contained in this document are provided as at the date hereof and ar ...