"Performance" JIUMAOJIU's mid-term net profit is 60.69 million RMB, down 16%, no dividend declared

JIUMAOJIU (09922.HK) announced its interim results for the six months ending in June, with revenue of RMB 2.753 billion, a year-on-year decrease of 10.1%. It recorded a net profit of RMB 60.69 million, down 16%, with earnings per share of 4 cents. No dividend was declared.

In the first half of the year, the turnover rate and table turnover rate of Tai Er, Song Hotpot, and JIUMAOJIU decreased, mainly due to a severe external environment leading to reduced customer traffic. During this period, the per capita consumption at Song Hotpot dropped from RMB 110 to RMB 99, as the group adjusted its menu and dish prices after considering internal and external factors such as industry conditions and competitive landscape