HK Stock Market Move | JIUMAOJIU(09922) drops by more than 4% again, approaching its historical low. Institutions claim that the continued weak demand and challenges at the operational level are still faced.

JIUMAOJIU (09922) fell by more than 4% again, hitting a low of 1.99 Hong Kong dollars during the trading session, approaching the historical low of 1.98 Hong Kong dollars. As of the time of writing, it has fallen by 3.85% to 2 Hong Kong dollars with a turnover of 14.6445 million Hong Kong dollars. On the news front, the topic of restaurants using pre-made food has sparked discussion recently. Some media reported that Tai Er's pickled fish dishes can be served in "7 minutes with 3 dishes", casting doubts on its "live fish freshly killed" promotion. Tai Er's parent company, JIUMAOJIU Group, responded that Tai Er's core products are "live fish, fresh chicken, and fresh beef", and they have officially launched a new fresh store since March of this year, gradually expanding nationwide starting from the second quarter, with 68 stores currently in operation. CMSC believes in its research report that although there are signs of stabilization in JIUMAOJIU's profit margin and initial effects of shop reform, same-store sales growth for core brands like Tai Er and JIUMAOJIU in the first half of the year is still weak, reflecting continued weak demand and operational challenges. It is worth noting that JIUMAOJIU, which experienced a decline in both revenue and net profit in the first half of the year, was removed from the Hong Kong Stock Connect list on September 8th.