HK Stock Market Move | Jiumaojiu (09922) fell more than 7% hitting a new low on the stock market. The recovery pace of same-store sales is slow, with major brands still under pressure in the third quarter.

JIUMAOJIU (09922) fell by more than 7% in the afternoon, hitting a low of HK$1.84, setting a new low for the listing. As of the time of reporting, it fell by 7.07% to HK$1.84, with a turnover of HK$22.5014 million. On the news front, the operating data for the third quarter released by JIUMAOJIU showed that same-store sales for its main brands continued to decline. Among them, sales for Tai'er Pickled Fish decreased by 9.3% year-on-year, while the declines for Hot Pot and JIUMAOJIU Northwestern Cuisine were more pronounced, reaching 19.1% and 14.8% respectively. BOCOM INTL pointed out that although same-store sales are still negative, the declines for Tai'er and JIUMAOJIU narrowed compared to the second quarter, with Tai'er showing improvement for three consecutive quarters, reflecting the initial effects of operational adjustments. Guosheng Securities stated that the company is currently adopting a cautious expansion strategy, with pressure still on same-store sales for its main brands, but it has clearly defined a strategy of "fresh ingredients." The performance of Tai'er's "5.0 Fresh Model" new store type is impressive and will accelerate its promotion progress, potentially further improving performance.