JIUMAOJIU(09922): The operating performance of major brands in the first quarter continued to improve.

JIUMAOJIU (09922) announced that in the first quarter of 2026, the operating performance of the Group's main brands continued to improve. Among them, the same-store daily sales of Taier in mainland China increased further year-on-year, continuing the trend of gradual recovery since the second quarter of 2025. During the period, both the same-store daily sales of "fresh" mode stores and old-mode stores turned positive year-on-year, driving Taier's overall low double-digit growth in mainland China, with the performance of "fresh" mode stores particularly outstanding, further validating the effectiveness of the store model upgrade. As of March 31, 2026, Taier has opened a total of 273 "fresh" mode stores in mainland China, covering 81 core cities nationwide. These stores continue to optimize their product structure and customer experience, further enhancing the brand positioning of "fresh ingredients". Based on the current good model verification and store performance, the Group plans to complete a comprehensive transformation of mainland China stores in 2026. Since the end of 2024, the optimization of Taier's store layout has been basically completed in the first quarter of 2026. The Group expects Taier to gradually return to a more stable development pace. In overseas markets, the same-store daily sales of Taier have been under pressure, mainly due to a slight decrease in customer average consumption due to adjustments in menu structure, as well as the impact of changes in external market environments in some overseas regions. In addition, new models of other brands are also actively being explored and implemented. Among them, the new model store "JIUMAOJIU Shanxi Restaurant" has received positive market feedback. The company believes that with the continued polishing and subsequent promotion of new model stores of each brand, the same-store operating performance of related brands is expected to gradually improve. At the same time, the average customer consumption of the Group's major brands in mainland China has been stable or slightly increased for several consecutive quarters.