Summary by Moomoo AI
On July 19, 2024, Jiumaojiu International Holdings Limited issued a voluntary announcement, disclosing unaudited primary operating data for the second quarter of 2024. As of June 30, 2024, the total number of brand restaurants under the group reached 771, of which Tai Er brand had the most with 614 restaurants. The turnover rate and daily sales of the main brands all declined. Tai Er's turnover rate was 3.6 and its daily sales decreased by 18.1% year-on-year. The performance of Songhuo Hot Pot and Jiuloujiu brands also declined, by 36.6% and 12.6% respectively. The announcement pointed out that the main reason for the decline in average customer consumption was due to external environmental changes and the brand's adjustment of development strategy, including adjusting the menu structure and prices...Show More