JIUMAOJIU (09922) fell nearly 5% during the session, as of the time of writing, it has dropped 4.27%, reported at 3.14 Hong Kong dollars, with a transaction volume of 53.9919 million Hong Kong dollars.
According to the Zhitong Finance App, JIUMAOJIU (09922) dropped nearly 5% during trading, and as of the time of publication, it fell by 4.27% to HKD 3.14, with a trading volume of HKD 53.9919 million.
On the news front, the Peking Municipal Market Supervision Administration released the Food Safety sampling inspection announcement (2024 Issue 73) indicating that a store under JIUMAOJIU, Tai Er Pickled Fish, was fined recently due to the detection of anionic synthetic detergent (measured as sodium dodecylbenzenesulfonate) on chopsticks. In the third quarter of this year, the same-store average daily sales of JIUMAOJIU's three dining brands decreased year-on-year, with Tai Er's same-store average daily sales dropping by 18.3%.
Goldman Sachs previously stated that the weak trend of JIUMAOJIU continued into November after the National Day holiday, indicating that the recovery level from October to November was below that of the third quarter relative to pre-pandemic levels. So far, the fourth quarter same-store sales growth (SSSG) performance has lagged behind the bank's expectations, particularly regarding the Tai Er brand (considering the lower base, the bank expects the fourth quarter SSSG to be -13%, compared to -18% in the third quarter).