Jiumaojiu International Holdings Ltd. (HK:9922) has released an update.
Jiumaojiu International Holdings Ltd. anticipates a significant drop in profits for the first half of 2024, with expected earnings decreasing by no more than 69.8% compared to the same period in 2023, despite a revenue increase of 6.4%. The company attributes this downturn to a high comparative base from the previous year, changes in consumer habits impacting revenue per restaurant, and anticipated impairment losses. In response, Jiumaojiu is adapting its business strategy, including new business models, menu optimization, staff incentives, and enhanced cost controls.
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