JIUMAOJIU (09922) dropped nearly 6%, falling 5.8% to HK$2.6 per share at the time of writing, with trading volume reaching HK$81.54 million.

On the news front, JIUMAOJIU released its interim results for the six months ended June 30, 2025, reporting revenue of RMB 2.753 billion, down 10.1% year-over-year. Net profit attributable to equity shareholders stood at RMB 60.691 million, declining 16% compared to the same period last year.

Looking at same-store sales performance, the three major brands - Tai Er, Song Hotpot, and Jiumaojiu - recorded same-store sales growth rates of -19.0%, -20.1%, and -19.8% respectively.

Notably, the company achieved a net closure of 88 stores during the first half of the year, primarily due to the termination of related lease agreements upon expiry and underperformance of certain restaurants.

Huatai Securities noted that considering the continued pressure on same-store sales in the first half and the company's ongoing net store closure status, the firm has revised down its 2025-2027 net profit attributable to shareholders forecasts by 11%/1%/4% to RMB 132/252/310 million, corresponding to EPS of RMB 0.09/0.18/0.22 respectively.