Jiumaojiu International reports 10% revenue drop, profit falls

Jiumaojiu International Holdings reported revenue fell 10.1% to RMB2,753.4 million for the six months ended June 30, down from RMB3,064.2 million. Profit dropped 13.7% to RMB58.7 million.

The restaurant count decreased from 771 to 729. Tai Er, the largest segment, saw revenue drop 13.3% to RMB1,948.6 million. Same store sales declined across all major brands, with Tai Er down 19.0%, Song Hot Pot falling 20.1%, and Jiu Mao Jiu dropping 19.8%.