Jiumaojiu sees operational upturn in Q3 2025, Tai Er leads growth

Jiumaojiu International Holdings Limited's Q3 2025 operational update shows a narrowing of year-on-year declines in same-store average daily sales for Tai Er and Jiu Mao Jiu. Tai Er, in particular, demonstrated positive year-on-year growth in same-store average daily sales in cities like Beijing and Shanghai, which the company attributes to the success of its "5.0 Fresh Model" restaurants. As of the announcement date, 106 Tai Er "5.0 Fresh Model" restaurants were operating in Chinese Mainland, with plans to exceed 200 by year-end 2025.

The total number of restaurants across Jiumaojiu's brands reached 686 as of September 30, 2025. Tai Er accounted for 530 restaurants (509 self-operated, 21 franchised), while Jiu Mao Jiu had 64 (63 self-operated, 1 franchised). Song Hot Pot operated 71 restaurants, and Fresh Wood had 1. The average spending per customer for Tai Er (self-operated only) was RMB74, for Song Hot Pot RMB100, and for Jiu Mao Jiu (self-operated only) RMB58.

Despite positive momentum in some areas, same-store average daily sales for Q3 2025 saw year-on-year declines of -9.3% for Tai Er (self-operated only), -19.1% for Song Hot Pot, and -14.8% for Jiu Mao Jiu (self-operated only). The company attributes these shifts to a strategic focus on product competitiveness and customer experience over short-term promotions.