JIUMAOJIU (09922) announced its operational data for the fourth quarter of 2025. During the period, the table turnover rates for its Tai Er (company-operated only), Song Hot Pot, and JIUMAOJIU (company-operated only) brands were 3.0, 2.3, and 2.1, respectively. Meanwhile, the average daily same-store sales for these brands saw year-on-year decreases of 3.0%, 19.0%, and 16.4%.
The Group's core brands demonstrated a steady and improving operational performance in the fourth quarter of 2025. Notably, Tai Er's average daily same-store sales in mainland China turned positive year-on-year, indicating that the effects of earlier operational adjustments and store model upgrades are becoming increasingly evident.
The performance of stores operating under the "Fresh & Live" model was particularly outstanding during the period, providing strong support for Tai Er's overall operational recovery. As of December 31, 2025, Tai Er had successfully launched a cumulative total of 243 "Fresh & Live" model stores, covering 60 key cities across the country.
This total includes 6 newly upgraded "New Tai Er • Fresh Ingredient Sichuan Cuisine" stores, which have further optimized their product structure and menu diversity, continuously strengthening the brand's "Fresh Ingredients" positioning. Since its introduction, the "Fresh & Live" model has received positive market feedback, further validating its replicability across different cities and consumer scenarios.
Furthermore, new model stores for Song Hot Pot and the JIUMAOJIU brand were also progressively launched in the fourth quarter of 2025, garnering an encouraging market response. The company believes that as these new model stores are continuously refined, their operational models are proven successful, and subsequent expansion occurs, the same-store performance of the related brands is expected to gradually improve.
Simultaneously, the average customer spending per capita for the Group's main brands has remained relatively stable for several consecutive quarters. With the increasing proportion of Tai Er's "Fresh & Live" model stores, average customer spending has also shown a slight uptick, demonstrating the ongoing effectiveness of the Group's strategy focused on enhancing product strength and optimizing customer experience.
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