Summary by Futu AI
KUMAO JIU INTERNATIONAL HOLDINGS LIMITED (“KYOKOYU”) ISSUED A POSITIVE EARNINGS FORECAST ON 22 FEBRUARY 2024, EXPECTING SIGNIFICANT GROWTH IN REVENUE AND PROFIT FOR FISCAL 2023. According to the Board's preliminary assessment and unaudited consolidated management accounts, revenue for FY 2023 is approximately RMB5,985.9 million, an increase of approximately 49.4% over fiscal 2022; and profit is expected to be at least RMB450.0 million, an increase of more than 812.8% over the previous fiscal year. The growth was driven primarily by the expansion of the restaurant network, increased same-store sales, and improved operational efficiencies. The Board noted that the total number of restaurants increased from 556 at the end of 2022 to 726 at the end of 2023, and business has resumed from the COVID-19 pandemic. However, these data have not yet been audited by auditors and the final financial results will be announced in March 2024. The Company reminds shareholders and investors to exercise caution when buying and selling shares.