Summary by Futu AI
Jiumaojiu International Holdings Limited announced its interim results for the six months ended June 30, 2024, with a 6.4% increase in revenue compared to the same period last year, reaching RMB 3,064.2 million. However, the net profit for the period decreased by 71.5% compared to the same period last year, to RMB 68.0 million. The company actively adjusted its business strategy in the first half of 2024 and further expanded its restaurant network, opening 59 new restaurants. The Group continues to follow a multi-brand and multi-concept strategy and explore new business opportunities. In the first half of 2024, the Group had 766 self-operated restaurants and five franchise/cooperative model restaurants in 145 cities in China and multiple cities overseas. The Group repurchased and cancelled shares during the reporting period, with no proposed interim dividend.