Summary by Futu AI
Jiumaojiu International Holdings Limited ("the Company") announced its unaudited interim financial report for the six months ended June 30, 2024. The report shows that the company's revenue increased by 6.4% from RMB 2,879.4 million in the same period last year to RMB 3,064.2 million. However, the interim profit decreased by 71.5% from RMB 238.4 million to RMB 68.0 million. The company's restaurant operations are affected by seasonal factors, especially during the Chinese New Year holiday, summer peak season, and National Day holiday when customer traffic is usually higher. The company did not declare an interim dividend during the reporting period (nil for the six months ended June 30, 2023). During the reporting period, the company repurchased and canceled 21,459,000 shares at a total price of HK$93,183,000 (equivalent to RMB 84,917,000). As of June 30, 2024, the company's total assets were RMB 448,534,000, primarily used for property acquisitions, plant and equipment, and intangible assets. During the reporting period, the company conducted several significant transactions with related parties, including providing loans to joint ventures and acquiring non-controlling interests.
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