董事会谨此知会股东及潜在投资者，现阶段集团经营状况整体保持稳健，各项业务营运优化措施正按计划稳步推进。尽管短期内宏观经济环境仍面临一定不确定性，集团将持续受益于中央政府对消费复苏的有力支持与相关政策的积极影响。凭藉集团在品牌影响力、运营管理效率方面的竞争优势，以及全体员工的共同努力与奋斗，董事会坚信集团能够有效应对挑战，把握市场机遇，实现长远可持续发展，董事会对集团未来的发展前景充满信心。On March 10, Gelonghui announced that JIUMAOJIU (09922.HK) expects to record revenue of approximately RMB 6,073 million in the 2024 fiscal year, compared to RMB 5,985.9 million for the year ending December 31, 2023; and expects to record net profit attributable to ordinary shareholders of no less than RMB 50 million in the 2024 fiscal year, compared to RMB 453.5 million in the 2023 fiscal year.
The Board of Directors believes that the expected decline in net profit attributable to ordinary shareholders is mainly due to: (i) the intensified competition in the Dining market due to changes in the external environment for the 2024 fiscal year, resulting in a decline in same-store performance for the group's Restaurants; (ii) one-time closure losses and impairment losses (non-cash items) amounting to not more than RMB 135 million due to the closure of certain Restaurants and poor performance; and (iii) a decrease in other income such as government subsidies and VAT rebates obtained by the group in the 2024 fiscal year, as well as an increase in net exchange loss due to exchange rate fluctuations.
The group has been closely monitoring the market conditions and has been adjusting its Business strategy and Operation from time to time to minimize negative impacts. The group has taken/will take the following measures to improve its operating performance: (i) continuously monitor poorly performing Restaurants and assess new store opening plans more cautiously; (ii) implement store operation improvement strategies, continuously optimize product quality and structure, enhance service quality, and iterate store models; and (iii) further improve the operational efficiency of the supply chain system, enhancing quality and reducing costs through IT empowerment.
The Board of Directors hereby informs the Shareholders and potential investors that the overall operating condition of the group remains stable at this stage, and various Business operation optimization measures are steadily advancing as planned. Despite facing a certain degree of uncertainty in the macroeconomic environment in the short term, the group will continue to benefit from the strong support from the central government for consumer recovery and the positive impact of related policies. With the group's competitive advantages in brand influence and operational management efficiency, along with the collective efforts and struggle of all employees, the Board of Directors is confident that the group can effectively respond to challenges, seize market opportunities, and achieve long-term sustainable development, and the Board is full of confidence in the group's future development prospects.
Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.
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