Valuation Update With 7 Day Price Move • Jun 22
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to HK$1.23, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Hospitality industry in Hong Kong. Total loss to shareholders of 90% over the past three years. Upcoming Dividend • Jun 02
Upcoming dividend of HK$0.02 per share Eligible shareholders must have bought the stock before 09 June 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Hong Kong dividend payers (6.9%). Lower than average of industry peers (4.6%). Declared Dividend • Mar 30
Dividend of HK$0.02 announced Shareholders will receive a dividend of HK$0.02. Ex-date: 9th June 2026 Payment date: 26th June 2026 Dividend yield will be 1.2%, which is lower than the industry average of 2.1%. Reported Earnings • Mar 28
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.04 (up from CN¥0.039 in FY 2024). Revenue: CN¥5.29b (down 13% from FY 2024). Net income: CN¥58.2m (up 4.3% from FY 2024). Profit margin: 1.1% (up from 0.9% in FY 2024). Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) also missed analyst estimates by 56%. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has fallen by 55% per year, which means it is performing significantly worse than earnings. Announcement • Mar 17
Jiumaojiu International Holdings Limited to Report Fiscal Year 2025 Results on Mar 27, 2026 Jiumaojiu International Holdings Limited announced that they will report fiscal year 2025 results on Mar 27, 2026 Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$2.16, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Hospitality industry in Hong Kong. Total loss to shareholders of 90% over the past three years. Reported Earnings • Oct 01
First half 2025 earnings: EPS and revenues exceed analyst expectations First half 2025 results: EPS: CN¥0.043 (down from CN¥0.05 in 1H 2024). Revenue: CN¥2.75b (down 10% from 1H 2024). Net income: CN¥60.7m (down 16% from 1H 2024). Profit margin: 2.2% (down from 2.4% in 1H 2024). Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) also surpassed analyst estimates by 3.7%. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 50% per year, which means it is performing significantly worse than earnings. Major Estimate Revision • Aug 29
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥6.22b to CN¥5.72b. EPS estimate also fell from CN¥0.124 per share to CN¥0.105 per share. Net income forecast to grow 337% next year vs 26% growth forecast for Hospitality industry in Hong Kong. Consensus price target down from HK$3.26 to HK$3.14. Share price fell 13% to HK$2.41 over the past week. Reported Earnings • Aug 25
First half 2025 earnings released: EPS: CN¥0.043 (vs CN¥0.05 in 1H 2024) First half 2025 results: EPS: CN¥0.043 (down from CN¥0.05 in 1H 2024). Revenue: CN¥2.75b (down 10% from 1H 2024). Net income: CN¥60.7m (down 16% from 1H 2024). Profit margin: 2.2% (down from 2.4% in 1H 2024). Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 45% per year, which means it is performing significantly worse than earnings. Announcement • Aug 12
Jiumaojiu International Holdings Limited to Report First Half, 2025 Results on Aug 22, 2025 Jiumaojiu International Holdings Limited announced that they will report first half, 2025 results on Aug 22, 2025 Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$2.81, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 15x in the Hospitality industry in Hong Kong. Total loss to shareholders of 86% over the past three years. Upcoming Dividend • Jun 04
Upcoming dividend of HK$0.04 per share Eligible shareholders must have bought the stock before 11 June 2025. Payment date: 04 July 2025. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Hong Kong dividend payers (7.7%). Lower than average of industry peers (3.4%). Reported Earnings • May 03
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: CN¥0.039 (down from CN¥0.31 in FY 2023). Revenue: CN¥6.07b (up 1.5% from FY 2023). Net income: CN¥55.8m (down 88% from FY 2023). Profit margin: 0.9% (down from 7.6% in FY 2023). Same store sales growth: Down 18.8% vs FY 2023 Total stores: 807 (up by 81 from FY 2023). Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 24%. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 45% per year, which means it is significantly lagging earnings. Major Estimate Revision • Apr 04
Consensus EPS estimates fall by 33% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥6.86b to CN¥6.35b. EPS estimate also fell from CN¥0.195 per share to CN¥0.131 per share. Net income forecast to grow 236% next year vs 31% growth forecast for Hospitality industry in Hong Kong. Consensus price target up from HK$3.01 to HK$3.13. Share price rose 2.8% to HK$2.96 over the past week. Declared Dividend • Mar 31
Dividend of HK$0.04 announced Shareholders will receive a dividend of HK$0.04. Ex-date: 11th June 2025 Payment date: 4th July 2025 Dividend yield will be 1.4%, which is lower than the industry average of 2.1%. Reported Earnings • Mar 30
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: CN¥0.039 (down from CN¥0.31 in FY 2023). Revenue: CN¥6.07b (up 1.5% from FY 2023). Net income: CN¥55.8m (down 88% from FY 2023). Profit margin: 0.9% (down from 7.6% in FY 2023). Same store sales growth: Down 18.8% vs FY 2023 Total stores: 807 (up by 81 from FY 2023). Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 24%. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 45% per year, which means it is significantly lagging earnings. Announcement • Mar 30
Jiumaojiu International Holdings Limited announces Annual dividend, payable on July 04, 2025 Jiumaojiu International Holdings Limited announced Annual dividend of HKD 0.0200 per share payable on July 04, 2025, ex-date on June 11, 2025 and record date on June 12, 2025. Announcement • Mar 29
Jiumaojiu International Holdings Limited, Annual General Meeting, Jun 06, 2025 Jiumaojiu International Holdings Limited, Annual General Meeting, Jun 06, 2025. Announcement • Mar 24
Jiumaojiu International Holdings Limited(SEHK:9922) dropped from FTSE All-World Index (USD) Jiumaojiu International Holdings Limited(SEHK:9922) dropped from FTSE All-World Index (USD) Announcement • Mar 18
Jiumaojiu International Holdings Limited to Report Fiscal Year 2024 Results on Mar 28, 2025 Jiumaojiu International Holdings Limited announced that they will report fiscal year 2024 results on Mar 28, 2025 Major Estimate Revision • Mar 13
Consensus EPS estimates fall by 85% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥6.18b to CN¥5.96b. EPS estimate also fell from CN¥0.134 per share to CN¥0.02 per share. Net income forecast to shrink 44% next year vs 37% growth forecast for Hospitality industry in Hong Kong . Consensus price target broadly unchanged at HK$3.02. Share price was steady at HK$3.16 over the past week. Major Estimate Revision • Jan 29
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥6.38b to CN¥6.22b. EPS estimate also fell from CN¥0.152 per share to CN¥0.137 per share. Net income forecast to shrink 18% next year vs 37% growth forecast for Hospitality industry in Hong Kong . Consensus price target down from HK$4.29 to HK$3.06. Share price was steady at HK$2.62 over the past week. Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to HK$2.81, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Hospitality industry in Hong Kong. Total loss to shareholders of 82% over the past three years. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to HK$4.10, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 13x in the Hospitality industry in Hong Kong. Total loss to shareholders of 68% over the past three years. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to HK$4.09, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 13x in the Hospitality industry in Hong Kong. Total loss to shareholders of 77% over the past three years. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment deteriorates as stock falls 32% After last week's 32% share price decline to HK$3.76, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 14x in the Hospitality industry in Hong Kong. Total loss to shareholders of 83% over the past three years. Reported Earnings • Sep 28
First half 2024 earnings: Revenues and EPS in line with analyst expectations First half 2024 results: EPS: CN¥0.05 (down from CN¥0.15 in 1H 2023). Revenue: CN¥3.06b (up 6.4% from 1H 2023). Net income: CN¥72.3m (down 68% from 1H 2023). Profit margin: 2.4% (down from 7.7% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 45% per year, which means it is significantly lagging earnings. New Risk • Sep 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (10% average weekly change). Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to HK$2.85, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Hospitality industry in Hong Kong. Total loss to shareholders of 87% over the past three years. Major Estimate Revision • Sep 02
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥6.54b to CN¥6.43b. EPS estimate also fell from CN¥0.177 per share to CN¥0.157 per share. Net income forecast to grow 13% next year vs 65% growth forecast for Hospitality industry in Hong Kong. Consensus price target down from HK$4.93 to HK$3.99. Share price fell 3.2% to HK$2.41 over the past week. Reported Earnings • Aug 26
First half 2024 earnings: Revenues and EPS in line with analyst expectations First half 2024 results: EPS: CN¥0.05 (down from CN¥0.15 in 1H 2023). Revenue: CN¥3.06b (up 6.4% from 1H 2023). Net income: CN¥72.3m (down 68% from 1H 2023). Profit margin: 2.4% (down from 7.7% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 55% per year, which means it is significantly lagging earnings. Announcement • Aug 14
Jiumaojiu International Holdings Limited to Report First Half, 2024 Results on Aug 23, 2024 Jiumaojiu International Holdings Limited announced that they will report first half, 2024 results on Aug 23, 2024 Major Estimate Revision • Jul 24
Consensus EPS estimates fall by 19% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥7.45b to CN¥7.05b. EPS estimate also fell from CN¥0.406 per share to CN¥0.327 per share. Net income forecast to grow 5.6% next year vs 37% growth forecast for Hospitality industry in Hong Kong. Consensus price target down from HK$7.32 to HK$5.48. Share price fell 22% to HK$2.83 over the past week. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$3.06, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 13x in the Hospitality industry in Hong Kong. Total loss to shareholders of 89% over the past three years. New Risk • Jun 12
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 3.4% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Upcoming Dividend • Jun 05
Upcoming dividend of HK$0.15 per share Eligible shareholders must have bought the stock before 12 June 2024. Payment date: 05 July 2024. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Hong Kong dividend payers (7.6%). In line with average of industry peers (3.3%). Reported Earnings • May 02
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.31 (up from CN¥0.034 in FY 2022). Revenue: CN¥5.99b (up 49% from FY 2022). Net income: CN¥453.5m (up CN¥404.2m from FY 2022). Profit margin: 7.6% (up from 1.2% in FY 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) also missed analyst estimates by 5.4%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings. Announcement • May 01
Jiumaojiu International Holdings Limited, Annual General Meeting, Jun 06, 2024 Jiumaojiu International Holdings Limited, Annual General Meeting, Jun 06, 2024. Major Estimate Revision • Mar 29
Consensus EPS estimates fall by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥8.44b to CN¥7.65b. EPS estimate also fell from CN¥0.516 per share to CN¥0.412 per share. Net income forecast to grow 32% next year vs 51% growth forecast for Hospitality industry in Hong Kong. Consensus price target down from HK$12.55 to HK$9.20. Share price fell 3.8% to HK$5.64 over the past week. Reported Earnings • Mar 24
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.31 (up from CN¥0.034 in FY 2022). Revenue: CN¥6.11b (up 53% from FY 2022). Net income: CN¥453.5m (up CN¥404.2m from FY 2022). Profit margin: 7.4% (up from 1.2% in FY 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) also missed analyst estimates by 5.4%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Declared Dividend • Mar 24
Dividend increased to HK$0.15 Dividend of HK$0.15 is 1,400% higher than last year. Ex-date: 12th June 2024 Payment date: 5th July 2024 Dividend yield will be 2.6%, which is higher than the industry average of 2.1%. Payout Ratios Payout ratio: 6%. Cash payout ratio: 4%. Announcement • Mar 23
Jiumaojiu International Holdings Limited Proposes Final Dividend for the Year Ended December 31, 2023, Payable on July 5, 2024 Jiumaojiu International Holdings Limited proposed final dividend for the year ended December 31, 2023 of HKD 0.15 per share. Ex-dividend date is 12 June 2024, Record date is 18 June 2024 and Payment date is 05 July 2024. Date of shareholders' approval is 06 June 2024. Announcement • Mar 13
Jiumaojiu International Holdings Limited to Report Fiscal Year 2023 Results on Mar 22, 2024 Jiumaojiu International Holdings Limited announced that they will report fiscal year 2023 results on Mar 22, 2024 Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to HK$5.99, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Hospitality industry in Hong Kong. Total loss to shareholders of 79% over the past three years. Announcement • Mar 01
Jiumaojiu International Holdings Limited Announces Chief Executive Officer Changes, Effective March 1, 2024 Jiumaojiu International Holdings Limited announced that in order to comply with code provision C.2.1of the Corporate Governance Code as set out in Appendix C1 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited that the roles of chairman and chief executive officer should be separate and should not be performed by the same individual, Mr. He Chengxiao (Mr. He), an executive Director, has been appointed as the new chief executive officer of the company (chief executive officer) with effect from March 1, 2024. Mr. Guan Yihong (Mr. Guan) will remain as the chairman of the Board, an executive Director and the chairman of the nomination committee of the Company (the Nomination Committee) and will continue to lead the Board and formulate overall development strategies and business plans of the Company and oversee the management and strategic development of the company. Mr. He, aged 46, was appointed as an executive Director on July 2, 2020. He joined the Group in 2013 and has served as the general manager of Guangzhou Tai Er Catering Chain Co. Ltd. since November 2017. He is responsible for coordinating the brand management and operational business of various brands of the Group. He has also been appointed as the vice president of the Group with effect from May 1, 2020 and as a director of Jiumaojiu (Guangzhou) Holdings Limited, with effect from July 2, 2020. Mr. He served as the operation director of Guangzhou Jiumaojiu Catering Chain Co. Ltd., from November 2013 to October 2017. Mr. He has extensive experience in both brand and operation management. Before joining the Group, he worked at Guangdong San Yuan McDonald Food Co. Ltd. (San Yuan McDonald's) from July 1999 to November 2013, and served as an operations manager before leaving San Yuan McDonald's. Mr. He graduated from the Guangdong University of Foreign Studies in 1999, specializing in international finance. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to HK$5.77, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Hospitality industry in Hong Kong. Total loss to shareholders of 82% over the past three years. Recent Insider Transactions • Jan 12
Chairman & CEO recently bought HK$14m worth of stock On the 8th of January, Yihong Guan bought around 3m shares on-market at roughly HK$5.38 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Yihong has been a buyer over the last 12 months, purchasing a net total of HK$30m worth in shares. Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$6.95, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Hospitality industry in Hong Kong. Total loss to shareholders of 63% over the past three years. Announcement • Nov 12
Jiumaojiu International Holdings Limited (SEHK:9922) commences an Equity Buyback Plan for 145,451,170 shares, representing 10% of its issued share capital, under the authorization approved on June 2, 2023. Jiumaojiu International Holdings Limited (SEHK:9922) commences share repurchases on November 9, 2023, under the program mandated by the shareholders in the Annual General Meeting held on June 2, 2023. As per the mandate, the company is authorized to repurchase up to 145,451,170 shares, representing 10% of its issued share capital. The purpose of repurchase program is to enhance the net assets and/or its earnings per share. The repurchases will be made out of the funds legally available for such purpose in accordance with the memorandum of association of the Company and the Articles of Association, the Listing Rules, the laws of the Cayman Islands and/or any other applicable laws. The authority shall expire at the earliest of the next Annual General Meeting, the date on which the next Annual General Meeting is required to be held or the date on which the authority is carried out to the full extent, unless varied or revoked in a General Meeting. As of June 2, 2023, the company had 1,454,511,700 shares in issue.
On November 2, 2023, the company announced a share repurchase program. Under the program, the company will repurchase up to HKD 150 million worth of its shares. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$9.09, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 16x in the Hospitality industry in Hong Kong. Total loss to shareholders of 50% over the past three years. Reported Earnings • Aug 23
First half 2023 earnings released: EPS: CN¥0.15 (vs CN¥0.04 in 1H 2022) First half 2023 results: EPS: CN¥0.15 (up from CN¥0.04 in 1H 2022). Revenue: CN¥2.88b (up 52% from 1H 2022). Net income: CN¥222.2m (up 285% from 1H 2022). Profit margin: 7.7% (up from 3.0% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 33% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Aug 11
Jiumaojiu International Holdings Limited to Report First Half, 2023 Results on Aug 22, 2023 Jiumaojiu International Holdings Limited announced that they will report first half, 2023 results on Aug 22, 2023 Announcement • Jul 26
Jiumaojiu International Holdings Limited Provides Consolidated Earnings Guidance for the Six Months Ended June 30, 2023 Jiumaojiu International Holdings Limited provided consolidated earnings guidance for the six months ended June 30, 2023. The group is expected to record (i) revenue of approximately RMB 2,880.0 million for the Period, representing a substantial increase of approximately 51.7% as compared to revenue of RMB 1,899.0 million for the six months ended June 30, 2022; and (ii) a profit attributable to equity shareholders of the Company of no less than RMB 220.0 million for the Period, representing a substantial increase of no less than 281.3% as compared to a profit attributable to equity shareholders of the Company of RMB 57.7 million for the six months ended June 30, 2022. Board Change • Jun 22
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non Executive Director Rui Zhu was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jun 03
Jiumaojiu International Holdings Limited Approves Final Dividend for the Year Ended December 31, 2022 Jiumaojiu International Holdings Limited at its AGM held on June 2, 2023 approved final dividend of HKD 0.01 per ordinary share of the Company for the year ended December 31, 2022. Upcoming Dividend • May 31
Upcoming dividend of HK$0.01 per share at 0.1% yield Eligible shareholders must have bought the stock before 07 June 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 0.1%. Lower than top quartile of Hong Kong dividend payers (7.8%). Lower than average of industry peers (1.1%). Major Estimate Revision • Mar 29
Consensus EPS estimates fall by 28% The consensus outlook for earnings per share (EPS) in fiscal year 2022 has deteriorated. 2022 revenue forecast decreased from CN¥4.22b to CN¥4.03b. EPS estimate also fell from CN¥0.104 per share to CN¥0.074 per share. Net income forecast to grow 1,170% next year vs 190% growth forecast for Hospitality industry in Hong Kong. Consensus price target broadly unchanged at HK$23.20. Share price fell 3.7% to HK$18.18 over the past week. Reported Earnings • Mar 22
Full year 2022 earnings released: EPS: CN¥0.03 (vs CN¥0.23 in FY 2021) Full year 2022 results: EPS: CN¥0.03 (down from CN¥0.23 in FY 2021). Revenue: CN¥4.08b (down 2.5% from FY 2021). Net income: CN¥49.3m (down 86% from FY 2021). Profit margin: 1.2% (down from 8.1% in FY 2021). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 38% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Mar 16
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2022 has deteriorated. 2022 revenue forecast decreased from CN¥4.29b to CN¥4.25b. EPS estimate also fell from CN¥0.107 per share to CN¥0.094 per share. Net income forecast to grow 86% next year vs 111% growth forecast for Hospitality industry in Hong Kong. Consensus price target broadly unchanged at HK$22.73. Share price fell 2.7% to HK$17.44 over the past week. Major Estimate Revision • Feb 22
Consensus EPS estimates fall by 32% The consensus outlook for earnings per share (EPS) in fiscal year 2022 has deteriorated. 2022 revenue forecast decreased from CN¥4.56b to CN¥4.31b. EPS estimate also fell from CN¥0.163 per share to CN¥0.11 per share. Net income forecast to grow 93% next year vs 120% growth forecast for Hospitality industry in Hong Kong. Consensus price target up from HK$22.19 to HK$22.72. Share price fell 5.2% to HK$18.70 over the past week. 
