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Jiumaojiu International Holding Ltd (9922) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$1.7B

JI Jiumaojiu International Holding Ltd 9922 · HK
PriceHK$1.21
Fair ValueHK$1.40
Upside+16.2%
Quality61/100
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Healthy Growth
Thin margins · 1.1% net margin
Low debt · generates free cash flow
1.49% dividend yield
Mixed vs. peers (8/15)
Narrow moat 20/100
Evidence: High Range HK$0.8400 – HK$1.40 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 3 days ago

Fair value updated Aug 13, 2026, revised from HK$1.39 to HK$1.40 (+0.7%) since Aug 6, 2026. Share price −2.8% over the past month.

A solid business, screening 16% undervalued on our models.

What matters now

  • Our model range runs from HK$0.8400 (bear) to HK$1.40 (bull), base HK$1.40. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 61/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

HK$32.30 HK$1.15 Fair Value HK$1.40 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range HK$1.15 – HK$32.30 · fair‑value band HK$0.8400 – HK$1.40 · the HK$1.21 price screens below the HK$1.40 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Jiumaojiu International Holding Ltd (9922) currently trades at HK$1.21, while our model-based Fair Value estimate is HK$1.40, implying the stock looks roughly 16.2% undervalued today. The Quality Score stands at 61/100 (solid quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Jiumaojiu International Holding Ltd generated revenue of HK$5.2B at a net margin of 1.1%. Revenue declined 17.5% year over year. It earns a return on equity of 1.6%. Net debt stands at HK$670M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.8400 (bear case) to HK$1.40 (bull case); at HK$1.21, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 63% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -51% fair-value upside, at 16%, 9922 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF HK$5.22 HK$7.52 HK$10.69 80
Residual Income HK$1.60 HK$1.51 HK$1.09 76
Rev-Margin DCF HK$4.51 HK$6.70 HK$9.43 74
All 26 models by family
DCF Models
FCF DCF HK$5.25 HK$7.79 HK$11.46 38
Owner Earnings HK$4.37 HK$6.38 HK$9.31 31
5Y Revenue Exit HK$4.51 HK$6.71 HK$9.57 39
5Y EBITDA Exit HK$10.45 HK$18.49 HK$28.41 41
5Y P/E Exit HK$2.94 HK$3.60 HK$4.26 38
10Y Revenue Exit HK$4.66 HK$6.69 HK$9.56 36
10Y EBITDA Exit HK$8.30 HK$14.41 HK$23.44 37
10Y P/E Exit HK$3.82 HK$4.65 HK$5.65 35
Earnings-Based
Graham-Dodd HK$0.3000 HK$1.20 HK$1.63 54
Lynch FV HK$0.3000 HK$0.4300 HK$0.5600 50
PEG = 1.0 HK$0.3000 HK$0.4300 HK$0.5600 46
EPV HK$8.19 HK$9.19 HK$10.02 59
Dividend Discount
Gordon GGM HK$0.2900 HK$0.5300 HK$0.7300 70
DDM Multi-Stage HK$0.2900 HK$0.4800 HK$0.5600 61
Multiples
P/E Multiple HK$0.7200 HK$0.9600 HK$1.20 63
P/S Multiple HK$0.5600 HK$0.7400 HK$0.9300 58
P/B Multiple HK$0.5600 HK$0.7400 HK$0.9300 55
EV/EBIT HK$14.60 HK$19.17 HK$23.75 53
EV/EBITDA HK$15.09 HK$19.83 HK$24.57 54
EV/Revenue HK$4.16 HK$5.58 HK$6.99 43
Asset-Based
NCAV (Graham) HK$1.21 HK$1.62 HK$2.42 50
Growth DCF
Growth DCF HK$5.22 HK$7.52 HK$10.69 80
Rev-Margin DCF HK$4.51 HK$6.70 HK$9.43 74
Economic Profit
Residual Income HK$1.60 HK$1.51 HK$1.09 76
ROIC Compounder HK$8.63 HK$10.19 HK$11.82 72
Growth Earnings
Growth-Adj P/E HK$0.5400 HK$0.7700 HK$1.00 68

Widest divergence: Growth DCF (HK$6.70) versus Earnings-Based (HK$0.4300). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$5.2B
Revenue growth (YoY) -17.5%
Net margin 1.1%
Return on equity 1.6%
Free cash flow HK$580M FY2025
P/E ratio 24.8 as of Jul 3, 2026
More key figures
Operating margin 2.7%
EPS (TTM) HK$0.0400
Dividend yield 1.5%
EPS growth (YoY) -20.0%
Net debt HK$670M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 61/100

Of which business quality 63 · Market factors (momentum, volatility) 20

Profitability 34
Margins and returns on capital today
Quality Growth 26
Are margins and returns improving?
Cashflow 66
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 86
Disciplined investing over empire-building
Low Volatility 58
Calm price path (market factor)
Momentum 6
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 96
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Jiumaojiu International Holdings Limited manages and operates Chinese cuisine restaurant brands in the People's Republic of China, Singapore, Canada, New Zealand, Malaysia, the United States, Thailand, and Indonesia. It operates through Tai Er, Song Hot Pot, Jiu Mao Jiu, and Others segments.

Full company description

Jiumaojiu International Holdings Limited manages and operates Chinese cuisine restaurant brands in the People's Republic of China, Singapore, Canada, New Zealand, Malaysia, the United States, Thailand, and Indonesia. It operates through Tai Er, Song Hot Pot, Jiu Mao Jiu, and Others segments. The company operates its restaurants under the Tai Er, SONG HOT-POT, Tai'er Suancai & Fish, Jiu Mao Jiu, CHAONABIAN, JIUMAOJIU, Shanwaimian, and Fresh Wood brand names. It is also involved in the food processing, central kitchen, and delivery business; and sales of goods. Jiumaojiu International Holdings Limited was is headquartered in Guangzhou, the People's Republic of China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jiumaojiu International Holding Ltd reported revenue of HK$5.2B in FY2025 versus HK$4.2B in FY2021, a compound +5.8%/yr. Reported net income was HK$58.2M in FY2025, compounding −35.7%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$5.2B
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+13.3%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+17.7%
Avg. growth/yr (8Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+22.9%
Revenue +5.8%/yr
FY21 HK$4.2B
FY22 HK$4.0B
FY23 HK$6.0B
FY24 HK$6.1B
FY25 HK$5.2B
Net income −35.7%/yr
FY21 HK$340M
FY22 HK$49.3M
FY23 HK$453M
FY24 HK$55.8M
FY25 HK$58.2M

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Cite: Fair Value Calculator (2026). "Jiumaojiu International Holding Ltd Fair Value". https://www.fairvalue-calculator.com/stock/9922

Peer Group

Restaurants · 227 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 61 · Above median
Fair Value upside +16% · Above median
Return on equity (TTM) 2% · Below median
Return on assets 2% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 3% · Below median
Revenue growth -18% · Bottom 25%
Dividend yield (TTM) 1.5% · Bottom 25%
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Restaurants median · lower = cheaper

P/E (TTM) 24.8× · Pricier than median
P/B 0.51× · Cheaper than 75% of peers
P/S (TTM) 0.32× · Cheaper than median
P/FCF 0.4× · Cheaper than median
EV/EBITDA 1.1× · Cheaper than 75% of peers
PEG 0.13× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 55 · sector 27
FUTURE 0 · sector 19
PAST 6 · sector 15
HEALTH 99 · sector 97
DIVIDEND 30 · sector 71

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Restaurants stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
McDonald's Corporation MCDS C$24.01 C$10.84 -55%
Starbucks Corporation SBUX $108.49 $35.83 -67%
Chipotle Mexican Grill, Inc CMG $32.00 $17.92 -44%
Yum! Brands, Inc YUM $150.34 $58.17 -61%
Restaurant Brands International Inc QSR C$104.50 C$36.37 -65%
Darden Restaurants, Inc DRI $218.90 $173.68 -21%
Yum China Holdings YUMC $47.90 $54.27 +13%
Texas Roadhouse, Inc TXRH $214.28 $104.89 -51%
Dutch Bros Inc BROS $51.02 $12.80 -75%
Domino's Pizza, Inc DPZ $353.72 $227.31 -36%

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Frequently asked questions

Is Jiumaojiu International Holding Ltd (9922) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$1.40 versus a price of HK$1.21, about +16% (undervalued).
What is the fair value of 9922?
Our model-based fair value for Jiumaojiu International Holding Ltd is HK$1.40 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$1.21.
What is the quality score of 9922?
Jiumaojiu International Holding Ltd has a Quality Score of 61/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Jiumaojiu International Holding Ltd (9922)?
Jiumaojiu International Holding Ltd reported trailing-twelve-month revenue of about HK$5.2B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 9922?
The net profit margin of Jiumaojiu International Holding Ltd is about 1.1%, meaning it keeps roughly 1.1% of revenue as net income. Based on the latest reported figures.
Does Jiumaojiu International Holding Ltd pay a dividend?
Jiumaojiu International Holding Ltd currently shows a dividend yield of about 1.49% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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