Jiumaojiu franchises fish, hotpot brands

Mainland restaurant chain operator Jiumaojiu International (9922) said yesterday it has introduced the franchise model for its sub-brands, Tai Er Sauerkraut Fish and Shandeshanwaimian Suantang Hot Pot.

The franchise model has been available for Tai Er, a restaurant brand focusing on sour-spicy fish, in Xinjiang, Xizang, and Taiwan, transportation hubs in mainland China such as airports and high-speed railway stations, as well as in Australia and New Zealand, according to a filing.

Jiumaojiu believes the franchise model will boost faster expansion and regional penetration of the brands, utilize its partners' expertise and business network, and reduce the operation risks of the group compared to the self-operated model.

But for other brands, the group added that it currently will focus on self-operated models.

It comes after Tai Er opened four shops in Hong Kong in December. Founded in 1995, Jiumaojiu operates more than 700 restaurants globally.

In other news, Meituan (3690) chief executive Wang Xing is taking direct control of the meal delivery leader's overseas businesses, part of a sweeping overhaul intended to counter a slowdown and intense competition at home.

The billionaire founder told employees that he will directly oversee the company's drone delivery and overseas businesses. He also plans to integrate business lines that once operated relatively independently, such as research and in-store services, with the main Meituan platform.