Investment Rating - The investment rating for the company is maintained at "Buy" [6] Core Views - The company reported a revenue of 5.782 billion RMB for Q1-Q3, a year-on-year decrease of 1.8%, while the net profit attributable to the parent company was 755 million RMB, an increase of 4.4% year-on-year [1][6] - The company is experiencing pressure on revenue per available room (RP), but the decline is narrowing compared to the previous quarter, indicating resilience in the hotel operations [2][3] - The company is focusing on long-term growth by transforming its core brand to appeal to younger consumers and enhancing product offerings, which is expected to revitalize its growth trajectory [1][2] Revenue and Profitability - For Q3, the company achieved a revenue of 2.121 billion RMB, down 1.6% year-on-year, with a net profit of 358 million RMB, down 2.2% year-on-year [1][2] - The adjusted net profit for Q3 was 340 million RMB, reflecting a year-on-year increase of 0.6%, with a net profit margin of 16.0%, up 0.4 percentage points year-on-year [1][2] Market Performance - The overall RP for the company in Q3 was 191 RMB, a decrease of 2.4% year-on-year, while the average daily rate (ADR) was 259 RMB, down 2.0% year-on-year [2] - The occupancy rate (OCC) stood at 73.6%, a slight decrease of 0.3 percentage points year-on-year [2] Expansion and Store Management - As of Q3, the company had a total of 7,501 stores, with economic and mid-to-high-end hotels accounting for 26.9% and 29.6% of the total, respectively [3] - The company opened 387 new stores in Q3, a year-on-year increase of 0.5%, with a net addition of 233 stores, down 14.7% year-on-year [3] Financial Forecast and Valuation - The net profit forecast for the company has been adjusted to 858 million RMB, 980 million RMB, and 1.094 billion RMB for the years 2025, 2026, and 2027, respectively [4] - The target price has been adjusted to 17.07 RMB, based on a price-to-earnings (PE) ratio of 22.2 times for 2025 [4]

Core Insights - Company reported a total operating revenue of 5.782 billion, ranking first among disclosed peers [1] - Net profit attributable to shareholders reached 755 million, also ranking first, with a year-on-year increase of 31.51 million, representing a 4.36% growth compared to the same period last year [1] - Net cash inflow from operating activities was 2.631 billion, again ranking first among peers [1] Financial Performance - The latest debt-to-asset ratio is 51.11%, ranking third among disclosed peers, down by 0.50 percentage points from the previous quarter and down 2.84 percentage points year-on-year [3] - Gross profit margin stands at 40.70%, ranking first, with an increase of 2.37 percentage points from the previous quarter and a 1.11 percentage point increase year-on-year [3] - Return on equity (ROE) is 6.26%, ranking first, with a slight increase of 0.04 percentage points compared to the same period last year [3] - Diluted earnings per share are 0.68, ranking first, with an increase of 0.03 compared to the same period last year, marking a 4.35% year-on-year growth [3] Operational Efficiency - Total asset turnover ratio is 0.23 times [3] - Inventory turnover ratio is 89.12 times, ranking first, with an increase of 8.26 times year-on-year, representing a 10.22% growth compared to the same period last year [3] Shareholder Structure - The number of shareholders is 44,300, with the top ten shareholders holding 669 million shares, accounting for 59.94% of the total share capital [3] - Major shareholders include Beijing Zhidu Tourism Group Co., Ltd. (34.54%) and Ctrip Tourism Information Technology (Shanghai) Co., Ltd. (12.26%) [3]

Core Insights - The company reported a slight decline in revenue and net profit for Q3 2025 compared to the previous year [1] - The overall performance for the first three quarters of 2025 showed a growth in total profit, driven mainly by the hotel business [1] Financial Performance - Q3 2025 revenue was 2.121 billion yuan, a year-on-year decrease of 1.6% [1] - Net profit attributable to shareholders for Q3 was 358 million yuan, down 2.21% year-on-year [1] - Total profit for the first three quarters increased by 4.21% to 1.03 billion yuan [1] - Hotel business profit for the first three quarters grew by 5.25% to 846 million yuan [1] - Net profit attributable to shareholders for the first three quarters was 755 million yuan, up 4.36% year-on-year [1] - Net profit excluding non-recurring gains and losses was 675 million yuan, a 2.15% increase year-on-year [1] Operational Metrics - RevPAR (Revenue per Available Room) for Q3 was 191 yuan, a decrease of 2.4% year-on-year [1] - Occupancy rate (Occ) was 73.6%, down 0.3 percentage points year-on-year [1] - Average Daily Rate (ADR) was 259 yuan, a decline of 2% year-on-year [1] - As of September 30, 2025, the company operated 7,501 hotels (including 2 overseas) with a total of 544,155 rooms [1] - The number of mid-to-high-end hotels was 2,223, accounting for 29.6% of total hotels, with 231,234 rooms, representing 42.5% of total room count [1]

Core Insights - The company reported a revenue of 5,782,127,333.27 yuan for the first three quarters of 2025, representing a year-on-year decrease of 1.81% [1] - The net profit attributable to shareholders of the listed company was 754,695,687.39 yuan, showing a year-on-year increase of 4.36% [1] Financial Performance - Revenue for the first three quarters of 2025: 5,782,127,333.27 yuan, down 1.81% year-on-year [1] - Net profit for the same period: 754,695,687.39 yuan, up 4.36% year-on-year [1]

Group 1 - The core point of the article is the significant block trade of Shoulv Hotel on October 29, with a transaction volume of 390,000 shares and a transaction amount of 5.9865 million yuan, executed at a price of 15.35 yuan, representing a premium of 7.49% over the closing price of the day [2] Group 2 - The closing price of Shoulv Hotel on the same day was 14.28 yuan, reflecting an increase of 0.35%, with a turnover rate of 0.63% and a total transaction amount of 101 million yuan [2] - The net outflow of main funds for the day was 6.3131 million yuan, while the stock has seen a cumulative decline of 0.21% over the past five days, with a total net inflow of 742,300 yuan [2] Group 3 - The latest margin financing balance for Shoulv Hotel is 158 million yuan, which has increased by 2.9772 million yuan over the past five days, marking a growth rate of 1.92% [2]

Core Insights - The core viewpoint of the article is that Shoulu Hotel's financial performance in Q3 2025 shows a decline in both revenue and net profit compared to the previous year, indicating challenges in the hotel industry. Financial Performance - Shoulu Hotel reported operating revenue of 2.121 billion yuan, a year-on-year decrease of 1.6% [1] - The net profit attributable to shareholders was 358 million yuan, down 2.21% year-on-year [1] Key Metrics - Revenue per available room (RevPAR) was 191 yuan, reflecting a 2.4% year-on-year decline [1] - Occupancy rate (Occ) stood at 73.6%, a decrease of 0.3 percentage points compared to the previous year [1] - Average daily rate (ADR) was 259 yuan, down 2% year-on-year [1] Expansion Activities - The company opened 387 new hotels during the reporting period, representing a year-on-year growth of 0.5% [1] - Among the new openings, 219 were standard management hotels, accounting for 56.6% of all new openings [1]

北京首旅酒店(集团)股份有限公司 ESG 治理架构 前言 完善的 ESG 治理架构需要企业在治理层、管理层和执行层明确相关人员及其 对 ESG 事项的职责和权限，以实现将 ESG 工作提高到公司战略层面，促进 ESG 理念与企业战略和运营的融合，为企业稳健经营保驾护航，同时，满足投资者对 企业 ESG 风险、机遇管理的期望和要求。 ESG 治理架构与职责 根据证监会要求及公司实际情况，现将董事会下"战略委员会"调整为"战 略与 ESG 委员会"，负责制定 ESG 战略、审议 ESG 相关提案等，委员会成员兼顾 战略及 ESG 背景，构建从上至下的 ESG 治理架构。 公司 ESG 治理架构由董事会、战略与 ESG 委员会、ESG 工作小组、ESG 执行 小组组成。 （一）董事会 董事会作为公司 ESG 治理的最高决策机构，对公司的 ESG 策略及汇报承担全 部责任。ESG 工作主要职责包括： 制定 ESG 治理方针和策略，包括战略规划、目标设立、政策制定、评估 及管理重要 ESG 议题，以及相关事宜对公司业务的影响等； 图注：ESG 治理架构 （二）战略与 ESG 委员会 战略与 ESG 委员会是公司 ESG ...

股票代码：600258 股票简称：首旅酒店 编号：临 2025-042 北京首旅酒店（集团）股份有限公司 第九届董事会第十二次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 1 《北京首旅酒店（集团）股份有限公司董事会战略与 ESG 委员会实施细则》 已经 2025 年 10 月 27 日下午 17 时召开的董事会战略委员会会议事前审核通过， 及本次董事会审议通过，全文详见上交所网站 http://www.sse.com.cn。 北京首旅酒店（集团）股份有限公司（以下简称"公司"或"首旅酒店"） 第九届董事会第十二次会议于 2025 年 10 月 28 日（星期二）上午 9：30 以通讯 方式召开。本次会议的通知已于 10 月 20 日以邮件方式送达公司各位董事和公司 高管人员。本次会议应到董事 11 名，11 名董事亲自出席会议。符合《公司法》 和《公司章程》的有关规定。会议提出并经过表决通过以下议案： 一、以赞成 11 票，占全体董事表决票数的 100%；回避 0 票；反对 0 票；弃 权 0 票的表决结果通 ...

Financial Performance - The company's operating revenue for Q3 2025 was ¥2,121,198,322.24, a decrease of 1.60% compared to the same period last year[5]. - The total profit for the period was ¥481,704,034.93, reflecting a decline of 5.10% year-over-year[5]. - Net profit attributable to shareholders was ¥357,555,161.58, down 2.21% from the previous year[5]. - The basic earnings per share for the quarter was ¥0.3202, a decrease of 2.21% compared to the same period last year[5]. - In Q1-Q3 2025, the company achieved total revenue of CNY 578,212.73 million, a decrease of 1.81% year-on-year[16]. - The company's net profit attributable to shareholders for Q1-Q3 2025 was CNY 75,469.57 million, an increase of 4.36% year-on-year[17]. - The total profit for the company in Q1-Q3 2025 was CNY 103,042.27 million, an increase of 4.21% year-on-year[17]. - The net profit for the first three quarters of 2025 reached CNY 780,592,139.34, an increase of 6.7% compared to CNY 731,110,691.96 in the same period of 2024[38]. - The total comprehensive income for the first three quarters of 2025 was CNY 779,679,811.68, up from CNY 730,683,112.04 in 2024, reflecting a growth of 6.7%[38]. - Basic and diluted earnings per share for the first three quarters of 2025 were CNY 0.6759, compared to CNY 0.6477 in 2024, indicating an increase of 4.9%[38]. Assets and Liabilities - The total assets at the end of the reporting period were ¥24,950,625,486.82, representing a slight increase of 0.26% from the end of the previous year[5]. - Total assets as of September 30, 2025, amounted to CNY 24,950,625,486.82, a slight increase from CNY 24,885,179,791.50 at the end of 2024[36]. - Total liabilities decreased to CNY 12,752,255,743.76 as of September 30, 2025, from CNY 13,064,669,248.36 at the end of 2024, indicating a reduction in financial leverage[36]. - Total liabilities decreased to CNY 3,612,705,435.76 from CNY 4,472,348,992.35, reflecting a reduction of 19.3%[44]. - The company's total equity increased to CNY 12,256,520,304.50 from CNY 11,890,427,273.06, an increase of 3.1%[44]. Cash Flow - The cash flow from operating activities for the year-to-date was ¥2,630,802,381.52, showing a decrease of 2.56%[5]. - Operating cash flow for the first three quarters of 2025 was CNY 2,630,802,381.52, slightly down from CNY 2,699,808,693.36 in 2024, a decrease of 2.6%[39]. - Cash and cash equivalents at the end of September 2025 were CNY 1,283,991,909.22, down from CNY 1,376,701,095.67 at the end of 2024, a decline of 6.7%[40]. - The company reported a net cash outflow from investing activities of CNY 794,253,060.85 for the first three quarters of 2025, compared to a net outflow of CNY 846,970,413.23 in 2024, showing an improvement of 6.2%[40]. - The company's cash inflow from operating activities totaled CNY 195,346,801.59, down from CNY 227,703,789.27 in the previous year, a decline of 14.2%[48]. Hotel Operations - The average daily rate (ADR) for hotels was CNY 259, down 2.0% year-on-year, while the revenue per available room (RevPAR) was CNY 191, down 2.4% year-on-year[12]. - The company opened 387 new hotels in the reporting period, with 219 being standard management hotels, representing 56.6% of all new openings[13]. - As of September 30, 2025, the company had a total of 7,501 hotels, including 2,223 mid-to-high-end hotels, which accounted for 29.6% of the total hotel count[18]. - The company’s hotel operations revenue decreased by 2.00% year-on-year to CNY 539,252.14 million, while hotel management revenue increased by 12.86% to CNY 20,578.63 million[16]. - The company’s mid-to-high-end hotel room count increased to 231,234, representing 42.5% of the total room count[18]. - The company’s economy hotels segment opened 99 new hotels in Q3 2025, while the mid-range segment added 120[23]. - The total number of mature hotels (operating for over 18 months) reached 5,341, with a RevPAR of 165 RMB, down 8.2% year-over-year[28]. - The occupancy rate for all hotels in Q3 2025 was 68.9%, a decline of 0.8 percentage points compared to the previous year[25]. Strategic Initiatives - The company launched the "Youth Card" for university students, enhancing customer engagement and loyalty[14]. - The company plans to continue focusing on cost control and operational efficiency to enhance profitability in the upcoming quarters[37]. - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and customer experience[38]. - The company will not apply new accounting standards starting from 2025[50].

PL-01-07 普发 环境、社会及公司治理（ESG）信息披露管理办法 北京首旅酒店（集团）股份有限公司 环境、社会及公司治理（ESG）信息披露管 理办法 | | | PL-01-07 普发 环境、社会及公司治理（ESG）信息披露管理办法 北京首旅酒店（集团）股份有限公司 环境、社会及公司治理（ESG）信息披露管理办法 1 目的 为进一步规范北京首旅酒店（集团）股份有限公司（以下简称"公司"）ESG 报告信息披露流程，明确相关部门、人员的职责和权限，为公司 ESG 报告信息披 露提供指引，促进公司 ESG 信息披露水平提升，特制定本管理办法 2 适用范围 3 编制依据 3.1 《中华人民共和国公司法》，主席令第四十二号，2023 年 12 月修订，全 国人民代表大会常务委员会。 3.2 《中华人民共和国证券法》，主席令第四十三号，2019 年 12 月修订，全 国人民代表大会常务委员会。 3.3 《上市公司治理准则》，〔2018〕29 号，中国证券监督管理委员会。 3.4 《上市公司信息披露管理办法》，第 182 号令，中国证券监督管理委员会。 3.5 《上市公司信息披露暂缓与豁免管理规定》，〔2025〕8 ...