Core Viewpoint - The company reported a slight decline in revenue for the first half of 2025, but net profit increased, indicating improved profitability despite challenges in the hotel business [1][3]. Revenue and Profit Summary - In H1 2025, the company achieved revenue of 3.661 billion yuan, a year-on-year decrease of 1.93%, while net profit attributable to shareholders was 397 million yuan, an increase of 11.08% [1]. - In Q2 2025, revenue reached 1.896 billion yuan, a year-on-year increase of 0.42%, with net profit of 254 million yuan, up 7.37% [1]. Business Segment Performance - Hotel business revenue in H1 2025 was 3.365 billion yuan, down 2.09%, but profit increased by 20.53% to 395 million yuan. The decline in revenue was attributed to the closure of underperforming stores and a decrease in RevPAR [1][2]. - The management business benefited from the expansion of franchise stores, with revenue increasing by 11.70% [1]. - Scenic area revenue in H1 2025 was 296 million yuan, with profit totaling 153 million yuan, showing a slight decrease of 0.09% in revenue but a marginal increase in profit of 0.16% [2]. RevPAR and Hotel Operations - The RevPAR for all hotels, excluding light management hotels, was 153 yuan in H1 2025, down 4.3% year-on-year, with Q2 showing a smaller decline of 4.1% compared to Q1 [2]. - The average room rate in Q2 2025 was 242 yuan, down 2.0%, with an occupancy rate of 68.2%, a decrease of 1.5 percentage points [2]. - The company opened 664 new hotels in H1 2025, a year-on-year increase of 17.1%, with a focus on standard management hotels [2]. Profitability and Cost Control - The overall gross margin for H1 2025 was 38.33%, an increase of 0.76 percentage points, driven by a higher proportion of high-margin hotel management revenue [3]. - The company’s expense ratio was 24.02%, down 0.79 percentage points, with notable improvements in management expenses due to enhanced cost control [3]. - The net profit margin for H1 2025 was 10.85%, up 1.27 percentage points year-on-year, indicating effective cost management [3]. Future Outlook and Valuation - The company has slightly adjusted its net profit forecasts for 2025-2027 to 910 million, 1.092 billion, and 1.319 billion yuan, reflecting a cautious outlook on business travel demand recovery [4]. - The company maintains a positive view on its future development prospects, supported by an increasingly complete mid-to-high-end brand layout [4].

Core Viewpoint - The company experienced a slight decline in revenue but achieved a significant increase in net profit during the first half of 2025, indicating improved profitability despite revenue challenges [1][3]. Revenue and Profitability - In the first half of 2025, the company reported revenue of 3.661 billion yuan, a year-on-year decrease of 1.93%, while net profit attributable to shareholders reached 397 million yuan, reflecting a year-on-year growth of 11.08% [1]. - For the second quarter of 2025, revenue was 1.896 billion yuan, showing a year-on-year increase of 0.42%, and net profit was 254 million yuan, up 7.37% year-on-year [1]. Store Expansion and Structure - The company opened 664 new hotels in the first half of 2025, marking a 17.1% increase year-on-year, with 189 new mid-to-high-end hotels and 189 new economy hotels [2]. - By the end of the second quarter, the proportion of mid-to-high-end hotels increased to 29.3%, up 1.3 percentage points year-on-year [2]. - The company continued its light management expansion model, opening 286 light management hotels, which accounted for 43.1% of new openings, bringing the total number of hotels to 7,268 by the end of the second quarter [2]. Operational Performance - The overall revenue per available room (RevPAR) for all hotels decreased by 5.7% year-on-year in the second quarter, with both average daily rate (ADR) and occupancy rate (OCC) facing pressure [2]. - Mid-to-high-end hotels saw a RevPAR decline of 7%, with ADR and OCC down 4.8% and 1.6 percentage points, respectively [2]. - Economy hotels experienced a RevPAR decrease of 2.3%, with ADR and OCC down 0.4% and 1.3 percentage points [2]. - Light management hotels also faced challenges, with RevPAR down 8.8%, and ADR and OCC decreasing by 4.6% and 2.3 percentage points, respectively [2]. Profitability Enhancement - The company improved its gross margin to 38.33%, an increase of 0.75 percentage points year-on-year, attributed to reduced material consumption and energy costs due to a decline in the number of direct-operated hotels [3]. - The overall expense ratio decreased by 0.79 percentage points to 24.02%, with sales expenses rising due to increased OTA orders and membership income, while management expenses decreased due to cost control [3]. - The net profit margin increased by 1.68 percentage points to 11.5% [3]. Future Outlook - The company plans to open 1,500 new hotels in 2025, aiming to accelerate its expansion and enhance hotel product offerings [4]. - There is significant potential for further expansion of mid-to-high-end hotels in lower-tier markets, supported by a strong pipeline of existing stores [4]. - Projected net profits for 2025-2027 are 910 million, 1.046 billion, and 1.183 billion yuan, with corresponding price-to-earnings ratios of 19, 16, and 14 times [4].

Core Points - The Supervisory Board of Beijing Shoulv Hotel (Group) Co., Ltd. held its eighth meeting of the ninth session on August 27, 2025, and unanimously approved three proposals [1][2] - The Supervisory Board expressed no objections to the company's 2025 semi-annual report, confirming that it complies with legal and regulatory requirements and accurately reflects the company's operational and financial status [1][2] - The proposal to cancel the Supervisory Board and abolish the "Supervisory Board Meeting Rules" was approved, with the responsibilities being transferred to the Audit Committee of the Board of Directors, effective from July 1, 2024 [2][3] Summary by Sections Meeting Details - The meeting was conducted via communication means with three supervisors present, and all proposals were passed unanimously [1] Semi-Annual Report - The Supervisory Board reviewed the 2025 semi-annual report and confirmed that the preparation and review processes adhered to all relevant laws, regulations, and internal management systems [1][2] - The report's content and format meet the requirements set by the China Securities Regulatory Commission and the stock exchange, ensuring that the information accurately reflects the company's management and financial conditions [2] Fund Management - The Supervisory Board reviewed the special report on the storage and actual use of raised funds for the first half of 2025, finding no objections regarding the management of idle raised funds [2] Governance Changes - The proposal to abolish the Supervisory Board will not adversely affect the company's governance or operations, and the Supervisory Board expressed gratitude for the contributions made by its members during their tenure [2][3]

关于召开2025年第三次临时股东会的通知 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。 重要内容提示： 召开的日期时间：2025 年 9 月 19 日 14 点 30 分 证券代码：600258 证券简称：首旅酒店 编号：临 2025-039 北京首旅酒店（集团）股份有限公司 的投票，应按照《上海证券交易所上市公司自律监管指引第 1 号 — 规范运 作》等有关规定执行。 (七)涉及公开征集股东投票权 无 二、 会议审议事项 召开地点：北京市朝阳区雅宝路 10 号凯威大厦三层 301 会议室 (五)网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2025 年 9 月 19 日 至2025 年 9 月 19 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过 互联网投票平台的投票时间为股东大会召开当日的 9:15-15:00。 (六)融资融券、转融通 ...

Core Viewpoint - The report highlights the financial performance and operational strategies of Beijing BTG Hotels Group Co., Ltd. for the first half of 2025, showcasing a slight decline in revenue but an increase in net profit, alongside a focus on expanding mid-to-high-end hotel offerings and enhancing digital capabilities. Financial Performance - Total revenue for the first half of 2025 was CNY 3,660,929,011.03, a decrease of 1.93% compared to the same period last year [3] - Total profit amounted to CNY 548,718,638.61, reflecting a growth of 14.04% year-on-year [3] - Net profit attributable to shareholders was CNY 397,140,525.81, an increase of 11.08% from the previous year [3] - The company reported a net cash flow from operating activities of CNY 1,546,488,494.37, up by 3.67% year-on-year [3] Industry Overview - The domestic tourism market showed strong recovery, with total trips reaching 3.285 billion, a year-on-year increase of 20.6%, and total spending of CNY 3.15 trillion, up 15.2% [5] - The hotel industry is experiencing a trend towards higher brand concentration, with the top ten hotel groups in China holding a market share of 60.48% in the chain hotel sector [6] - There is significant growth potential in lower-tier cities, where the chain hotel penetration rate remains low [6] Business Operations - The company operates primarily in the mid-to-high-end and economy hotel segments, with a focus on both hotel operation and management [7] - Revenue from hotel operations accounted for 61.02% of total income, while hotel management contributed 30.89% [8] - The company has a diverse brand portfolio, including Home Inn, Motel 168, and others, catering to various market segments [8] Expansion and Development - The company opened 175 new standard management hotels, a year-on-year increase of 45.8%, with a total of 1,750 stores in the pipeline [10][11] - The proportion of mid-to-high-end hotels increased to 29.3%, with their revenue accounting for 60.47% of total hotel income [11] - The company continues to prioritize franchise models for expansion, particularly in lower-tier cities [11] Customer Experience and Digital Strategy - The company emphasizes enhancing customer experience through personalized services and digital innovations, including a comprehensive online management system [16][17] - The "如 LIFE Club" membership program has been expanded to offer unique benefits, enhancing customer loyalty [14] - The company is leveraging AI and big data to improve operational efficiency and customer service [18] Market Data - As of June 30, 2025, the company operated 7,268 hotels with a total of 531,964 rooms, of which 2,132 were mid-to-high-end hotels [21][22] - The company’s hotel management model is increasingly dominant, with 92.0% of its hotels operated under this model [11]

Core Viewpoint - Beijing Shoulv Hotel Group Co., Ltd. reported a slight decline in total assets and operating income for the first half of 2025, while net profit and total profit showed an increase compared to the same period last year [1]. Financial Summary - Total assets at the end of the reporting period were approximately 24.47 billion RMB, a decrease of 1.68% from the previous year [1]. - Operating income for the period was approximately 3.66 billion RMB, down 1.93% year-on-year [1]. - Total profit reached approximately 548.72 million RMB, an increase of 14.04% compared to the previous year [1]. - Net profit attributable to shareholders was approximately 397.14 million RMB, up 11.08% year-on-year [1]. - The net profit after deducting non-recurring gains and losses was approximately 335.60 million RMB, a slight increase of 3.81% from the previous year [1]. Operational Strategy - The company plans to focus on standard management hotel development and steadily advance its opening plan for 2025, emphasizing regional market development and refined market layout [5]. - There will be an acceleration in the cultivation of innovative hotel products and the introduction of new market segments, while maintaining product consistency across brands [5]. - The company aims to enhance service quality through standardized service processes and personalized brand experiences, targeting both existing and new customer segments [6]. Marketing and Digital Strategy - The company will leverage digital tools to optimize store operations and implement a multi-dimensional pricing management mechanism to improve operational efficiency [6]. - There is a focus on enhancing AI applications in revenue management and digital platform construction to improve online traffic coordination [7]. - The company will also strengthen customer relationship management and expand its customer base through various marketing strategies during peak seasons [6].

Summary of Key Points Core Viewpoint - Beijing Shoulv Hotel Group Co., Ltd. has reported on the management and usage of raised funds for the first half of 2025, highlighting compliance with regulatory requirements and detailing the allocation of funds for hotel expansion and upgrades. Fundraising Overview - The company was approved to issue 134,348,410 shares at a price of RMB 22.33 per share, raising a total of RMB 2,994,275,995.30, with net proceeds of RMB 2,990,790,514.72 after deducting issuance costs [1][2] - As of June 30, 2025, the company has utilized RMB 1,619,257,322.74 for hotel expansion and upgrades, and RMB 900,000,000.00 for repaying bank loans, totaling RMB 2,519,257,322.74 in usage, leaving a balance of RMB 471,533,191.98 [1][2] Fund Management - The company has established a dedicated fund management system, ensuring that raised funds are stored and managed in specialized accounts [1][2] - As of June 30, 2025, the balance in the fundraising special account was RMB 44,641,805.17, including interest income [1][2] Investment Projects - The company has approved the use of RMB 153,479,401.99 to replace self-raised funds previously invested in hotel expansion and upgrades [2][3] - There were no instances of using idle funds to temporarily supplement working capital as of June 30, 2025 [2][3] Cash Management - The company has utilized idle funds for cash management, investing a total of RMB 8,550,000,000.00 in financial products, with RMB 8,000,000,000.00 redeemed upon maturity [3][6] - As of June 30, 2025, the company has not recovered the principal of RMB 55,000,000.00 from the financial products purchased with idle funds [3][6] Compliance and Reporting - The company has adhered to regulatory requirements and internal management protocols, ensuring accurate and timely disclosure of fundraising usage and management [2][3][6] - There have been no violations in the management and usage of raised funds as of June 30, 2025 [2][3][6]

Core Viewpoint - Beijing Shoulv Hotel Group Co., Ltd. is proposing amendments to its Articles of Association, which require approval from the shareholders' meeting with a two-thirds majority vote from attending shareholders [1][2]. Summary by Sections Company Governance - The board of directors has approved the proposal to amend the Articles of Association, which is a special resolution requiring shareholder approval [1]. - The amendments include provisions regarding the appointment and responsibilities of the legal representative, ensuring that the company bears civil liability for actions taken by the legal representative [2][3]. Shareholder Rights and Obligations - The Articles serve as a binding document that regulates the rights and obligations between the company, shareholders, and management [3]. - Shareholders have the right to sue the company and its directors, supervisors, and senior management under the provisions of the Articles [3]. Share Issuance and Capital Increase - The company can increase its capital through various methods, including public and private offerings, and must adhere to the stipulations regarding the issuance of shares [5][6]. - The board can decide on share issuance within three years, provided it is approved by a two-thirds majority of the board [6]. Shareholder Meetings - The procedures for convening shareholder meetings and voting must comply with legal and regulatory requirements [16][26]. - Shareholders holding a significant percentage of shares can request the convening of a temporary shareholders' meeting under certain conditions [24][27]. Legal Compliance and Responsibilities - The company and its directors must comply with laws and regulations, and any violations can lead to legal consequences [18][24]. - Shareholders are obligated to act in the company's best interest and may face liability for any damages caused by the abuse of their rights [20][21].

Core Viewpoint - The financial company has established a comprehensive internal control system and adheres to regulatory requirements, demonstrating effective risk management and operational stability [16]. Group 1: Company Overview - The financial company, established in 2013, has a registered capital of 2 billion RMB and provides financial management services to the Beijing Capital Tourism Group and its subsidiaries [2][3]. - The shareholders include Beijing Capital Tourism Group (56.64%), Wangfujing Group (25%), and China Quanjude Group (12.5%) [2]. Group 2: Internal Control and Risk Management - The company has a well-defined governance structure with a board of directors, risk control committee, and audit committee to oversee risk management and compliance [5][6]. - The risk control committee is responsible for approving risk management frameworks and monitoring risk levels across various categories [5]. - The audit committee supervises internal controls and audits, ensuring compliance with financial regulations [6]. Group 3: Financial Performance - As of June 30, 2025, the company reported total assets of approximately 12.71 billion RMB and net profit of approximately 42.83 million RMB for the first half of 2025 [13][14]. - The capital adequacy ratio stands at 21.58%, exceeding regulatory requirements, while the liquidity ratio is 69.52% [14]. Group 4: Business Operations - The company offers various services, including deposit acceptance, loan processing, and financial consulting for its member units [4][8]. - The company has implemented a robust internal control system to manage risks associated with its financial operations [10][12]. Group 5: Risk Assessment - The financial company has not encountered significant operational risks or regulatory penalties since its inception, indicating a stable operational environment [14][16]. - The company maintains a strong focus on risk management, ensuring that all regulatory indicators are met [16].

证券代码：600258 证券简称：首旅酒店 编号：临 2025-040 北京首旅酒店（集团）股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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。 重要提示： ●会议召开时间：2025 年 9 月 16 日(星期二) 下午 16:00-17:00 ●会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/） ●会议召开方式：上证路演中心网络互动 本次投资者说明会以网络互动形式召开，公司将针对 2025 年上半年度的经 营状况、财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的 范围内就投资者普遍关注的问题进行回答。 二、说明会召开的时间、地点 三、参加人员 公司董事、总经理孙坚先生；公司独立董事李燕女士；公司独立董事伏军先 生；公司独立董事沈杰先生；公司独立董事张焕杰先生；公司副总经理兼财务总 监李向荣女士；公司副总经理、董事会秘书段中鹏先生。 四、投资者参加方式 网登陆上证路演中心 http://roadshow ...