Core Insights - The latest annual ranking of the "Top 205 Global Hotel Groups" has been published, reflecting the development trajectory of the global hotel industry based on data from the end of 2024 [2] Group 1: Rankings and Performance - Marriott International retains the top position with 1,667,331 rooms across 9,131 hotels, an increase from 1,560,687 rooms and 8,566 hotels in 2023 [3] - Jin Jiang International Holdings Co., Ltd. ranks second with 1,454,335 rooms and 14,377 hotels, up from 1,342,161 rooms and 13,250 hotels in the previous year [3] - Hilton ranks third with 1,268,206 rooms and 8,447 hotels, compared to 1,182,937 rooms and 7,530 hotels in 2023 [3] - H World Group moves up to fourth place with 1,088,218 rooms and 11,147 hotels, an increase from 912,444 rooms [3][4] - IHG Hotels & Resorts ranks fifth with 987,125 rooms and 6,629 hotels, up from 946,203 rooms [3] Group 2: Trends and Changes - The number of hotel groups on the list has decreased by over one-third from 2019 to 2024, indicating a trend of consolidation in the industry [6][10] - The top 50 list includes 21 Chinese companies, an increase from 19 the previous year, highlighting the growing influence of Chinese hotel groups [5] - The industry is entering a new phase characterized by stronger brands and increased concentration, with many rising companies demonstrating strong capital, technology, or brand capabilities [8] Group 3: Brand Performance - HanTing Hotel from H World Group tops the single brand ranking with 359,475 rooms, followed by Holiday Inn Express from IHG with 343,957 rooms [11][13] - Jin Jiang International Holdings has seven brands listed, the highest number among the groups, reflecting its extensive portfolio [13] - The ranking of brands shows a competitive landscape where mid-range and economy segments are undergoing significant restructuring [13]

Core Viewpoint - Jin Jiang International Hotel Company expects a significant decline in net profit for the first half of 2025, projecting a decrease of approximately 52.81% to 57.53% compared to the same period last year, primarily due to the absence of non-recurring income from asset disposals in the previous year [2][4]. Financial Performance - For the first half of 2025, the company anticipates a net profit attributable to shareholders between 360 million to 400 million yuan, a drop from the previous year's profit by about 4.48 billion to 4.88 billion yuan [2]. - Jin Jiang's revenue from 2022 to 2024 was 11.31 billion yuan, 14.65 billion yuan, and 14.06 billion yuan respectively, with net profits of 127 million yuan, 1 billion yuan, and 911 million yuan [5]. - The average revenue per available room (RevPAR) has decreased, indicating a decline in profitability amid increasing competition in the hotel industry [5]. Expansion Strategy - Jin Jiang Hotel is in a phase of aggressive expansion, with plans to add 1,300 new hotels in 2025 and 2,000 new signed contracts [4]. - The company has a significant international presence, with operations in 55 countries and regions, and aims to enhance its overseas business through capital investment and management efficiency improvements [6][9]. Market Position - As of December 31, 2024, Jin Jiang Hotel operates 13,400 hotels with 1.29 million rooms, making it the largest hotel group in China and the second largest globally by room count [4]. - The company’s overseas revenue accounted for approximately 30% of total income in recent years, with stable gross profit margins compared to declining margins in the domestic market [6][7]. IPO Plans - Jin Jiang Hotel is pursuing a dual listing in Hong Kong, aiming to become the first hotel group in China to achieve an "A+H" listing [8]. - The funds raised from the IPO will be allocated to expanding overseas operations, repaying bank loans, and enhancing working capital [9].

证券代码：600754/900934 证券简称：锦江酒店/锦江 B 股 公告编号：2025-041 上海锦江国际酒店股份有限公司 上。 归属于上市公司股东的净利润为36,000万元到40,000万元。 一、本期业绩预告情况 （一）业绩预告期间 （二）业绩预告情况 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。 经财务部门初步测算，预计2025年半年度实现归属于上市公司股东的净利润 为36,000万元到40,000万元，与上年同期（法定披露数据）相比，将减少48,757 万元到44,757万元，同比下降57.53%到52.81%。 重要内容提示： 预计2025年半年度实现归属于上市公司股东的扣除非经常性损益后的净利润 为39,000万元到41,000万元，与上年同期（法定披露数据）相比，将增加148万元 到2,148万元，同比增长0.38%到5.53%。 （三）本业绩预告未经注册会计师审计。 二、上年同期经营业绩和财务状况 东的净利润为84,757.06万元；实现归属于上市公司股东的扣除非经常性损益后的 净利润为38,851.5 ...

本 次 回 购 注 销 后 ， 公 司 总 股 本 已 由 原 来 的 1,070,044,063 股 减 少 至 内容见下： 原条款内容 修订后条款内容 证券代码：600754/900934 证券简称：锦江酒店/锦江B股 公告编号：2025-039 上海锦江国际酒店股份有限公司 关于修订《公司章程》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。 上海锦江国际酒店股份有限公司（以下简称"公司"）于 2025 年 7 月 14 日召 开第十一届董事会第三次会议，审议通过了《关于修改公司章程的议案》，同意公 司减少注册资本，并对《公司章程》进行修订。具体情况如下： 鉴于公司 2024 年限制性股票激励计划第一个解除限售期公司层面业绩考核不 达标，及 2024 年限制性股票激励计划部分激励对象发生异动，公司已合计回购注 销激励对象持有的已获授但未解锁部分限制性股票 2,625,259 股。 第六条 公司注册资本为人民币壹拾亿零柒仟 第 六 条 公 司 注 册 资 本 为 人 民 币 零肆万肆仟零陆拾叁元。 1,067,418 ...

Fundraising Overview - The company has completed a private placement of 112,107,623 shares at a price of 44.60 RMB per share, raising a total of approximately 4.98 billion RMB after deducting issuance costs [1] - As of April 30, 2025, the company has utilized approximately 303.71 million RMB of the raised funds, leaving a balance of approximately 225.87 million RMB, which includes interest income of about 31.72 million RMB [2] Regulatory Agreement - The company signed a tripartite supervision agreement for the special account of raised funds with Shanghai Jinjiang City Hotel Management Co., Ltd., Industrial and Commercial Bank of China (ICBC) Shanghai Bund Branch, and Shenwan Hongyuan Securities [2][3] - The special account is exclusively for the "hotel renovation and upgrade project" and cannot be used for other purposes [3] Supervision and Compliance - Shenwan Hongyuan Securities is responsible for ongoing supervision of the use of raised funds, ensuring compliance with relevant laws and regulations [3][5] - The agreement stipulates that Shenwan Hongyuan can conduct on-site investigations and written inquiries regarding the use of funds, and the company must cooperate with these investigations [5][6] Account Management - The special account has a current balance of 0 RMB, indicating that funds are being utilized as intended [3] - The agreement will remain in effect until all funds are fully utilized and the account is legally closed [6]

General Provisions - The company aims to protect the legal rights of shareholders, employees, and creditors, and to regulate its organization and behavior according to relevant laws [1][2] - The company is established as a joint-stock company in accordance with the Company Law and other regulations, with a registered capital of RMB 1,067,418,804 [2][6] Company Structure - The company was approved to issue foreign currency shares and publicly offer RMB ordinary shares, listing on the Shanghai Stock Exchange on October 11, 1996 [2][3] - The company is located in the China (Shanghai) Pilot Free Trade Zone [2] Management and Governance - The board of directors represents the company in executing its affairs, with the chairman serving as the legal representative [3][4] - The company has established a mechanism to encourage innovation and reform, protecting responsible personnel from negative evaluations if projects do not meet expectations [5] Business Objectives - The company's core business is hotel operations, focusing on internationalization, branding, and marketization to enhance competitiveness and maximize shareholder value [6] Share Issuance and Capital Management - The company has issued a total of 1,067,418,804 shares, with specific rules governing the issuance, transfer, and repurchase of shares [7][8] - The company can increase capital through various methods, including issuing shares to unspecified or specific targets, and distributing bonus shares [8][9] Shareholder Rights and Responsibilities - Shareholders have rights to dividends, voting, and participation in company decisions, and must adhere to legal and regulatory obligations [11][12] - The company must maintain transparency and provide shareholders with access to relevant documents and information [12][13] Shareholder Meetings - The company holds annual and extraordinary shareholder meetings, with specific procedures for convening and conducting these meetings [19][20] - Shareholder proposals must be submitted in advance, and the company is required to notify shareholders of meeting details [25][26] Voting and Resolutions - Resolutions can be classified as ordinary or special, with different thresholds for approval based on the type of resolution [81][82] - Shareholders must exercise their voting rights in accordance with the regulations, and related party transactions require careful disclosure [85]

Group 1 - Cathay Pacific Haikou expects a net profit increase of 205%-218% for the first half of 2025, with a projected profit of 15.283 billion to 15.957 billion yuan [1] - The main reason for the profit increase is the merger with Haitong Securities, which has led to significant growth in wealth management and trading revenues [1] - Shenyuan Hongyuan anticipates a net profit increase of 92.66%-111.46% for the first half of 2025, with a projected profit of 4.1 billion to 4.5 billion yuan [6][7] Group 2 - Southern Airlines expects a net loss of 1.338 billion to 1.756 billion yuan for the first half of 2025, primarily due to changes in passenger structure and international uncertainties [2] - China Eastern Airlines projects a net loss of 1.2 billion to 1.6 billion yuan for the first half of 2025, influenced by intense domestic market competition [3] - Air China anticipates a net loss of 1.7 billion to 2.2 billion yuan for the first half of 2025, affected by market supply imbalances and international uncertainties [4] Group 3 - HNA Group expects to turn a profit in the first half of 2025, with a projected net profit of 45 million to 65 million yuan, attributed to improved market conditions and operational adjustments [5] - CICC forecasts a net profit increase of 55%-78% for the first half of 2025, with a projected profit of 3.453 billion to 3.966 billion yuan [8] - CITIC Securities anticipates a net profit increase of 55%-60% for the first half of 2025, with a projected profit of 4.43 billion to 4.573 billion yuan [9] Group 4 - Shandong Gold expects a net profit of 2.55 billion to 3.05 billion yuan for the first half of 2025, representing an increase of 84.3%-120.5% [10] - Poly Developments anticipates a net profit decrease of 63.15% for the first half of 2025, with a projected profit of 2.735 billion yuan [11] - Luoyang Molybdenum expects a net profit increase of 51%-68% for the first half of 2025, with a projected profit of 8.2 billion to 9.1 billion yuan [13] Group 5 - Longi Green Energy expects a net loss of 2.4 billion to 2.8 billion yuan for the first half of 2025, but with a significant reduction in losses compared to the previous year [14] - Tongwei Co. anticipates a net loss of 4.9 billion to 5.2 billion yuan for the first half of 2025, influenced by ongoing industry challenges [15] - Ganfeng Lithium expects a net loss of 300 million to 550 million yuan for the first half of 2025, an improvement from the previous year's loss [16] Group 6 - Jianghuai Automobile expects a net loss of approximately 680 million yuan for the first half of 2025, primarily due to increased competition in the international market [21] - Yonghui Supermarket anticipates a net loss of 240 million yuan for the first half of 2025, attributed to ongoing transformation challenges [22] - ST Huatuo expects a net profit increase of 107.2%-159% for the first half of 2025, with a projected profit of 2.4 billion to 3 billion yuan [23] Group 7 - New Hope anticipates a net profit of 680 million to 780 million yuan for the first half of 2025, marking a turnaround from losses [25] - Linyi Intelligent Manufacturing expects a net profit increase of 32%-67% for the first half of 2025, with a projected profit of 900 million to 1.14 billion yuan [27] - Pengding Holdings expects a net profit increase of 52.79%-60.62% for the first half of 2025, with a projected profit of 1.198 billion to 1.26 billion yuan [29] Group 8 - Hengtong Electronics expects a net profit increase of 740.95% for the first half of 2025, with a projected profit of approximately 251 million yuan [30] - Shengyi Technology anticipates a net profit increase of 50%-56% for the first half of 2025, with a projected profit of 1.4 billion to 1.45 billion yuan [31] - Founder Securities expects a net profit increase of 70%-80% for the first half of 2025, with a projected profit of 2.299 billion to 2.43 billion yuan [33]

上海锦江国际酒店股份有限公司 章程 （2025 年 7 月修订稿） 第一章 总则 第一条 为维护上海锦江国际酒店股份有限公司（以下简称"公司"或"本 公司"）、股东、职工和债权人的合法权益，规范公司的组织和行为，根据《中 华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》 （以下简称"《证券法》"）和其他有关规定，制定本章程。 第二条 公司系依照《公司法》和其他有关规定成立的股份有限公司。 公司经上海市人民政府财贸办公室"沪府财贸(92)第 661 号文、上海市经济 体制改革办公室沪体改办(92)第 136 号文"批准，以募集方式设立；在上海市工 商行政管理局注册登记，取得营业执照，营业执照号：企股沪总字第 019036 号。 《公司法》颁布以后，公司按照有关规定，对照《公司法》进行了规范，并依法 履行了重新登记手续。公司现统一社会信用代码：91310000132203715W。 第三条 公司于 1994 年 11 月 30 日经上海市证券办公室批准，首次向境外 投资人发行的外币认购并且在境内上市的境内上市外资股 100,000,000 股，于 1994 年 12 月 15 日在上海证券 ...

证券代码：600754/900934 证券简称：锦江酒店/锦江B股 公告编号：2025-040 上海锦江国际酒店股份有限公司 关于签订募集资金专户存储三方监管协议的公告 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。 一、募集资金基本情况 1 公司于 2025 年 6 月 4 日召开第十届董事会第四十一次会议，审议通过了《关于 开立募集资金专项账户的议案》。 于 2025 年 7 月 11 日，上海锦江都城酒店管理有限公司（以下简称"锦江都 城"）、公司、中国工商银行股份有限公司上海市外滩支行（以下简称"工行外 滩支行"）、申万宏源证券承销保荐有限责任公司（以下简称"申万宏源"）签 订了《募集资金专户存储三方监管协议》（以下简称"《三方监管协议》"）。 《三方监管协议》内容与上海证券交易所制订的《募集资金专户存储三方监管协 议（范本）》不存在重大差异。 公司募集资金专户开立及存储情况如下： | 账户名称 | 开户行 | 账号 | | --- | --- | --- | | 上海锦江都城酒店管理有限 | 中国工商银行股份有限公司 ...

证券代码：600754/900934 证券简称：锦江酒店/锦江B股 公告编号：2025-039 上海锦江国际酒店股份有限公司 关于修订《公司章程》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。 上海锦江国际酒店股份有限公司（以下简称"公司"）于 2025 年 7 月 14 日召 开第十一届董事会第三次会议，审议通过了《关于修改公司章程的议案》，同意公 司减少注册资本，并对《公司章程》进行修订。具体情况如下： 鉴于公司 2024 年限制性股票激励计划第一个解除限售期公司层面业绩考核不 达标，及 2024 年限制性股票激励计划部分激励对象发生异动，公司已合计回购注 销激励对象持有的已获授但未解锁部分限制性股票 2,625,259 股。 本次《公司章程》修订由公司董事会授权公司经营管理层负责向市场监督管 理局办理《公司章程》变更备案相关具体事项，办理人员在办理备案过程中，可 按照市场监督管理局或其他政府有关部门提出的意见或要求对本次修改事项进行 相应调整。以上修改最终以经市场监督管理局备案为准。 1 2024 年 9 月 2 ...