证券代码：600754/900934 证券简称：锦江酒店/锦江B股 公告编号：2025-045 上海锦江国际酒店股份有限公司 第十一届董事会第五次会议决议公告 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。 上海锦江国际酒店股份有限公司（以下简称"公司"、"本公司"）于 2025 年 8 月 15 日以电话、电子邮件和书面形式发出了关于召开第十一届董事会第五次 会议的通知，会议于 2025 年 8 月 26 日下午在上海静安昆仑大酒店董事会议室召 开，会议应到董事 9 名，实到董事 9 名。本次会议出席人数、召开程序、议事内 容均符合《中华人民共和国公司法》（以下简称"《公司法》"）和《上海锦江 国际酒店股份有限公司章程》（以下简称"《公司章程》"）的规定。会议由公 司董事长张晓强先生主持，公司部分高管列席了本次会议。会议审议并通过了如 下决议： 一、关于公司 2025 年半年度报告及摘要的议案 2025 年半年度报告及摘要详见上海证券交易所网站（www.sse.com.cn） 本议案已经公司董事会审计、风控与合规委员会审议通 ...

上海锦江国际酒店股份有限公司2025 年半年度报告 公司代码：600754/900934 公司简称：锦江酒店/锦江 B 股 上海锦江国际酒店股份有限公司 2025 年半年度报告 1 / 220 上海锦江国际酒店股份有限公司2025 年半年度报告 重要提示 五、董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请投资者 注意投资风险。 七、是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、是否存在违反规定决策程序对外提供担保的情况 否 九、是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、重大风险提示 公司已在本报告中详细阐述存在的行业风险、市场风险等，敬请查阅"管理层讨论与分析"部分的 内容。 十一、其他 √适用 □不适用 本半年度报告分别以中文和英文两种文字印制，在对两种语言文本的说明上存在歧义时，以中文文 本为准。 3 / 220 | 第一节 | 释义 5 | | | --- | --- | --- | | 第二节 | 公司简介和主 ...

截至 2025 年 6 月 30 日止，本公司以前年度使用募集资金人民币 297,570.86 万元，本年度使用募集资金人民币 6,936.02 万元，累计使用募集资金人民币 304,506.88 万元（其中未包含募集资金产生的银行手续费用人民币 1.80 万元）。尚 未使用的募集资金余额计人民币 225,636.51 万元（其中包含募集资金产生的利息 收入人民币 32,290.67 万元）。 1 证券代码：600754/900934 证券简称：锦江酒店/锦江B股 公告编号：2025-046 二、募集资金存放和管理情况 为规范募集资金的管理和使用，本公司根据《上海证券交易所上市公司自律 监管指引第 1 号——规范运作》等有关法律、法规的规定，结合本公司实际情况 制定了本公司《募集资金管理办法》，对所有募集资金实行专户存储，实行严格的 审批程序，以保证专款专用。 上海锦江国际酒店股份有限公司 2025 年半年度募集资金存放与实际使用情况 的专项报告 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 ...

锦江酒店正在加速"出海"。 中国品牌"出海"又迎来新动向。8月27日，锦江酒店（中国区）与马来西亚酒管集团RIYAZ宣布战略合作，RIYAZ为此次合作特别成立酒店管理公司RJJ Hotels。锦江酒店（中国区）和RJJ Hotels正式签署管理许可协议，未来5年内计划在马来西亚、印度尼西亚、越南、老挝、柬埔寨和菲律宾合力拓展超150个 酒店项目。 同时，锦江系还拟自主发展，在东南亚市场整体5年突破500家酒店（自主发展加与RJJ合作项目）。 HOTEL MA OF U rlift METROPOLO IINHANG HOTELS 图且都是酒店 IOITING RI 规模化"出海" 据了解，RJJ Hotels后续将负责锦江酒店（中国区）旗下锦江都城、麗枫、锦江之星、暻阁、云居五大品牌在上述六国的酒店项目开发、筹建支持及运营管 理工作，与锦江酒店（中国区）在当地的派驻团队一起，推动新拓酒店项目的落地。 锦江酒店（中国区）旗下有超30个品牌，覆盖高端至经济型全品类。今后锦江酒店（中国区）将以"轻资产进入+扎根当地"的模式 ，在东南亚构建起开发、 筹建、运营一体化的自循环管理机制。除了联合RIYAZ共同拓展，还会在 ...

Market Performance - The hotel and catering sector increased by 2.29% on August 25, with Quan Jud leading the gains [1] - The Shanghai Composite Index closed at 3883.56, up 1.51%, while the Shenzhen Component Index closed at 12441.07, up 2.26% [1] Individual Stock Performance - Quan Jud (002186) closed at 13.74, up 10.01% with a trading volume of 345,100 shares and a transaction value of 452 million [1] - Shou Lv Hotel (600258) closed at 15.14, up 3.20% with a trading volume of 346,700 shares and a transaction value of 517 million [1] - Xi'an Catering (000721) closed at 10.44, up 2.65% with a trading volume of 936,300 shares and a transaction value of 26.68 million [1] - Junting Hotel (301073) closed at 25.33, up 2.63% with a trading volume of 141,500 shares and a transaction value of 356 million [1] - Tongqing Lou (605108) closed at 20.86, up 1.81% with a trading volume of 66,300 shares and a transaction value of 137 million [1] - Jin Jiang Hotel (600754) closed at 23.61, up 0.85% with a trading volume of 156,300 shares and a transaction value of 367 million [1] - Jinling Hotel (601007) closed at 7.96, up 0.76% with a trading volume of 195,700 shares and a transaction value of 155 million [1] - Huatian Hotel (000428) closed at 3.71, up 0.54% with a trading volume of 480,900 shares and a transaction value of 179 million [1] - ST Yunwang (002306) closed at 1.93, unchanged with a trading volume of 256,300 shares and a transaction value of 49.29 million [1] Capital Flow - The hotel and catering sector saw a net inflow of 122 million from main funds, while retail investors experienced a net outflow of 1.04 billion [1] - The main funds' net inflow for Quan Jud was 78.36 million, accounting for 17.34% of its trading volume [2] - Shou Lv Hotel had a main fund net inflow of 36.59 million, representing 7.08% of its trading volume [2] - Junting Hotel recorded a main fund net inflow of 12.87 million, accounting for 3.62% of its trading volume [2] - Jin Jiang Hotel had a main fund net inflow of 304.15 thousand, representing 0.83% of its trading volume [2] - Tongqing Lou saw a main fund net inflow of 228.29 thousand, accounting for 1.66% of its trading volume [2]

Core Insights - The economic hotel sector, previously overshadowed by mid-to-high-end and luxury hotels, is experiencing renewed interest and activity in 2023 [1] - Economic hotels are increasingly favored by diverse user groups, including job-seeking graduates, leisure travelers, and business travelers, due to their affordability and convenience [5][11] Group 1: Economic Hotel Demand - Young job seekers are utilizing economic hotels like Qinghe Yizhan for affordable accommodation during job hunts, with offerings such as free stays for applicants [2] - Travelers are returning to clean and budget-friendly economic hotels, with prices typically ranging from 300 to 400 yuan per night, highlighting their value proposition [3] - Corporate travel expenses are decreasing, with companies tightening budgets and opting for economic hotels as a cost-saving measure [4] Group 2: Hotel Brand Strategies - Hanting has positioned itself as a national brand with a focus on cleanliness and comfort, boasting over 359,475 rooms, making it the largest hotel brand globally [6][11] - Shangkeyou targets lower-tier cities, emphasizing cost reduction and affordability, with an average room price around 170 yuan [8] - City Convenience Hotel balances mid-range experiences with economic pricing, achieving a 20% reduction in construction costs while maintaining quality [9] Group 3: Market Trends and Statistics - Economic hotels account for 40% to 55% of major hotel groups' portfolios, serving as a stable revenue source [11] - As of 2023, over 70% of the accommodation market is in the mid-to-low-end segment, with economic hotels comprising over 40% of this category [11] - The chain hotel rate for economic hotels is only 29.96%, indicating significant room for growth in the market [11][16] Group 4: Digital Transformation and Brand Influence - The shift towards digitalization in hotel operations is crucial for enhancing supply chain efficiency and customer experience [14][15] - Brand influence remains a key factor in the economic hotel sector, with established brands like Hanting and Jinjiang leading the market [17] - The economic hotel segment is seen as a testing ground for hotel groups to innovate and adapt to market demands, ensuring resilience in fluctuating market conditions [18]

Core Insights - Jinjiang Hotels is expanding into Southeast Asia, driven by the region's large population and growth opportunities, while also recognizing the complexities of international operations [1][3][5] - The company aims to integrate into local tourism markets rather than merely pursuing rapid expansion and short-term profits [2][10] - Jinjiang has prior experience in international markets, having previously entered the Philippines and South Korea, and is now focusing on building a capable team for scaling operations in Southeast Asia [3][4][6] Market Opportunities - Southeast Asia is a mature tourism destination, with Malaysia receiving over 25 million international visitors last year and aiming for 35.6 million by 2026 [3][5] - Vietnam has seen a 22.5% increase in international visitors in the first seven months of this year, with a significant portion coming from mainland China [3][5] - The geographical proximity and cultural ties between China and Southeast Asia provide a favorable environment for Jinjiang's expansion [5][6] Strategic Approach - Jinjiang plans to establish a mixed team of 20% expatriates and 80% local hires to ensure effective communication and operational efficiency [6][10] - The company is focused on building a strong local team and adapting its operational standards to meet local market needs while maintaining quality [9][10] - Jinjiang's strategy includes leveraging its existing customer base and loyalty programs to attract both local and international guests [10][12] Brand Development - The company intends to introduce multiple brands, including Jinjiang Metropolo, Lavande, and Jinjiang Inn, to cater to different market segments in Southeast Asia [9][10] - Jinjiang is committed to a gradual approach, prioritizing quality and brand recognition over rapid expansion [10][12] - The company aims to create a positive feedback loop by activating local consumer bases and enhancing membership through localized operations [10][12] Team and Leadership - The leadership team, including Zhang Zhonghao, has extensive experience in building brands and navigating market challenges, which is crucial for the success of the Southeast Asia initiative [12][13] - The company emphasizes the importance of cultural integration and support for local teams to overcome operational challenges [11][12]

Core Insights - Jinjiang Hotels is expanding into Southeast Asia, driven by the region's large population, developmental gaps, and cultural proximity, marking a significant opportunity for domestic brands [2][3][4] - The company emphasizes a strategic approach to overseas expansion, focusing on building a local team and adapting to the regional market while avoiding short-term profit pressures [2][10][18] - Jinjiang has a history of international operations, having previously entered markets like the Philippines and South Korea, which provides a foundation for its current expansion efforts [3][4][15] Market Opportunities - Southeast Asia is a mature tourism destination, with Malaysia expecting to receive 35.6 million international tourists by 2026, and Vietnam seeing a 22.5% increase in international visitors in the first seven months of this year [3][4] - The company plans to establish a presence in multiple Southeast Asian countries, including Malaysia, Indonesia, Laos, Vietnam, Cambodia, and the Philippines, with a focus on key urban areas and established properties [15][16] Strategic Approach - Jinjiang is adopting a light-asset model for its overseas operations, collaborating with local partners to navigate the market effectively [7][10] - The company aims to create a mixed team of 20% expatriates and 80% local hires to ensure smooth operations and cultural integration [10][13] - A focus on long-term brand establishment and local consumer engagement is prioritized over immediate financial returns [17][18] Operational Plans - The first project under Jinjiang's Southeast Asia strategy is the Jinjiang Duzhou hotel in Laos, set to open in January next year, with plans for a hotel in Malaysia's Kuala Lumpur to follow [11][13] - Jinjiang is establishing subsidiaries in each target market to manage local operations, ensuring that standards are met while adapting to local conditions [13][14] Customer Engagement - The company recognizes the importance of activating local consumer bases while leveraging its existing membership platforms to attract both domestic and international travelers [16][17] - Jinjiang aims to create a positive feedback loop by enhancing local membership and integrating its services into the Southeast Asian market [17][18]

Market Overview - On August 21, the hotel and catering sector rose by 0.07% compared to the previous trading day, with Huazhong Hotel leading the gains [1] - The Shanghai Composite Index closed at 3771.1, up 0.13%, while the Shenzhen Component Index closed at 11919.76, down 0.06% [1] Individual Stock Performance - Huazhong Hotel (code: 000428) closed at 3.61, up 1.40% with a trading volume of 387,800 shares and a transaction value of 139 million [1] - Junting Hotel (code: 301073) closed at 24.68, up 1.36% with a trading volume of 142,900 shares and a transaction value of 352 million [1] - Jinjiang Hotel (code: 600754) closed at 23.39, up 1.34% with a trading volume of 184,000 shares and a transaction value of 428 million [1] - Other notable performances include Jining Hotel (code: 601007) with a slight increase of 0.13% and Xian Catering (code: 000721) down by 0.20% [1] Capital Flow Analysis - The hotel and catering sector experienced a net outflow of 91.614 million from institutional investors and 59.3465 million from speculative funds, while retail investors saw a net inflow of 151 million [1] - Jinjiang Hotel had a net inflow of 36.1067 million from institutional investors, while it faced a net outflow of 13.1479 million from speculative funds [2] - Xian Catering saw a net outflow of 10.3595 million from institutional investors but a net inflow of 72.7358 million from retail investors [2]

在成本控制方面，公司通过精细化管理取得了显著成效。依托集中采购优势，有效降低了物资采购成 本，同时通过能源管理系统的优化，减少了不必要的能源消耗。通过优化资源配置和提升工作效率，实 现了运营成本的合理管控，保障了企业的盈利能力。 服务创新是锦江酒店全年工作的重点之一。2024年，公司推出了多项特色服务举措，旨在提升客户的入 住体验。例如，在部分门店引入智能客控系统，让客人能够通过手机便捷控制房间内的设备；优化餐饮 服务，结合地方特色推出个性化餐食，满足不同客户的口味需求。这些举措得到了客户的广泛认可，提 升了品牌的美誉度。 数字化建设是锦江酒店提升运营效能的重要方向。公司持续优化官方数字化平台 WeHotel，作为整合预 订、会员服务的核心载体，通过不断完善功能模块，中央预订系统不断迭代，实现订单处理效率及客户 预订体验双提升，为业务开展提供坚实的技术支撑。同时，全球采购平台（GPP）的规模化应用持续深 化，通过数字化手段实现供应链协同，为门店运营提供高效支持。 锦江酒店 （600754.SH）作为国内酒店行业的重要力量，在复杂的市场环境中，始终坚守品质底线，通 过品牌结构优化、服务标准升级等举措，保持了企业 ...