（二）公司董事会薪酬与考核委员会对本次激励对象的核查方式 公司董事会薪酬与考核委员会核查了本激励计划拟预留授予激励对象的名 单、身份证件、激励对象与公司签订的劳动合同。 上海锦江国际酒店股份有限公司 董事会薪酬与考核委员会关于 2024 年限制性股票激励计划 预留授予激励对象名单的公示情况说明及核查意见 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》")、《上海证券交易所股票上市规则》、 《上市公司股权激励管理办法》（以下简称"《管理办法》"）、《国有控股上 市公司（境内）实施股权激励试行办法》（以下简称"《试行办法》"）、《关 于规范国有控股上市公司实施股权激励制度有关问题的通知》等有关法律、法规 及规范性文件以及《上海锦江国际酒店股份有限公司章程》（以下简称"《公司 章程》"）、《上海锦江国际酒店股份有限公司 2024 年限制性股票激励计划（草 案）》（以下简称"《激励计划》"）的规定，上海锦江国际酒店股份有限公司 （以下简称"公司"）对 2024 年限制性股票激励计划（以下简称"本激励计划"） 拟预留授予激励对象名单在公司内部进行了公示。公司董事 ...

Investment Rating - The industry is rated as "Market Perform" [31] Core Insights - The consumer service industry index experienced a decline of 2.17% from July 25 to August 7, 2025, underperforming the CSI 300 index by approximately 1.35 percentage points, primarily due to adverse weather conditions affecting travel data and declining performance in some companies' semi-annual reports [7][8] - In the first half of 2025, the total number of domestic trips reached 3.285 billion, a year-on-year increase of 20.6%, with total spending of 3.15 trillion yuan, up 15.2% [22] - Recent heavy rainfall has led to the temporary closure of several tourist attractions, impacting the tourism and hotel sectors [23] - Positive policy signals have emerged, including subsidies for childbirth and reductions in childcare fees, indicating potential future support for consumption and fertility [31] Summary by Sections Market Review - The consumer service index has shown a decline, with significant underperformance compared to the CSI 300 index [7] - The tourism and hotel sectors have been particularly affected by recent heavy rainfall, while the education sector has seen an uptick due to supportive policies [8] Industry News - The South Korean government will implement a temporary visa exemption for Chinese group tourists starting September 29, 2025, which has led to a surge in travel searches [20] - The introduction of a new membership system by Taobao integrates various services, enhancing travel-related benefits for users [21] Company Announcements - Action Education proposed a mid-year dividend distribution of 10 yuan per 10 shares [24] - Huangshan Tourism plans to invest in a new subsidiary and participate in a land bidding process [25] - China Duty Free Group reported a decline in revenue and net profit for the first half of 2025, but maintained a strong market position in Hainan [29] Weekly Outlook - The report suggests focusing on companies that may benefit from the current market conditions, including China Duty Free Group, Jinjiang Hotels, and others in the cyclical sectors [31][32]

| 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 002186 | 全聚德 | 1192.39万 | 7.65% | 222.23万 | 1.43% | -1414.62万 | -9.08% | | 301073 君享酒店 | | 1087.59万 | 6.59% | 42.21万 | 0.26% | -1129.81万 | -6.85% | | 600258 | 首旅酒店 | 770.43万 | 5.19% | -564.57万 | -3.80% | -205.86万 | -1.39% | | 600754 | 锦江酒店 | -14.16万 | -0.13% | 238.93万 | 2.20% | -224.76万 | -2.07% | | 601007 | 全陵饭店 | -73.45万 | -1.06% | 96.33万 | 1.39% | -22.88万 | -0.33% | | 605108 | 同庆楼 | ...

Core Viewpoint - The hotel industry is facing intense competition and is at a critical juncture where transformation is necessary for survival, leading to the emergence of street food stalls by luxury hotels as a new revenue stream [4][5][8]. Group 1: Industry Challenges - The hotel industry is experiencing oversupply, with major hotel groups rapidly expanding their presence, leading to a situation where more hotels are competing for fewer customers [5][8]. - Key performance indicators for major hotel chains have declined, with Jinjiang Hotels reporting a 5.78% drop in RevPAR and a 11.19 yuan decrease in ADR [5][7]. - The high-end hotel sector has seen a significant reduction in revenue from dining services, which were previously a major income source, as traditional banquet bookings have decreased [6][8]. Group 2: Transformation Strategies - Hotels are increasingly adopting street food stalls as a strategy to diversify income and attract customers, leveraging their brand reputation and supply chain advantages [9][12]. - The average daily revenue from these street food operations ranges from 10,000 to 60,000 yuan, indicating a potential but limited revenue source compared to traditional banquet services [11]. - The shift towards street food is seen as a temporary measure to generate additional revenue while hotels continue to focus on their core business of meetings and banquets [12][13]. Group 3: Consumer Perception and Market Response - Consumers appreciate the hygiene and quality associated with food from luxury hotels, which is a significant advantage over traditional street vendors [9][11]. - There are concerns regarding food safety and the sustainability of outdoor food stalls, prompting hotels to consider indoor setups and delivery options to enhance customer experience [11][12]. - Regulatory support is emerging to facilitate outdoor operations, indicating a potential for the "outdoor economy" to become a more structured part of the hotel industry [12][13].

早晨七点，广州淘金地铁站出口处，已经摆出了一列热气腾腾的早餐摊。其中有一家摊位格外引人注目，"白云宾馆 五星外卖"的牌子上罗列着众多价格在个位数的餐点，4元一只的生肉包、5元一条的广式油条，8元一份的皮蛋瘦肉 粥，这就是广州老牌五星级酒店——白云宾馆的早餐外摆摊。 虽然标明的营业时间是早上7：30-9：30，但据现场的营业人员介绍，早餐摊的餐点常常在8:50之前就能卖光，9:00就 可以开始提前收摊了，生意非常火爆。 这样的场景不仅在广州出现。上海，位于陆家嘴的金陵紫金山大酒店，也在工作日的晚上办起了"社区食堂"，售卖的 菜品价格亲民，如5元1个的金陵大肉包，20元2只的红烧狮子头，还有老上海熏鱼、毛蟹年糕等家常菜；太原，山西 大酒店每天下午5点准时推车出摊，熟食、西点，几十种美食现做现卖；长沙梅溪湖畔，金茂豪华酒店摆摊买卤味， 还准备上线外卖平台。 不少网友表示"这下终于能够实现五星酒店自由了"，但也有酒店从业者说"摆摊的收入只是杯水车薪"。从云端到路 边，酒店们为何争相"放下身段"，靠路边摊获利？ 转型是必走之路 酒店行业的竞争愈发激烈，这是行业内公认的事实。在采访中，有不少酒店从业者向21世纪经济报道记 ...

Core Viewpoint - The domestic hotel industry is experiencing a paradox where, despite a booming tourism market in 2024, hotel profitability is declining due to increased competition and cost pressures, leading to a decrease in key performance metrics such as RevPAR, ADR, and occupancy rates [1][4][6]. Industry Overview - The domestic tourism market is thriving, with significant increases in travel volume and spending, yet the hotel industry is facing challenges with declining revenue per available room (RevPAR) across all hotel tiers [3][4]. - In 2023, the hotel industry transitioned from a high base to a normalized state, with many companies struggling due to intense competition and rising costs [6]. Financial Performance - Major hotel chains like Huazhu Group reported a revenue of 23.89 billion yuan, with a net profit of 3.048 billion yuan, reflecting a year-on-year revenue growth of 9.18% but a profit decline of 25.39% [7]. - RevPAR for Huazhu was 235 yuan, with an average daily rate (ADR) of 289 yuan, both showing declines of 3% and 3.2% respectively, while occupancy rate (OCC) slightly increased to 81.2% [8]. - Other hotel brands also reported similar declines in RevPAR and ADR, indicating a widespread trend across the industry [8]. Market Dynamics - The hotel market is shifting towards a supply-demand imbalance, with the number of hotels exceeding pre-pandemic levels while tourism numbers remain below 2019 figures [15]. - The total number of hotels in China surpassed 360,000 in 2024, representing 109% of the 2019 hotel count, while domestic tourism was only at 90% of 2019 levels [15]. Expansion Strategies - Despite the challenging environment, hotel companies continue to expand aggressively, with Huazhu Group planning to open 2,300 new hotels in 2025, maintaining a strong growth trajectory [13]. - Huazhu's expansion strategy focuses on a franchise and licensing model, with over 90% of new hotels opened under these models, allowing for a lighter asset operation [14]. - Other hotel chains like Jinjiang and Shoulv also reported significant new openings, indicating a competitive push for market share [12]. Emerging Trends - The hotel industry is increasingly targeting lower-tier cities for growth, as these areas show potential for higher revenue due to rising disposable incomes [15]. - The shift from a seller's market to a buyer's market is evident, with high-end hotels being put up for sale and increased competition leading to price reductions in hotel supplies [16]. Challenges and Risks - The rapid expansion of hotel chains may lead to intensified price wars and further pressure on profitability, as evidenced by declining ADR and RevPAR across the board [15]. - Companies like Atour are also diversifying into retail, with significant revenue from products like sleep pillows, but face increasing competition from other brands entering the retail space [20].

2024年，国内旅游市场一片火爆，车票、景区一票难求，酒店行业挣钱却越来越难，每房收益、日均房价以及入住率，均呈现全线下降趋势。 即便如此，酒店企业的扩张并没有停止。今年以来，4家上市连锁酒店企业均披露了新开酒店计划。 当下的市场格局已然形成，华住、锦江双雄争霸，亚朵集团直追首旅酒店。日前，市场传言亚朵集团正在考虑登陆港股，预计募资数亿美元。 存量时代，酒店们的压力更大了。 酒店们挣钱难了 2024年，国内旅游行业爆火，几乎每个大型节假日，交通拥堵成为常态，景区人挤人，酒店一房难求。无论是旅游人次，还是支出，均呈现两位数增长。 不过，酒店全行业经营状况有所承压。 据酒店之家数据，去年，全国各档次酒店RevPAR（每房收益）均在回调。其中，经济型酒店、中档酒店、高档及豪华型酒店，分别为87元、140元、182 元和334元，同比分别下降7.0%、10.2%、15.0%和16.3%。 价格明显承压的状况，主要出现在第二、三季度，仍受上年高基数的影响。去年第四季度，在相关利好政策影响之下，RevPAR才进一步回升。 去年，国内酒店业逐渐由2023年高基数走向常态，受白热化竞争及成本压力影响，多数企业表现欠佳。 华住 ...

Core Viewpoint - The tourism industry is experiencing a shift from growth to efficiency, where companies must enhance cost, structure, and scenario effectiveness to convert competitors' declines into their own gains [1] Duty-Free Industry - China Duty Free Group (中国中免) reported a net profit of 259,324.91 thousand yuan for the first half of 2025, a significant decrease of 6.4% from 323,770.03 thousand yuan in the same period last year [7] - The decline is attributed to pressures on Hainan's offshore duty-free sales, outbound consumption diversion, and intensified market competition [7] - Despite challenges, China Duty Free's market share increased by nearly 1 percentage point year-on-year, and inventory turnover improved by 10% [7] Hotel Industry - Jin Jiang Hotels (锦江酒店) expects a net profit of 39,000 to 41,000 thousand yuan for the first half of 2025, showing slight growth from 38,851.52 thousand yuan year-on-year [10] - The growth is driven by a light-asset operation model that effectively reduced cost pressures, despite the absence of similar revenue items as in the previous year [10] - In contrast, Nanjing Tourism (南京商旅) anticipates a net profit of 550 to 850 thousand yuan, a notable decline from 1,028.37 thousand yuan, primarily due to underperformance in its tourism service segments [10] Airline Industry - Major state-owned airlines, including China Southern Airlines, China Eastern Airlines, and Air China, are projected to incur losses ranging from 175,400 thousand to 240,000 thousand yuan, 160,000 thousand to 210,000 thousand yuan, and 180,000 thousand to 240,000 thousand yuan respectively, although losses are narrowing compared to the previous year [11] - The losses are attributed to imbalances in market supply, a downward shift in customer demographics, competition from high-speed rail, and uncertainties in the international environment [11] - Conversely, Huaxia Airlines (华夏航空) expects a profit of 20,000 to 28,000 thousand yuan, a significant increase from 1,255.50 thousand yuan, benefiting from improved demand in civil aviation and optimized route structures [11] Regional Tourism - Qinhuai Scenic Area (秦淮风光) reported a net profit of 4,299.41 thousand yuan, down from 5,037.84 thousand yuan, due to decreased consumer spending and visitor numbers [14] - Daming Cruises (大美游轮) achieved a net profit of 2,454.81 thousand yuan, slightly down from 2,850.74 thousand yuan, with operational metrics showing stable performance despite minor declines in average ticket prices and hotel occupancy rates [15] - Tengxuan Tourism (腾轩旅游) reported a loss of 523.59 thousand yuan, nearly unchanged from the previous year's loss, impacted by reduced income from air freight and domestic ticket commissions [15] Hong Kong Tourism - Hong Kong China Travel Service (香港中旅) reported a loss of 0.70 billion HKD, a reversal from a profit of 0.63 billion HKD, primarily due to investment property impairments [16] - Despite a 12% increase in total visitors to Hong Kong, the company faces challenges from reduced group tours and rising operational costs [16] Cultural and Sports Equipment - Dafen Industrial (大丰实业) expects a net profit of 6,423 to 7,252 thousand yuan, a significant increase from 4,144.08 thousand yuan, driven by strong demand for technology solutions in cultural and tourism sectors [17]

金融界8月6日消息，有投资者在互动平台向锦江酒店提问：您好！请问去港股融资主要是为了哪几个方 面？谢谢！ 公司回答表示：尊敬的投资者，您好!为深入推进公司的全球化战略，加强与境外资本市场对接，进一 步提升公司治理透明度和规范化水平，公司拟于境外发行股份（H股）并在香港联合交易所有限公司主 板挂牌上市。本次发行H股上市股票募集资金在扣除相关发行费用后将用于（包括但不限于）进一步加 强及拓展海外业务，并实现整体资产价值升值；海外整体数字化转型；偿还银行贷款及补充营运资金 等，有助于推进公司国际化业务布局，增强公司综合竞争力，促进公司高质量发展。感谢您对公司的关 注!祝您生活愉快! 本文源自：金融界 作者：公告君 ...

格隆汇8月6日丨锦江酒店(600754.SH)在互动平台表示，截至目前，公司在西藏自治区林芝市墨脱县已 布局多个品牌酒店，包括7天、维也纳国际、锦江都城、锦江之星等，部分门店已投入运营，部分仍在 建设推进中，覆盖经济型与中端细分市场。 公司将持续关注区域基础设施建设及文旅发展情况，结合 自身品牌战略及市场评估，适时拓展相关业务。 ...