Core Viewpoint - The company has announced its 2024 annual profit distribution plan, which includes a cash dividend of 1.5 RMB per 10 shares for all shareholders, subject to adjustments based on changes in total share capital [1][2]. Summary by Sections Profit Distribution Plan - The profit distribution plan was approved at the shareholders' meeting held on May 22, 2025, with a total share capital of 194,451,046 shares as the basis for the distribution [1]. - A cash dividend of 1.5 RMB (including tax) will be distributed for every 10 shares held, with adjustments made if the total share capital changes before the distribution [1]. Dividend Payment Details - The cash dividend will be distributed to all shareholders registered with the China Securities Depository and Clearing Corporation Limited, Shenzhen Branch, as of June 12, 2025 [2]. - The ex-dividend date is set for June 13, 2025 [1][2]. Taxation Information - Different tax rates apply for various categories of shareholders, including a 10% tax for Hong Kong investors holding fund shares and differentiated rates for mainland investors [1]. - The company will not withhold individual income tax at the time of distribution; instead, it will be calculated based on the holding period when shares are sold [1]. Additional Information - The company has provided contact details for inquiries regarding the dividend distribution, including phone numbers and a physical address [3].

证券代码：301073 证券简称：君亭酒店 公告编号：2025-017 3、本次实施的分配方案与股东大会审议通过的分配方案及其调整原则一致。 1、2025 年 5 月 22 日，公司 2024 年年度股东大会审议通过了《关于公司 2024 年度利润分配预案的议案》，具体方案如下：以公司现有总股本 194,451,046 股 为基数，向全体股东按每 10 股派发现金股利 1.5 元（含税），共分配现金股利 29,167,656.9 元（含税），本年度不送红股，不以资本公积金转增股本。在利润 分配方案实施前，公司总股本如发生变化，将按照分配总额不变的原则对分配比 例进行相应调整。 2、自分配方案披露至实施期间，公司股本总额未发生变化。 君亭酒店集团股份有限公司（以下简称"公司"）2024 年年度权益分派方案 已获 2025 年 5 月 22 日召开的 2024 年年度股东大会审议通过，现将权益分派事 宜公告如下： 一、股东大会审议通过利润分配方案情况 君亭酒店集团股份有限公司 2024 年年度权益分派实施公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 4、本 ...

Investment Rating - The investment rating for Junting Hotel is not explicitly stated in the provided documents, but the report indicates a positive outlook on the company's strategic partnership and growth potential [1]. Core Insights - Junting Hotel Group has entered a strategic partnership with Choice Hotels International, acquiring exclusive brand usage and franchise rights for the Comfort and Quality hotel brands in mainland China [1][2]. - The partnership allows Junting to leverage Choice Hotels' global distribution channels, enhancing its marketing and sales capabilities while expanding its brand portfolio [2]. - The company is transitioning to a light-asset rapid expansion model, focusing on the mid-to-high-end hotel market, which is expected to drive growth and improve operational efficiency [2]. - The report highlights the increasing demand for inbound tourism in China, with significant growth in hotel searches and bookings, positioning Junting to attract international guests through the partnership [3]. - Profit forecasts indicate a steady increase in net profit for the years 2024 to 2026, with projected figures of 70 million, 99 million, and 151 million yuan respectively, reflecting a positive growth trajectory [3]. Summary by Sections Strategic Partnership - Junting Hotel has secured exclusive rights to operate Comfort and Quality brands in China, which are well-established globally with over 2,100 and 2,000 operating hotels respectively [2]. - The partnership is expected to enhance Junting's competitive position in the mid-to-high-end hotel market against leading international brands [2]. Market Expansion - The report notes a surge in inbound tourism, with a 130% year-on-year increase in orders during the May Day holiday, indicating a strong recovery and interest in travel to China [3]. - Junting's collaboration with Choice Hotels is anticipated to create a member cooperation mechanism, enhancing access to international customer bases [3]. Financial Projections - The projected net profits for Junting Hotel from 2024 to 2026 are 70 million, 99 million, and 151 million yuan, with corresponding price-to-earnings ratios of 59, 42, and 27 times [3]. - The company is evolving from a traditional hotel group to an asset management group, aiming to lead industry innovation and transformation [3].

Investment Rating - The investment rating for Junting Hotel is not explicitly stated in the provided documents, but the report indicates a positive outlook on the company's strategic partnership and growth potential [1]. Core Viewpoints - Junting Hotel Group has entered a strategic partnership with Choice Hotels International, acquiring exclusive brand usage and franchise rights for the Comfort and Quality hotel brands in mainland China. This partnership allows Junting to leverage Choice's global distribution channels and marketing services [1][2]. - The Comfort brand has over 2,100 operating hotels and more than 170,000 rooms globally, while the Quality brand has over 2,000 operating hotels and more than 160,000 rooms. These brands are expected to compete effectively in the mid-to-high-end hotel market in China [2]. - The company is transitioning to a light-asset rapid expansion model, focusing on the mid-to-high-end hotel market through a joint venture, Junxing Hotel Management, which will initiate a franchise model [2]. - The strategic partnership is anticipated to enhance international customer acquisition, especially with the increasing popularity of inbound tourism in China, supported by favorable policies and a growing number of international travelers [3]. - Profit forecasts indicate that the net profit attributable to the parent company for 2024, 2025, and 2026 is expected to be 70 million, 99 million, and 151 million respectively, with corresponding price-to-earnings ratios of 59, 42, and 27 times [3]. Summary by Sections Strategic Partnership - Junting Hotel has secured exclusive rights for the Comfort and Quality brands in China, enhancing its market position and operational capabilities [1][2]. Market Position and Brand Strength - The Comfort and Quality brands are well-established globally, with significant numbers of operating hotels and rooms, positioning Junting to compete in the mid-to-high-end market [2]. Business Model Transition - The company is shifting towards a light-asset model and expanding through franchising, which is expected to accelerate growth and improve operational efficiency [2]. Inbound Tourism Potential - The strategic partnership is expected to capitalize on the rising trend of inbound tourism, with initiatives to attract international customers through membership collaboration [3]. Financial Projections - The financial outlook shows a steady increase in net profit over the next three years, indicating strong growth potential for the company [3].

Core Viewpoint - The partnership between Junting Hotels and Choice Hotels marks a significant shift for Junting as it moves away from its "small and beautiful" image towards a light-asset and scalable development model [1][2] Group 1: Partnership Details - Junting Hotels has entered into a long-term exclusive franchise agreement with Choice Hotels for the brands COMFORT™ and QUALITY™ in mainland China, lasting until 2045 [1] - Choice Hotels, despite having 7,500 hotels and approximately 650,000 rooms globally, has a limited presence in China, with its first hotel opening in 2002 [1][2] Group 2: Market Context - Major international hotel groups like InterContinental, Marriott, and Hilton have already established a strong presence in China, with over 500 new hotels opening in 2024 alone, totaling more than 4,500 hotels [2] - Wyndham Hotels, another franchise giant, has over 1,600 locations in China, highlighting the competitive landscape [2] Group 3: Strategic Implications - The collaboration allows Junting to overcome its expansion limitations while providing Choice Hotels with local market expertise to mitigate risks [2][3] - The partnership is seen as a "resource exchange," where Junting can leverage Choice Hotels' global network to transition from a regional brand to an international player [2] Group 4: Challenges Ahead - The partnership faces challenges due to the late entry of Choice Hotels into the Chinese market, requiring Junting to focus on localized operations to compete with established local brands [3] - Junting is under pressure to meet specific targets for opening and operating a designated number of hotels, with potential penalties for failing to do so [3] Group 5: Lessons from Success - The success of Hilton's HUALUXE brand serves as a valuable case study for mixed brands, demonstrating the importance of aligning with local consumer needs [5]

Investment Rating - Industry rating: Recommended [4] Core Insights - The report highlights a robust growth in visitor numbers during the Dragon Boat Festival, with a projected total of 6.87 billion trips, reflecting a year-on-year increase of 3.0% [1][18] - The demand for family-oriented travel has surged, particularly for short-distance self-driving trips and parent-child tours, with bookings for parent-child group tours increasing by 80% year-on-year [1][2] - The launch of new products by Lao Pu Gold, such as the Seven Sons Gourd, is expected to drive high demand in the fashion gold jewelry sector, despite a tightening overall consumption environment [2] Summary by Sections 1. Market Review - The consumer service index and retail index outperformed the CSI 300 index, with significant gains in the jewelry and watch sector [11] - The report notes a 5.1% year-on-year increase in total retail sales in April, with jewelry sales growing by 25.3% [36][50] 2. Industry & Company Dynamics - The report discusses the increase in domestic tourism, with various regions reporting significant visitor numbers during the holiday period [18][19] - Lao Pu Gold's new product launch is positioned to capture the growing trend in fashion jewelry, appealing to consumer sentiment and aesthetic preferences [2][3] 3. Macro & Industry Data - April's retail sales data indicates a stable growth trajectory, with online retail sales showing a 5.8% year-on-year increase [37] - The report provides insights into the gold jewelry market, noting a decline in overall gold consumption but an increase in gold bars and coins [52][55] 4. Investment Recommendations - The report suggests five investment themes, including the revival of traditional retail formats, the rise of AI technology applications, and the potential for new retail sectors to outperform expectations [59][61]

Group 1 - Ctrip's report indicates that during the Dragon Boat Festival in 2025, domestic surrounding and local travel will account for 64% of total travel [1] - Family-oriented travel is becoming the main force for the Dragon Boat Festival, with nearly 90% of the top 50 scenic spots being family-friendly, and family orders making up 25% of overall travel orders [1] - There is a significant increase in inbound travel, with orders rising by nearly 90% and ticket GMV for inbound travel soaring 1.5 times year-on-year [1] Group 2 - Wanlian Securities highlights that various sectors in the service industry are experiencing growth opportunities this year, driven by the implementation and optimization of vacation policies [1] - The expansion of inbound consumption is expected to bring new growth points to the duty-free industry, while the improvement of county-level commercial systems benefits the hotel and chain restaurant sectors [1] - The education sector is anticipated to become a representative application area for artificial intelligence, with a focus on tourism, duty-free, hotels, restaurants, and education leaders [1] Group 3 - Dongguan Securities notes that the tourism and travel sector is seeing a steady increase in per capita consumption during holidays, which may help reverse the "busy but not profitable" situation [2] - The combination of domestic demand expansion policies and the continuous rise in outbound travel is expected to support the bottom recovery of the tourism and travel sector in the long term [2] - Recommended stocks include Songcheng Performance, Changbai Mountain, Xiangyuan Cultural Tourism, Zhongxin Tourism, Shoulu Hotel, Junting Hotel, and Tongqinglou, focusing on scenic area companies, hotel groups in lower-tier markets, and tourism service companies benefiting from domestic and inbound travel recovery [2]

Group 1 - Guangdian Electric's wholly-owned subsidiary plans to sell 5.91% stake in Shanghai Winshun Electric Technology Co., Ltd. to Yapp Automotive Parts Co., Ltd. for 62.63 million yuan, aiming to optimize asset structure [1] - Anhui Natural Gas received approval for the registration of 500 million yuan short-term financing bonds and 600 million yuan medium-term notes, valid for two years [1] - Kirin Security received government subsidies totaling 6.48 million yuan, which are related to revenue [2] Group 2 - Junshi Biosciences received approval for two new indications for its self-developed drug, Oncorhynchus monoclonal antibody injection, targeting adult patients with heterozygous familial hypercholesterolemia and non-familial hypercholesterolemia [3] - China Resources Double Crane's subsidiary passed GMP compliance inspection for small and large volume injection production lines [4] - Nanjing Public Utilities' board approved the absorption and merger of its wholly-owned subsidiary, Nanjing Jinguang Industry Co., Ltd. [7] Group 3 - Boya Bio received drug registration certificate for human immunoglobulin (pH4) in the Dominican Republic, valid until August 12, 2029 [8] - Jizhi Co. announced that its controlling shareholder and actual controller committed not to reduce their shareholdings until December 31, 2025 [9] - Yuhua Tian won a bid for the integrated urban management project in Lanzhou City, with a total service subsidy of 353 million yuan [10] Group 4 - Anke Rui obtained five invention patent certificates related to various energy management and control technologies [11] - Kebo Da's wholly-owned subsidiary plans to acquire 100% of Czech IMI Company for approximately 9.43 million euros to enhance global production layout [13] - Yantian Port announced a cash dividend of 1.30 yuan per 10 shares, totaling 676 million yuan [14] Group 5 - Huawang Technology plans to distribute a cash dividend of 0.45 yuan per share and a capital reserve increase of 0.20 shares per share [15] - Kabe Yi established a wholly-owned subsidiary in Japan to enhance its business layout [16] - Dongcheng Pharmaceutical's subsidiary received approval for the marketing of sodium fluoride injection, a PET radiopharmaceutical [18] Group 6 - Huaxin New Materials' subsidiary received two utility model patent certificates for innovative devices [19] - Lingang Steel's new 2290 cubic meter blast furnace has been successfully put into operation [21] - Xinlitai received drug registration certificate for Sacubitril/Valsartan tablets, the first of its kind in China [23] Group 7 - Aike Co.'s subsidiary received project designation notices from multiple clients for electric drive platform components [25] - Tonghe Pharmaceutical received drug registration certificate for Apixaban in South Korea [26] - Junting Hotel signed a cooperation agreement with Choice Hotels for exclusive brand usage in mainland China [28] Group 8 - Guangdong Hongtu plans to establish a wholly-owned subsidiary in Zhengzhou to enhance market layout [30] - Yuheng Pharmaceutical signed a joint promotion agreement for Pemafibrate tablets with Xinghe Pharmaceutical [31] - Chongqing Steel terminated the absorption and merger of its wholly-owned subsidiary, citing strategic advantages of independent operation [33] Group 9 - Jihong Co. announced the listing of its H-shares on the Hong Kong Stock Exchange [34] - Deshi Co. announced plans for shareholders to reduce their holdings by up to 0.3% [36] - Xinhai Medical's subsidiary received medical device registration for a dialysis fluid filter [42]

Core Viewpoint - Junting Hotel has signed a comprehensive franchise and distribution cooperation agreement with Choice Hotels Licensing, a wholly-owned subsidiary of Choice Hotels International, granting exclusive rights to use and franchise the COMFORT and QUALITY hotel brands in mainland China until December 31, 2045 [1] Group 1 - The development period of the agreement is from the effective date of the contract until December 31, 2045 [1] - Junting Hotel will integrate its first 68 hotels into Choice's global distribution channels, including Choice's website and mobile applications [1] - The agreement allows Junting Hotel to utilize distribution services provided by Choice Hotels [1]

证券代码：301073 证券简称：君亭酒店 公告编号：2025-016 君亭酒店集团股份有限公司 关于与 Choice Hotels Licensing B.V. 签订总特许经营及分销相关合作协议的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1、君亭酒店集团股份有限公司（以下简称"公司"或"君亭酒店"）与精 选国际酒店集团（英文名：CHOICE HOTELS INTERNATIONAL, INC.，纽约证 券交易所代码：CHH，以下简称"精选国际"）全资子公司 Choice Hotels Licensing, B.V.（以下简称"Choice"）签署了总特许经营及分销相关合作协议，公司取得 Choice 旗下的 COMFORT（凯富）和 QUALITY（凯艺）两大酒店品牌系列在中 国大陆地区的独占品牌使用和特许经营权。另君亭旗下首批 68 家酒店接入 Choice 的全球分销渠道，包括 Choice 的网站及移动应用程序，并接受 Choice 提 供的分销服务（包括销售、营销、分销和预订服务和权利）。 2、协议的重大风险及重大不确定性：如 ...