Core Viewpoint - The control change of Junting Hotel (301073.SZ) has made significant progress, with the actual controller Wu Qiyuan planning to transfer control to Hubei Cultural Tourism Group, potentially involving a total transaction amount close to 1.8 billion yuan [1][4]. Company Overview - Junting Hotel, a mid-to-high-end hotel brand, has faced continuous operational pressure since its listing in 2021, leading to the decision for a control change [3][10]. - The company has shifted from a direct operation model to a franchise model to accelerate growth and adapt to industry challenges [16][20]. Acquisition Details - Hubei Cultural Tourism's acquisition plan includes three steps: 1. Agreement transfer at 25.71 yuan per share for 29.99% of shares, totaling approximately 1.499 billion yuan [4]. 2. The relinquishment of voting rights by Wu Qiyuan for an additional 10% of shares [4]. 3. A partial tender offer for 6.01% of shares at the same price, requiring around 300 million yuan [4]. Industry Context - The Chinese hotel industry is currently in a downturn, with mid-sized hotel brands struggling for survival, making Junting's control change a potential reference for similar brands [3][20]. - The hotel industry is experiencing a shift towards increased chain operations, with the chain rate for mid-to-high-end hotels reaching 65.2% in 2024 [21]. Strategic Implications - The acquisition is part of Hubei Cultural Tourism's strategy to strengthen its hotel management sector and expand its presence in the capital market [5][8]. - Junting Hotel aims to become one of the top three brands in the mid-to-high-end hotel sector within three years, targeting over 1,000 locations [18][20]. Financial Performance - Junting Hotel's revenue has shown growth from 342 million yuan in 2022 to 676 million yuan in 2024, but profit margins have declined, with net profits dropping from 36.91 million yuan at listing to 25.20 million yuan in 2024 [11][14]. - The company has faced challenges in expanding its direct hotel operations, leading to delays in planned openings [15]. Future Challenges - The transition to a franchise model presents challenges in maintaining brand quality and managing franchisee relationships, which could impact Junting's brand reputation [22][23]. - The competitive landscape is dominated by established players like Huazhu and Atour, making it difficult for Junting to catch up [19][23].

Group 1 - The core point of the news is that Hubei Cultural Tourism Group is acquiring a controlling stake in Junting Hotel, marking a significant move in the local state-owned asset management strategy [2][4][8] - Hubei Cultural Tourism Group plans to invest approximately 1.8 billion yuan to acquire 36% of Junting Hotel's shares, making it the controlling shareholder [2][4] - The acquisition is part of Hubei's broader strategy to enhance state-owned enterprises through the "Three Assets" reform, which focuses on resource assetization, asset securitization, and financial leverage [3][11] Group 2 - Junting Hotel has faced operational challenges, with a reported net profit of 9.9 million yuan for the first three quarters of 2025, a decline of 45.92% year-on-year [3][5] - Hubei Cultural Tourism Group aims to inject quality resources into Junting Hotel to improve its operational performance and address its ongoing investment capacity issues [3][5] - The acquisition aligns with Hubei Cultural Tourism's focus on becoming a leading enterprise in the cultural tourism sector, with an asset scale exceeding 100 billion yuan [3][6] Group 3 - Hubei state-owned enterprises have been actively acquiring control of listed companies, with several strategic acquisitions completed in recent years, including Tianfeng Securities and Shanghai Yashi [9][10] - The acquisitions are primarily focused on sectors aligned with the state-owned enterprises' core industries, such as cultural tourism, technology, and transportation [10][11] - The goal is to enhance the competitiveness and profitability of these enterprises by leveraging quality state-owned resources [11]

Core Points - Hubei Cultural Tourism Group (Hubei Wenlv) is acquiring a 36% stake in Junting Hotel, making it the controlling shareholder, with a total investment of approximately 1.8 billion yuan [1][3] - The acquisition is part of Hubei's broader strategy to enhance state-owned enterprises through "three capital" reforms, aiming to strengthen their market presence and operational capabilities [2][9] Group 1: Acquisition Details - Hubei Wenlv will acquire 58.32 million shares of Junting Hotel at a price of 25.71 yuan per share, totaling around 1.5 billion yuan, followed by a partial tender offer for an additional 11.6865 million shares [3][4] - After the completion of these transactions, Hubei Wenlv will hold 36% of Junting Hotel's shares, with the Hubei Provincial State-owned Assets Supervision and Administration Commission becoming the actual controller [3][6] Group 2: Financial Performance - Junting Hotel's net profit for the first three quarters of 2025 was 9.9033 million yuan, a decrease of 45.92% year-on-year, indicating challenges in profitability despite revenue growth [2][4] - The company's revenue from 2021 to 2024 showed consistent growth, increasing from 278 million yuan to 676 million yuan, but net profits did not follow the same trend, highlighting a "growth without profit" scenario [4][5] Group 3: Hubei Wenlv's Background - Hubei Wenlv, established in 2009, focuses on cultural tourism, sports health, and commercial trade, with assets exceeding 100 billion yuan [5][9] - The company aims to become a leading cultural tourism enterprise in China, leveraging its extensive asset base to enhance Junting Hotel's operational performance [5][9] Group 4: Broader Market Trends - Hubei's state-owned enterprises have been actively acquiring control of listed companies, with 15 companies currently under the actual control of the Hubei Provincial State-owned Assets Supervision and Administration Commission [2][7] - The acquisitions are aligned with Hubei's goal to increase the number of listed companies and improve the efficiency of state-owned assets through strategic mergers and acquisitions [9][10]

南财智讯12月4日电，君亭酒店公告，公司董事、董事会秘书、副总经理施晨宁通过协议转让方式减持 公司股份4,664,461股，占公司总股本的2.40%。本次权益变动后，施晨宁持有公司股份13,993,384股， 持股比例由9.60%降至7.20%。本次转让股份均为无限售流通股，不存在质押、冻结或其他权利限制。 施晨宁表示，截至报告签署日，尚无在未来12个月内增持公司股份的计划，但不排除继续减持的可能。 本次权益变动完成后，湖北文化旅游集团有限公司将成为公司控股股东，湖北省国资委将成为公司实际 控制人。若未来发生相关权益变动事项，信息披露义务人将依法履行信息披露义务。 ...

君亭酒店集团股份有限公司 详式权益变动报告书 上市公司名称：君亭酒店集团股份有限公司 股票上市地点：深圳证券交易所 股票简称： 君亭酒店 股票代码：301073 信息披露义务人：湖北文化旅游集团有限公司 住所：湖北省武汉市武昌区中北路86号汉街总部国际E座 通讯地址：湖北省武汉市武昌区中北路86号汉街总部国际E座 权益变动性质：股份增加 签署日期：2025 年 12 月 声 明 一、本报告书系根据《中华人民共和国公司法》《中华人民共和国证券法》 《上市公司收购管理办法》《公开发行证券的公司信息披露内容与格式准则第15 号——权益变动报告书》《公开发行证券的公司信息披露内容与格式准则第16 号——上市公司收购报告书》及其他相关法律、法规及部门规章的有关规定编写。 二、依据《中华人民共和国证券法》《上市公司收购管理办法》的规定，本 报告书已全面披露信息披露义务人在君亭酒店集团股份有限公司（以下简称"君 亭"或"上市公司"）中拥有权益的股份变动情况。截至本报告书签署日，除本 报告书披露的信息外，信息披露义务人没有通过任何其他方式增加或减少其在君 亭中拥有权益的股份。 三、信息披露义务人签署本报告书已获得必要的授权和 ...

上市公司名称：君亭酒店集团股份有限公司 股票上市地点：深圳证券交易所 股票简称： 君亭酒店 股票代码：301073 君亭酒店集团股份有限公司 简式权益变动报告书 信息披露义务人：从波 通讯地址：浙江省杭州市西湖区三墩紫宣路18号西投绿城·浙谷深蓝中心3号楼 12F 权益变动性质：股份减少 签署日期：2025 年 12 月 1 信息披露义务人声明 一、信息披露义务人依据《中华人民共和国证券法》（以下简称"《证券法》"）、 《上市公司收购管理办法》（以下简称"《收购办法》"）、《公开发行证券的 公司信息披露内容与格式准则第15号—权益变动报告书》（以下简称"《准则15 号》"）及相关的法律法规编写本报告书。 二、信息披露义务人签署本报告书已获得必要的授权和批准，其履行亦不违 反信息披露义务人《公司章程》或内部规则中的任何条款，或与之相冲突。 三、依据《证券法》《收购办法》《准则15号》的规定，本报告书已全面披 露了信息披露义务人在公司拥有权益的股份变动情况。截至本报告书签署之日， 除本报告书披露的信息外，信息披露义务人没有通过任何其他方式增加或减少在 公司中拥有权益的股份。 四、本次权益变动尚须取得国有资产监督管 ...

申港证券股份有限公司 关于 君亭酒店集团股份有限公司 详式权益变动报告书 之 财务顾问核查意见 财务顾问 二零二五年十二月 财务顾问声明 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司收购 管理办法》《公开发行证券的公司信息披露内容与格式准则第15号——权益变动 报告书》及《公开发行证券的公司信息披露内容与格式准则第16号——上市公司 收购报告书》等相关法律法规和规范性文件的规定，申港证券股份有限公司按照 行业公认的业务标准、道德规范，本着诚实信用、勤勉尽责的原则，对《君亭酒 店集团股份有限公司详式权益变动报告书》所披露的内容出具核查意见。本财务 顾问特作出如下声明： 一、本财务顾问没有委托或授权其他任何机构或个人提供未在本核查意见中 列载的信息和对本核查意见做任何解释或者说明。 二、本财务顾问依据的有关资料由信息披露义务人提供。信息披露义务人已 做出承诺，保证其所提供的所有书面文件、材料及口头证言真实、准确、完整、 及时，不存在任何重大遗漏、虚假记载或误导性陈述，并对其真实性、准确性、 完整性和合法性负责。 三、本财务顾问已按照规定履行尽职调查义务，有充分理由确信所发表的专 业意见与信息披露 ...

君亭酒店集团股份有限公司 简式权益变动报告书 上市公司名称：君亭酒店集团股份有限公司 股票上市地点：深圳证券交易所 股票简称： 君亭酒店 股票代码：301073 信息披露义务人：施晨宁 通讯地址：浙江省杭州市西湖区三墩紫宣路18号西投绿城·浙谷深蓝中心3号楼 12F 权益变动性质：股份减少 签署日期：2025 年 12 月 1 信息披露义务人声明 一、信息披露义务人依据《中华人民共和国证券法》（以下简称"《证券法》"）、 《上市公司收购管理办法》（以下简称"《收购办法》"）、《公开发行证券的 公司信息披露内容与格式准则第15号—权益变动报告书》（以下简称"《准则15 号》"）及相关的法律法规编写本报告书。 二、信息披露义务人签署本报告书已获得必要的授权和批准，其履行亦不违 反信息披露义务人《公司章程》或内部规则中的任何条款，或与之相冲突。 三、依据《证券法》《收购办法》《准则15号》的规定，本报告书已全面披 露了信息披露义务人在公司拥有权益的股份变动情况。截至本报告书签署之日， 除本报告书披露的信息外，信息披露义务人没有通过任何其他方式增加或减少在 公司中拥有权益的股份。 四、本次权益变动尚须取得国有资产监督 ...

君亭酒店集团股份有限公司 简式权益变动报告书 上市公司名称：君亭酒店集团股份有限公司 股票上市地点：深圳证券交易所 股票简称： 君亭酒店 股票代码：301073 信息披露义务人一：吴启元 通讯地址：浙江省杭州市西湖区三墩紫宣路18号西投绿城·浙谷深蓝中心3号楼 12F。 权益变动性质：股份减少 信息披露义务人二：丁禾 通讯地址：浙江省杭州市西湖区三墩紫宣路18号西投绿城·浙谷深蓝中心3号楼 12F。 权益变动性质：股份减少 签署日期：2025 年 12 月 1 信息披露义务人声明 一、信息披露义务人依据《中华人民共和国证券法》（以下简称"《证券法》"）、 《上市公司收购管理办法》（以下简称"《收购办法》"）、《公开发行证券的 公司信息披露内容与格式准则第15号—权益变动报告书》（以下简称"《准则15 号》"）及相关的法律法规编写本报告书。 二、信息披露义务人签署本报告书已获得必要的授权和批准，其履行亦不违 反信息披露义务人《公司章程》或内部规则中的任何条款，或与之相冲突。 三、依据《证券法》《收购办法》《准则15号》的规定，本报告书已全面披 露了信息披露义务人在公司拥有权益的股份变动情况。截至本报告书签署之日 ...

Core Viewpoint - The controlling shareholder of Junting Hotel will change to a leading state-owned cultural tourism group, which may open up potential for asset injection and resource support, accelerating franchise expansion and international brand collaboration [1] Group 1: Shareholder Change and Implications - The new controlling shareholder, Hubei Cultural Tourism, possesses multiple high-quality hotel assets, scenic spots, and ongoing cultural tourism park projects, indicating a possibility of asset injection into Junting Hotel [1] - The new shareholder is expected to provide comprehensive support for Junting Hotel's front and back-end operations and capital operations, leading to an overall enhancement in capabilities while maintaining the existing management team [1] Group 2: Business Expansion and Strategic Partnerships - Junting Hotel has joined the "Bafang Alliance Digital Symbiosis Platform," establishing strategic cooperation with several leading regional hotel groups and Hangzhou Luyun Software Co., Ltd., promoting member sharing and reducing reliance on a single traffic channel [1] - The first phase of the alliance has already covered over 50 million members, indicating significant growth potential in customer engagement and market reach [1] Group 3: Financial Outlook - Despite the uncertainties regarding asset injection direction and the previously established expectations for hotel management business advancement, the company maintains its profit forecast unchanged and retains a "buy" rating [1]