Core Viewpoint - Atour Lifestyle Holdings Limited announced a secondary offering of 10,000,000 American depositary shares (ADSs) at a price of US$16.90 per ADS, which will raise approximately US$169 million for Legend Capital, the selling shareholder [1][2]. Group 1: Secondary Offering Details - The secondary offering consists of 10,000,000 ADSs, each representing three Class A ordinary shares, priced at US$16.90 per ADS [1]. - Legend Capital will not provide any proceeds to the company from this sale, and the gross proceeds to Legend Capital will be approximately US$169 million, assuming no additional ADSs are purchased by underwriters [2]. - The underwriters have a 30-day option to purchase up to 1,500,000 additional ADSs from Legend Capital [1][2]. Group 2: Ownership and Management Changes - Following the completion of the secondary offering, Legend Capital will own approximately 7.6% of the company's issued and outstanding share capital [2]. - Mr. Hongbin Zhou, a director appointed by Legend Capital, has resigned from his position effective upon the completion of the secondary offering [2]. Group 3: Underwriters and Registration - BofA Securities, Inc., CMB International Capital Limited, and Citigroup Global Markets Inc. are acting as joint bookrunners for the secondary offering [3]. - The offering is made under an effective shelf registration statement on Form F-3 filed with the U.S. Securities and Exchange Commission [4]. Group 4: Company Overview - Atour Lifestyle Holdings Limited is a leading hospitality and lifestyle company in China, recognized as the upper midscale hotel chain and the first Chinese hotel chain to develop scenario-based retail business [6]. - The company is focused on innovation within the hospitality industry and aims to build new lifestyle brands around its hotel offerings [6].

Core Viewpoint - Atour Lifestyle Holdings Limited announced a secondary offering of 10,000,000 American depositary shares (ADSs) at a price of US$16.90 per ADS, which will raise approximately US$169 million for Legend Capital, the selling shareholder [1][2]. Group 1: Secondary Offering Details - The secondary offering consists of 10,000,000 ADSs, with each ADS representing three Class A ordinary shares of par value US$0.0001 [1]. - The gross proceeds from the offering to Legend Capital are approximately US$169 million, not accounting for underwriting discounts and commissions [2]. - The underwriters have a 30-day option to purchase up to 1,500,000 additional ADSs from Legend Capital [1]. Group 2: Ownership and Management Changes - Following the completion of the secondary offering, Legend Capital will own approximately 7.6% of the company's issued and outstanding share capital, assuming no additional ADSs are purchased by the underwriters [2]. - Mr. Hongbin Zhou, a director appointed by Legend Capital, has resigned from his position effective upon the completion of the secondary offering [2]. Group 3: Company Overview - Atour Lifestyle Holdings Limited is a leading hospitality and lifestyle company in China, recognized as the upper midscale hotel chain and the first Chinese hotel chain to develop scenario-based retail business [6]. - The company is focused on innovation within China's hospitality industry and aims to build new lifestyle brands around its hotel offerings [6].

SHANGHAI, CHINA, June 10, 2024 (GLOBE NEWSWIRE) -- Atour Lifestyle Holdings Limited (“Atour” or the “Company”) (NASDAQ: ATAT), a leading hospitality and lifestyle company in China, today announced the commencement of a proposed registered underwritten offering by entities affiliated with Legend Capital (“Legend Capital”) of American depositary shares (the “ADSs”), each ADS representing three Class A ordinary shares of par value US$0.0001 each of the Company. Legend Capital proposes to offer an aggregate of ...

SHANGHAI, CHINA, June 10, 2024 (GLOBE NEWSWIRE) -- Atour Lifestyle Holdings Limited (“Atour” or the “Company”) (NASDAQ: ATAT), a leading hospitality and lifestyle company in China, today announced the commencement of a proposed registered underwritten offering by entities affiliated with Legend Capital (“Legend Capital”) of American depositary shares (the “ADSs”), each ADS representing three Class A ordinary shares of par value US$0.0001 each of the Company. Legend Capital proposes to offer an aggregate of ...

事件 5月 23 日公司公告1Q24 业绩，实现营收 14.7 亿元/+89.7%，净利 润 2.58 亿元/+1326%，经调整净利 2.61 亿元/+63.4%，经调整 EBITDA 3.54 亿元/+53.1%。 点评 Q1 同比高基数下综合 RevPAR 同比下降3%、为 19 年同期 115%， CRS 占比继续提升。1Q24公司综合RevPAR 328 元/-2.6%、为 19 年同期115.1%，18 个月以上门店RevPAR 341 元/-0.3%，好于整 体；拆分量价看，OCC 73.3%/+0.8 pct、为 19 年同期的110.7%， ADR 430元/-2.9%、为 19 年同期的104.1%。Q1末注册会员7140 万/+86% ，CRS 销售间夜占比65.1%/+2.6pct，体现公司品牌势能 强，把握核心客群需求，计划将打通酒店、零售客户体系，有望提 升交叉销售。 Q1 新开店维持较高速度。Q1 新开业97家、环比Q4（100 家）基 美元(元) 成交金额(百万元) 本持平，同比1Q23 增加 59家；截至1Q24 年末门店总数1271 家 23.00 60 /+32.3%，p ...

2024 年 5 月 27 日 CMB 国际全球市场 | 股票研究 | 公司更新 Atour 生活方式 (ATAT US) 在强劲的零售销售的支持下 ， 提出了指导意见 酒店板块在 2Q24 QTD （ 节后休闲需求疲软，业务恢复缓慢 ） 一直承压，因此，前景仍偏 目标价 27.72 美元 保守。然而，Ator 的零售业务表现良好，足以抵消这种拖累。因此，随着零售销售增长目标 （ 以前的 TP 为 23.68 美元 ） 的健康升级，我们维持买入并将 TP 提高至 27.72 美元，基于 23 倍的 FY24E 市盈率 （ 从 涨 / 跌 57.6% 20 倍开始 ），考虑到 29% 的销售额 / 31% 的调整，这仍然不高。23 - 26E 财年净利润复合 现价 17.59 美元中国非必需消费品 年增长率。 沃尔特 · 吴  2Q24E 前景仍然保守。管理层对酒店需求仍然高度谨慎，因为宏观不确定性 （ 假期后 (852) 3761 8776 和周末订单与去年相比已经是一周 ），他们仍然预计 2Q24E 的 RevPAR 可能同比下降 。另一方面，Ator 仍然非常努力地通过增加更多的企业客户和在周末捕捉更多 ...

Investment Rating - The investment rating for the company is "Add" (maintained) [1] Core Insights - The company reported a Q1 2024 revenue of 1.468 billion yuan, a year-on-year increase of 90%, and a net profit attributable to shareholders of 257 million yuan, up 1339% year-on-year [3] - The retail business exceeded expectations, leading to an upward revision of the full-year revenue guidance, with an expected year-on-year growth rate of 40% [3] - RevPAR decreased by 3% year-on-year, primarily due to price declines and a high base from 2023 [3] - The total number of stores reached 1,302, a year-on-year increase of 35%, with a total room count of 148,000, up 32% year-on-year [3] - The company is positioned in the high-end market and is expanding its presence, with the introduction of a mid-range brand expected to enhance profitability [3] Financial Summary - For 2024, the company expects net profits of 955 million yuan, with corresponding P/E ratios of 18, 13, and 11 for 2024, 2025, and 2026 respectively [3] - Revenue forecasts for 2024-2026 are 6.331 billion yuan, 7.922 billion yuan, and 9.432 billion yuan, with year-on-year growth rates of 35.7%, 25.1%, and 19.1% respectively [2][3] - The gross profit margin is projected to improve to 40.4% in 2024, with a net profit margin of 15.1% [9]

SHANGHAI, May 24, 2024 /PRNewswire/ -- May 23, Atour Lifestyle Holdings Limited (NASDAQ: ATAT), a leading hospitality and lifestyle company in China, has released its inaugural Environmental, Social, and Governance (ESG) report for 2023.The report underscores the company's sustainability efforts over the past year and reflects the steady integration of ESG principles into its day-to-day operations.In essence, Atour is committed to reducing waste and making its operations more ecologically friendly. This is ...

Financial Data and Key Metrics Changes - The company's net revenues for Q1 2024 grew by 89.7% year-over-year to RMB1,468 million, but decreased by 2.5% quarter-over-quarter [19] - Adjusted net income for Q1 2024 was RMB261 million, up by 63.4% year-over-year, with an adjusted net profit margin of 17.8%, a decrease of 2.9 percentage points year-over-year [27] - Adjusted EBITDA for Q1 2024 was RMB354 million, up by 53.1% year-over-year, with an adjusted EBITDA margin of 24.1%, a decrease of 5.8 percentage points year-over-year [27] Business Line Data and Key Metrics Changes - Hotel business RevPAR reached RMB328 in Q1 2024, representing 97.4% of the same period in 2023, with occupancy (OCC) growth at 101.1% of 2023's level [6][19] - Revenue from manachised hotels was RMB836 million, up by 87.1% year-over-year, while leased hotel revenues were RMB168 million, down by 10.3% year-over-year [20][21] - Retail business revenues reached RMB417 million, up by 268.9% year-over-year, with online sales accounting for over 90% of total GMV [11][21] Market Data and Key Metrics Changes - The number of hotels in operation increased to 1,302, a 34.5% year-over-year growth, with 97 new hotel openings in Q1 2024 [7][8] - The number of hotels under development reached 674 as of March 31, 2024, indicating strong franchisee confidence [8] Company Strategy and Development Direction - The company aims to have 2,000 premier hotels by 2025, focusing on quality alongside quantity in its expansion strategy [31] - The Atour Light 3.0 brand continues to gain traction, with 30 new signings in Q1 2024, and plans to reach about 100 operational hotels by the end of the year [44][45] - The company is committed to enhancing its ACARD membership ecosystem, integrating accommodation and retail memberships for a unified customer experience [16] Management's Comments on Operating Environment and Future Outlook - Management noted subdued recovery in business travel but sustained growth in leisure tourism, emphasizing the need to adapt to changing market conditions [5][6] - The company raised its revenue guidance for 2024 from 30% to 40% year-on-year growth, driven by strong retail performance and hotel network expansion [32] - Management expressed caution regarding RevPAR forecasts for 2024 due to uncertainties in the operating environment [37] Other Important Information - The company published its inaugural ESG report, highlighting its commitment to environmental, social, and governance practices [17] - The retail business is expected to achieve high double-digit year-over-year revenue growth for the full year, with ongoing investments in branding and channels [42] Q&A Session Summary Question: Will the company adjust the full year opening revenue and profit guidance? - Management confirmed confidence in achieving the target of 360 new hotel openings for the full year and raised revenue guidance to 40% year-on-year growth [31][32] Question: Can management share the recent blended RevPAR trend and expectations for 2024? - Management indicated Q1 RevPAR was RMB328, with expectations of pressure in Q2 due to various factors affecting performance [36][37] Question: What are the expectations for Atour's revenue and expenditures in the retail business? - Management expects high double-digit revenue growth for the retail business and stable sales expenditures for the year [42] Question: What are the opening goals for Atour Light 3.0 and updates on Atour 4.0 hotels? - Management expects about 100 Atour Light 3.0 hotels in operation by year-end and confirmed the first Atour 4.0 hotel is in preparation [44][46] Question: Are there any plans for returns to shareholders? - Management emphasized the importance of shareholder returns and indicated plans to consider dividends based on overall performance and cash position [47]

Atour Lifestyle Holdings Limited (NASDAQ: ATAT) 1Q24 Results Presentation ...