Financial Data and Key Metrics Changes - Total revenues decreased by 22.5% year-over-year to RMB 357 million [11] - Net income decreased by 44.4% to RMB 65.2 million, with a margin of 18.3% [11][26] - Adjusted EBITDA decreased by 32.1% to RMB 122.5 million, with a margin of 34.3% [11] Business Line Data and Key Metrics Changes - Hotel revenues decreased by 15.4% to RMB 286.9 million, primarily due to a 13.6% decrease in RevPAR [11][19] - Restaurant business revenues decreased by 42% year-over-year to RMB 70.6 million, mainly due to lower ADS and the closure of L&O stores [24] - The number of restaurants in operation stabilized at 182, with 55.5% of stores now being franchise stores [10] Market Data and Key Metrics Changes - Hotel RevPAR was RMB 135, a decrease of 13.6% year-over-year [11] - Restaurant ADS decreased by 25.6% to RMB 4,891 [11] - Occupancy rates for L&O hotels decreased to 75.9% from 79%, while F&M hotels decreased to 74.6% from 81.3% [12] Company Strategy and Development Direction - The company is focusing on expanding its mid- to upscale segment and increasing its presence in Tier 2 and Tier 3 cities, especially in South China [14][15] - The strategic transformation of the restaurant business has been completed, with a focus on areas with greater foot traffic [17] - The company aims to improve profitability by enhancing the performance of legacy hotels and expanding its pipeline of new hotels [40] Management's Comments on Operating Environment and Future Outlook - Management noted a normalization in the hospitality industry following a surge last year, with expectations for improved performance in Q4 compared to Q3 [35] - The company is optimistic about its 2025 outlook, anticipating better performance driven by new hotel openings and improved RevPAR [40] - Management expressed confidence in maintaining the dividend policy despite the drop in net income, attributing part of the decline to a foreign exchange loss [54] Other Important Information - As of September 30, 2024, total cash and cash equivalents increased to RMB 1,883.9 million from RMB 1,737.2 million as of June 30, 2024 [27] - The company anticipates an 8% decrease in hotel revenue for the full year 2024 compared to 2023 [28] Q&A Session Summary Question: Industry trend and company performance comparison - Management indicated that their portfolio has a higher percentage of legacy hotels, which has resulted in a more severe impact on RevPAR compared to newly opened hotels [34] Question: Expectations for restaurant business in Q4 - Management expressed optimism about continued profitability in the restaurant segment, focusing on selecting new locations to sustain growth [36] Question: Sector supply and demand landscape - Management noted intensified competition in the industry but expects a more normalized environment moving forward, with many new hotels in the pipeline [39] Question: Bargaining power with OTAs - Management acknowledged the growth of OTAs and emphasized the importance of working closely with them to create mutually beneficial arrangements [46] Question: Guizhou project details - Management confirmed collaboration with local government on a project in Guizhou, aiming to reposition and reopen nonperforming assets [48] Question: Future dividend plans - Management reassured that the dividend policy will continue despite the drop in net income, citing confidence in future operating income improvements [54] Question: Liquidity improvement plans - Management discussed ongoing reorganization efforts to boost liquidity, including merging the parent company with GHG [55]

Financial Performance - Total revenues decreased by 22.5% year over year to RMB357.0 million (US$50.9 million) in Q3 2024[6] - Net income was RMB65.2 million (US$9.3 million), down from RMB117.4 million in Q3 2023, representing a year-over-year decrease of 44.5%[6] - Adjusted EBITDA (non-GAAP) decreased 32.1% year over year to RMB122.5 million (US$17.5 million)[6] - Gross profit for Q3 2024 was RMB151.8 million (US$21.6 million), a 28.8% year-over-year decrease, with a gross margin of 42.5%[37] - Income from operations in Q3 2024 was RMB106.4 million (US$15.2 million), down from RMB137.8 million in Q3 2023, with a margin of 29.8%[38] - Net income for Q3 2024 was RMB65.2 million (US$9.3 million), compared to RMB117.4 million in Q3 2023, resulting in a net margin of 18.3%[40] - Adjusted EBITDA for Q3 2024 was RMB122.5 million (US$17.5 million), a year-over-year decrease of 32.1%, with an adjusted EBITDA margin of 34.3%[44] - Core net income for Q3 2024 was RMB93.5 million (US$13.3 million), a year-over-year decrease of 26.6%, with a core net margin of 26.2%[45] Revenue Sources - Total revenues from restaurants were RMB70.6 million (US$10.1 million), a 42.0% year-over-year decrease[14] - Total revenues from franchised-and-managed hotels and restaurants were RMB169.7 million (US$24.2 million), a 10.7% year-over-year decrease[21] - The average daily sales per store (ADS) for restaurants was RMB4,891, a decrease of 25.6% from RMB6,570 in Q3 2023[10] Operational Metrics - The average daily room rate was RMB181, a decrease of 6.0% from RMB192 in Q3 2023[6] - The occupancy rate was 74.6%, down from 81.2% in Q3 2023[6] - The number of hotels in operation was 4,336 with a pipeline of 1,085 hotels contracted for or under development as of September 30, 2024[6] - The company reported a total of 307,001 hotel rooms in operation as of September 30, 2024, compared to 316,461 rooms in the previous year, indicating a decrease in total room count[81] - The revenue per available room (RevPAR) for leased and owned hotels was RMB 21,219.60, up from RMB 19,517.00 year-over-year, representing an increase of 8.7%[80] Cost Management - Total operating costs and expenses for Q3 2024 were RMB324.2 million (US$46.0 million), reflecting the impact of decreased revenues[26] - Operating costs for the third quarter of 2024 were RMB205.2 million (US$29.2 million), a 17.2% year-over-year decrease[28] - Hotel operating costs decreased to RMB152.3 million (US$21.7 million), a 4.8% year-over-year decrease, primarily due to lower staff-related costs from the disposal of L&O hotels[28] - Restaurant operating costs in Q3 2024 were RMB53.4 million (US$7.6 million), a 39.2% year-over-year decrease, attributed to the closure of L&O stores[29] Cash and Assets - As of September 30, 2024, total cash and cash equivalents were RMB1,883.9 million (US$268.5 million), an increase from RMB1,737.2 million as of June 30, 2024[52] - Total current assets increased from RMB 1,626,759,605 on December 31, 2023, to RMB 1,885,742,262 on September 30, 2024, representing a growth of approximately 15.9%[68] - Cash and cash equivalents rose significantly from RMB 765,547,547 to RMB 1,513,020,988, indicating an increase of about 97.5%[68] - Total liabilities decreased from RMB 3,586,765,383 on December 31, 2023, to RMB 3,508,917,338 on September 30, 2024, reflecting a reduction of approximately 2.2%[68] - Shareholders' equity increased from RMB 1,480,033,495 to RMB 1,590,895,436, marking an increase of about 7.5%[68] Strategic Initiatives - The company maintains a diverse brand portfolio across various segments of the hospitality industry, aiming to strengthen client relationships through superior system management and a broad booking network[64] - GreenTree's future growth strategies include expanding its market presence and enhancing its operational capabilities through new technology and product offerings[65] - The company plans to focus on market expansion and new product development to drive future growth[79] - Strategic acquisitions are being considered to strengthen market presence and competitive advantage[82] - The management remains optimistic about achieving long-term growth targets despite market challenges[82]

Core Viewpoint - GreenTree Hospitality Group Ltd. reported a significant decline in total revenues and net income for the third quarter of 2024, reflecting challenges in both the hotel and restaurant segments amid a recovering economy in China [1][3][6]. Financial Performance - Total revenues decreased by 22.5% year over year to RMB357.0 million (US$50.9 million) [1][3]. - Income from operations was RMB106.4 million (US$15.2 million), down from RMB137.8 million in the same quarter of 2023 [1][6]. - Net income fell to RMB65.2 million (US$9.3 million) compared to RMB117.4 million in the third quarter of 2023 [1][6]. - Adjusted EBITDA decreased by 32.1% year over year to RMB122.5 million (US$17.5 million) [1][8]. - Core net income decreased by 26.6% year over year to RMB93.5 million (US$13.3 million) [1][10]. Operational Highlights Hotels - As of September 30, 2024, the company operated 4,336 hotels with 316,461 rooms [1]. - The average daily room rate (ADR) was RMB181, a decrease of 6.0% from RMB192 in the third quarter of 2023 [1]. - The occupancy rate was 74.6%, down from 81.2% in the same quarter of 2023 [1]. - Revenue per available room (RevPAR) was RMB135, reflecting a 13.6% year-over-year decrease [1]. Restaurants - The company operated 182 restaurants as of September 30, 2024 [1]. - The average check (AC) was RMB46, a 15.9% year-over-year decrease [1]. - Average daily sales (ADS) per store were RMB4,891, down 25.6% from RMB6,570 in the third quarter of 2023 [1]. Cost Management - Total operating costs and expenses were RMB265.2 million (US$37.8 million), a decrease of 17.2% year over year [6]. - Operating costs for the hotel business were RMB152.3 million (US$21.7 million), a 4.8% year-over-year decrease [6]. - Restaurant operating costs were RMB53.4 million (US$7.6 million), a 39.2% year-over-year decrease [6]. Cash Flow and Liquidity - Operating cash inflow was RMB139.2 million (US$19.8 million) due to income from operations [10]. - As of September 30, 2024, total cash and cash equivalents amounted to RMB1,883.9 million (US$268.5 million), an increase from RMB1,737.2 million as of June 30, 2024 [10]. Future Outlook - The company anticipates a revenue decrease of approximately 8% for its hotel business for the full year 2024 compared to 2023, influenced by lower-than-expected travel and strategic reviews leading to hotel closures [10].

Core Viewpoint - GreenTree Hospitality Group Ltd. will report its unaudited financial results for Q3 2024 on November 21, 2024, and will hold an earnings conference call at 8:00 AM U.S. Eastern Time on the same day [1]. Group 1: Financial Reporting - The unaudited financial results for the third quarter ended September 30, 2024, will be announced on November 21, 2024 [1]. - An earnings conference call will take place at 8:00 AM U.S. Eastern Time on November 21, 2024 [1]. Group 2: Company Overview - GreenTree Hospitality Group Ltd. is a leading hospitality management group in China, with a total of 4,272 hotels and 183 restaurants as of June 30, 2024 [5]. - In 2023, GreenTree was ranked 11th among the 225 largest global hotel groups by HOTELS magazine based on the number of hotels [5]. - The company was recognized as the fourth largest hospitality company in China in 2023 by the China Hospitality Association [5]. - GreenTree completed the acquisition of Da Niang Dumplings and Bellagio, two prominent restaurant chains in China, in 2023 [5]. Group 3: Business Strategy - GreenTree has a diverse brand portfolio that spans economy, mid-scale, and upscale segments of the hospitality industry, primarily in China [6]. - The company aims to maintain close relationships with clients and partners through a strong membership base, expansive booking network, and superior system management [6].

Company Overview - Greene King Holdings (GHG) is a Chinese franchise hotel operator with approximately 4,059 hotels and nearly 302,497 rooms across China [2] Financial Performance - The company reported revenues of $45.53 million and net profits of $8.52 million, with earnings per share at $0.08 [1] - Gross profit was recorded at $18.14 million, maintaining a price-to-earnings ratio of 9.45 [1] Stock Performance - GHG experienced a significant stock price decline of 5.37%, bringing its share value down to $3.09 [1] - The trading volume was 1,912 shares, with no turnover or price fluctuation reported at the time of the summary [1] - The sole institutional rating suggests holding the stock, with no recommendation to buy or sell [1] Industry Context - The accommodation industry sector reported an overall decline of 0.27% [1] - Luxurban Hotels Inc. and Sonder Holdings Inc. saw significant gains, indicating variability within the sector [1] - Luxurban Hotels Inc. had a turnover rate of 2.88% and a price swing of 9.54%, marking it as one of the more volatile stocks [1]

Financial Performance - Total revenues decreased by 20.5% year over year to RMB 329.7 million (US$45.4 million) in Q2 2024[7] - Net income was RMB 62.3 million (US$8.6 million), down from RMB 101.9 million in Q2 2023[7] - Adjusted EBITDA (non-GAAP) decreased 34.5% year over year to RMB 83.1 million (US$11.4 million)[7] - Gross profit for the second quarter of 2024 was RMB 131.4 million (US$18.1 million), reflecting a 22.8% year-over-year decrease, with a gross margin of 39.8%[31] - Net income for the second quarter of 2024 was RMB 62.3 million (US$8.6 million), down from RMB 101.9 million in the same quarter of 2023, resulting in a net margin of 18.9%[34] - Adjusted EBITDA for the second quarter of 2024 was RMB 83.1 million (US$11.4 million), a year-over-year decrease of 34.5%[37] - Core net income for the second quarter of 2024 was RMB 70.2 million (US$9.7 million), a year-over-year increase of 2.4%[38] - Net income attributable to ordinary shareholders for the quarter was RMB 61,690,274, down 40.2% from RMB 103,255,064 in the same quarter last year[64] - The company reported a net earnings per share of RMB 0.61 for the quarter, compared to RMB 1.01 in the same quarter of 2023, reflecting a decline of 39.6%[64] - Comprehensive income attributable to ordinary shareholders for the quarter was RMB 61,202,418, down from RMB 97,288,262 in the same quarter of 2023, a decline of 37.1%[64] Revenue Breakdown - Restaurant revenues were RMB 65.3 million (US$9.0 million), a 37.8% year-over-year decrease[17] - Total revenues from leased-and-operated hotels and restaurants were RMB 149.2 million (US$20.5 million), a 28.9% year-over-year decrease[18] - Total revenues from franchised-and-managed hotels and restaurants were RMB 160.0 million (US$22.0 million), an 11.2% year-over-year decrease[21] - Total revenues for the quarter ended June 30, 2024, were RMB 329,711,656, a decrease of 20.5% compared to RMB 414,989,569 for the same quarter in 2023[63] - Total revenues for the quarter ended June 30, 2024, were RMB 264,603,069, a decrease of 14.8% compared to RMB 310,615,960 in the same quarter of 2023[66] - Leased-and-operated revenues for the six months ended June 30, 2024, increased to RMB 228,393,613, up 6.0% from RMB 213,563,927 in the same period of 2023[66] - Total revenues for the restaurant business for the quarter ended June 30, 2024, were RMB 65,293,568, a decrease of 37.9% compared to RMB 104,939,572 in the same quarter of 2023[68] Operational Metrics - The occupancy rate was 72.5%, down from 77.8% in Q2 2023[8] - Revenue per available room (RevPAR) was RMB 125, a 10.8% year-over-year decrease[8] - The average daily room rate was RMB 173, a decrease of 4.3% from RMB 181 in Q2 2023[8] - The company opened 44 hotels and had a pipeline of 1,022 hotels contracted for or under development as of June 30, 2024[8] - Total hotels in operation increased to 4,272 as of June 30, 2024, up from 4,108 in the same period last year, representing a growth of 4%[77] - The occupancy rate for leased-and-owned hotels dropped to 70.7% in Q2 2024 from 74.6% in Q2 2023[77] - Average daily rate for franchised hotels decreased to RMB 171 in Q2 2024, down from RMB 179 in Q2 2023[77] - Total hotel rooms in operation rose to 312,734 as of June 30, 2024, compared to 303,387 a year earlier, marking a 3.5% increase[77] - The number of franchised hotels grew to 4,210 in Q2 2024, up from 4,043 in Q2 2023, indicating a growth of 4.1%[77] Cost Management - Operating costs for the second quarter of 2024 were RMB 198.3 million (US$27.3 million), a 19.0% year-over-year decrease[25] - Hotel operating costs decreased by 4.5% year-over-year to RMB 143.4 million (US$19.7 million) due to lower personnel costs and material consumption[25] - Restaurant operating costs saw a significant decrease of 42.0% year-over-year to RMB 55.1 million (US$7.6 million) primarily due to the closure of L&O stores[26] - General and administrative expenses increased by 13.7% year-over-year to RMB 61.5 million (US$8.5 million), with hotel G&A expenses rising by 23.6%[28] - Operating costs and expenses for the quarter were RMB 281,842,514, a decrease of 14.0% from RMB 327,885,996 in the same quarter of 2023[63] - Operating costs and expenses for the quarter ended June 30, 2024, were RMB 217,716,997, an increase of 2.0% from RMB 213,335,047 in the same quarter of 2023[66] Asset and Equity Management - Total current assets increased from RMB 1,626,759,605 on December 31, 2023, to RMB 1,768,547,807 on June 30, 2024, reflecting a growth of approximately 8.7%[60] - Total liabilities decreased from RMB 3,586,765,383 on December 31, 2023, to RMB 3,533,705,343 on June 30, 2024, indicating a reduction of about 1.5%[61] - Shareholders' equity rose from RMB 1,480,033,495 on December 31, 2023, to RMB 1,589,680,395 on June 30, 2024, representing an increase of approximately 7.4%[61] - Cash and cash equivalents increased significantly from RMB 765,547,547 to RMB 1,374,876,965, a growth of about 80%[60] - GreenTree's total assets increased from RMB 5,066,798,878 on December 31, 2023, to RMB 5,123,385,738 on June 30, 2024, reflecting a growth of approximately 1.1%[60] Strategic Initiatives - The company revised its revenue guidance for the hotel business in 2024 to remain flat compared to 2023 due to strategic decisions and lease expirations[44] - A cash dividend of US$0.10 per ordinary share has been approved for distribution to shareholders[45] - The company emphasizes its commitment to future growth strategies and market expansion in the hospitality industry[57] - The company plans to focus on market expansion and new product development to drive future growth[67] - The company is exploring potential mergers and acquisitions to strengthen its market position[78] - Strategic initiatives are being implemented to optimize supply chain management and reduce operational costs[78] - Future guidance indicates a positive outlook for revenue growth driven by increased restaurant openings and enhanced service offerings[78] Challenges and Adjustments - The company experienced a foreign currency translation adjustment loss of RMB 487,856 for the quarter, compared to a gain of RMB 185,533 in the same quarter of 2023[64] - The net loss attributable to non-controlling interests for the quarter was RMB 571,587, compared to a net income of RMB 1,308,704 in the same quarter of 2023[64] - Net cash provided by operating activities for the quarter was RMB 69,165,002, down 53% from RMB 147,574,909 in the same quarter last year[72] - Net loss for the quarter ended June 30, 2024, was RMB 62,261,861, a decrease of 39% compared to RMB 101,946,360 for the same quarter in 2023[71] - Bad debt expenses increased significantly to RMB 16,294,501 for the quarter, compared to RMB 6,320,196 in the same quarter of 2023, marking a 158% rise[71]

GreenTree Hospitality Group 大 娘水 饺 一名大会本优质 2024 Q2 Results August 15, 2024 日 格林东方酒店 区 繁華民 V 格羅酒店 格菲酒店 VX HOTEL 👍 无限 酒 周 格 丽 源 版 👍 👍 特 楽 象 拥 网 - D 世纪 小吃 格 盟 酒店 "Vatica e 贝克酒店 ShallHotel al Disclaimer This presentation does not constitute or form part of any offer for sale or subscription of or solicitation or invitation of any offer to buy or subscribe for any securities. Neither this presentation nor any part of it shall form the basis of or be relied upon in connection with any contract or commitment whats ...

Financial Data and Key Metrics Changes - In Q2 2024, total revenues decreased by 20.5% year-over-year to RMB329.7 million, with hotel revenues down 14.8% to RMB264.6 million and restaurant revenues down 37.8% to RMB35.3 million [10][14][17] - Net income was RMB62.3 million, down 38.9% year-over-year, with a margin of 18.9% [10] - Adjusted EBITDA decreased by 34.5% to RMB83.1 million, with a margin of 25.2% [10] Business Line Data and Key Metrics Changes - Hotel RevPAR decreased by 10.8% year-over-year to RMB125, with LO hotels experiencing a RevPAR drop of 7.3% and FM hotels a drop of 10.9% [10][11] - Restaurant average daily sales (ADS) decreased by 22.1% year-over-year to RMB4,737 [10][12] - The number of franchised and managed restaurants increased to 86.9% of total, with street stores accounting for 45.4% [13] Market Data and Key Metrics Changes - The company observed a trend of increased leisure travel compared to business travel, particularly in third-tier cities [30] - RevPAR in first-tier cities dropped by 12.5%, second-tier by 11.7%, and third-tier cities saw a lesser impact with a 9% reduction [32] Company Strategy and Development Direction - The company is focusing on upgrading hotels to respond to competition and is shifting its restaurant strategy towards franchised street stores [8][9] - Plans to open approximately 480 new hotels in 2024, despite a slower opening rate in Q2 due to regulatory challenges [24][42] - The company aims to maintain a disciplined approach to growth, prioritizing quality over quantity in hotel openings [43] Management's Comments on Operating Environment and Future Outlook - Management noted that consumer and business caution in discretionary spending negatively impacted performance [8] - The company anticipates flat revenue performance for the hotel business in 2024 compared to 2023, citing various operational challenges [24] - Management expressed confidence in the long-term growth potential and profitability of the restaurant business, despite current challenges [48] Other Important Information - The company declared a cash dividend of US$0.10 per ordinary share, indicating a commitment to returning value to shareholders [19] - As of June 30, 2024, total cash and equivalents increased to RMB1,737.2 million from RMB1,517.1 million as of March 31, 2024 [18] Q&A Session Summary Question: Can you provide insights on RevPAR trends for July and August and the outlook for the second half? - Management indicated a steep drop in July's RevPAR of around 15%, with a recovery to less than a 10% drop in August [23] Question: Is there a difference between business and leisure demand? - Management noted a shift towards more leisure travel, especially in third-tier cities, with leisure hotels performing well [30] Question: How does the company compare to peers in the industry? - Management believes the company is performing better than peers in terms of price, occupancy, and reservation numbers [36] Question: What are the reasons for the low number of hotel openings in Q2? - Delays in scheduled openings were attributed to stricter regulations and licensing requirements [42] Question: What are the plans for the restaurant business moving forward? - The company plans to open about 60 new restaurants, focusing on community street stores, while remaining cautious about expansion [49]

Core Viewpoint - GreenTree Hospitality Group Ltd. has announced a cash dividend of US$0.10 per ordinary share, totaling approximately US$10 million, as part of its commitment to delivering value to shareholders [1][2][3]. Company Overview - GreenTree Hospitality Group Ltd. is a leading hospitality and restaurant management group in China, with 4,272 hotels and 183 restaurants as of June 30, 2024 [4]. - The company was ranked 11th among the 225 largest global hotel groups by HOTELS magazine in 2023 and is the fourth largest hospitality company in China according to the China Hospitality Association [4]. - In 2023, GreenTree completed acquisitions of Da Niang Dumplings and Bellagio, enhancing its restaurant portfolio [4]. Financial Actions - The board of directors has approved a cash dividend of US$0.10 per ordinary share, with payments expected to be made around October 16, 2024, for ordinary shares and October 23, 2024, for American Depositary Shares (ADS) [1][2]. - The company will continue its planned share buyback program, reinforcing its commitment to sustainable profitable growth [3].

SHANGHAI, Aug. 12, 2024 /PRNewswire/ -- GreenTree Hospitality Group Ltd. (NYSE: GHG) ("GreenTree" or the "Company"), a leading hospitality management group in China, today announced that it will report its unaudited financial results for the second quarter ended June 30, 2024, on Thursday August 15, 2024. GreenTree's management will hold an earnings conference call at 8:00 AM U.S. Eastern Time on August 15, 2024 (8:00 PM Beijing/Hong Kong Time on August 15, 2024).Dial-in numbers for the live conference call ...