日前，有消费者投诉收到桔子酒店南京一门店的性骚扰信息，此事引发争议。2月20日，桔子酒店所属华住集团相关负责人就此回应南都称，目前警方还在 调查中。同日，南都湾财社记者从涉事平台了解到，平台将配合华住会和警方调查事情真相，一切以警方调查结果为准。 2月20日，南都湾财社记者致电南京市公安局秦淮分局朝天宫派出所，工作人员回应称，已知悉此事，将把采访问题转至相关部门，截至发稿前，记者未得 到更多回应。 南都此前报道，有消费者近日投诉称，她预订了桔子酒店（南京新街口金陵中环店）2月18日-2月19日的房间，但预订后被告知酒店刚完成装修，房间门无 法用房卡打开，只能由前台打开，出于安全考虑，她取消了预订，没想到次日凌晨在平台收到了店家的信息恐吓。聊天截图显示，酒店店家于凌晨1点多发 送信息称"我可以去你方间强贱你"。 2月20日，南都湾财社记者在携程、去哪儿、美团等多个OTA平台查询均发现，无法直接搜索到涉事酒店，但通过地图App搜索则可以跳转至涉事平台涉事 酒店页面，但记者换了多个日期搜索房型，页面均显示"您选的日期暂无可预订房型"。飞猪平台则能搜索到涉事酒店，但同样无法预订房间。 涉事平台显示，涉事酒店开业于20 ...

文 丨 《BUG》栏目 周文猛 因"霸王条款"刚被约谈完成后，华住集团疑似因旗下酒店"恐吓顾客"的极端事件，登上了热搜。 近日，有网友投诉称，自己在取消此前预定的南京地区桔子酒店房间后，于凌晨收到店方发来的恐吓信 息，直言"我可以去你方间强贱你"。 在微博等平台上，目前有关"桔子酒店回应顾客凌晨收到恐吓短信"的消息已引发超2289条讨论、2351.8 万阅读，大量顾客对涉事门店给出的说辞深表质疑。 与此同时，此次事件也引发了一些消费者的担忧，即使非工作人员发出，也反映了桔子酒店"系统不咋 样"，且有可能"泄露顾客信息"。 据该事件涉事门店回应《BUG》栏目，目前警方已介入调查此事，前述恐吓言论并非工作人员发出。 另有华住集团相关人员回应《BUG》栏目："会反馈并派专员跟进处理此事，预计72小时内会有结果"。 有用户质疑道："酒店方肯定嫌疑最大，系统可以用手机或其他设备登录。"对于讨论最多的黑客一说， 很多人认为所谓的黑客没有理由入侵桔子酒店，其反而可能是"替罪羊"。 目前在黑猫投诉 【下载黑猫投诉客户端】等平台上，桔子酒店疑似"恐吓"入住的投诉情况也曾发生。 这背后，究竟是管理失守还是系统漏洞？ 被指恐吓退单 ...

近日，有网友投诉，凌晨收到了来自桔子酒店南京一门店的恐吓信息，此事引发争议。 聊天截图显示，该消费者在平台预订了桔子酒店（南京新街口金陵中环店）2月18日-19日的房间，后来该消费者取消订单后， 该酒店店家于凌晨1点多发送信息称"我可以去你房间强奸你"。 （文章来源：南方都市报） 该消费者在帖子中表示，其订房后被告知酒店刚装修完，房间需要前台打开，考虑到安全问题最后取消了这个订单，没想到 收到了恐吓。该消费者还表示，已经报警了，警察查看监控后表示并非当晚值班人员发送的，推测是黑客入侵。 2月18日，涉事门店桔子酒店（南京德基广场新街口地铁站店）向南都湾财社记者表示，针对此事，消费者与该酒店双方均已 报警，并称，警察已经来过酒店，并对能使用电脑给消费者发信息的酒店工作人员均已调查，"（发送信息的）ip不是前台员 工的，这句话也并非工作人员发出的，携程那边也在核查。我们也觉得很奇怪为什么消费者会收到这句话，我们也觉得很冤 枉"。 该门店还透露，该门店刚装修过，处于试营业阶段，工作人员没有必要发这种信息给顾客，门店也确保工作人员不会做这样 的事情。 2月18日，南都湾财社联系采访涉事消费者，截至发稿前未得到回应。桔 ...

Group 1 - Gao Yi Asset held stocks of 13 companies in the US stock market with a total market value exceeding $600 million as of the end of 2025 [2] - The top ten holdings of Gao Yi Asset prominently feature Chinese concept stocks, with significant increases in positions for Pinduoduo and Beike, and a new investment in Yixian E-commerce [2] - The top ten holdings include Huazhu Group, Pinduoduo, Google, Yum China, Beike, Wuxi AppTec, NetEase, iQIYI, TSMC, and ISHARES TR, indicating a dominant presence of Chinese concept stocks [2] Group 2 - As of the end of last year, Gao Yi Asset held 1.333 million shares of Pinduoduo, having increased its position by 629,000 shares compared to the end of the third quarter [3]

Group 1 - Gao Yi Asset holds shares in 13 companies in the US stock market, with a total market value exceeding $600 million, focusing heavily on Chinese companies listed overseas [1] - The top ten holdings of Gao Yi Asset include seven Chinese concept stocks, with Huazhu Hotels Group being the largest position, showing a strong preference for Chinese enterprises [1] - Huazhu Hotels Group reported a hotel revenue of 30.6 billion yuan for Q3 2025, a year-on-year increase of 17.5%, with over 12,000 hotels in operation and membership exceeding 300 million [1] Group 2 - Gao Yi Asset increased its holdings in several Chinese concept stocks, including Pinduoduo, Beike, and iQIYI, with Pinduoduo seeing an increase of 629,000 shares, nearly a 90% rise [1] - Another private equity firm, Jinglin Asset, also increased its holdings in Pinduoduo by over 600,000 shares during the same reporting period [2] - Pinduoduo reported Q3 2025 revenue of 108.28 billion yuan, a year-on-year growth of 9%, but faced pressure on operating profit margins due to intensified market competition and ongoing investments under its "billion support plan" [2]

Core Insights - Gao Yi Asset disclosed its US stock holdings as of the end of 2025, indicating a total market value exceeding 600 million USD across 13 companies [2] - The firm increased its positions in Chinese concept stocks such as Pinduoduo and Beike in the fourth quarter of the previous year, and initiated a new investment in Yixian E-commerce [2] - The top ten holdings of Gao Yi Asset in the US stock market include Huazhu Group, Pinduoduo, Google, Yum China, Beike, Wuxi AppTec, NetEase, iQIYI, TSMC, and ISHARES TR, with Chinese concept stocks dominating the portfolio [2]

Group 1 - Gao Yi Asset's latest US stock holdings were disclosed, showing a total market value exceeding $600 million across 13 companies as of the end of 2025 [1][3] - The top ten holdings are dominated by Chinese concept stocks, with significant increases in positions for Pinduoduo and Beike, and a new investment in Yixian E-commerce [1][3][9] - The largest holding is Huazhu Hotels Group, which has consistently been the top position for multiple quarters [4][9] Group 2 - Huazhu Hotels Group reported a hotel revenue of 30.6 billion yuan for Q3 2025, a year-on-year increase of 17.5%, with over 12,000 hotels in operation [5] - Pinduoduo saw a revenue of 108.28 billion yuan in Q3 2025, with a year-on-year growth of 9%, marking a decline in growth rate [7] - The overall sentiment in the private equity sector is optimistic regarding domestic demand recovery in 2026, with expectations for opportunities in consumer and real estate sectors [10][11] Group 3 - The real estate cycle's impact on consumption is diminishing, and domestic demand is being driven by growth in other sectors [12] - Increased social capital activity is expected to positively influence economic recovery, supported by proactive policy signals [12][13] - Analysts suggest that the turning point for domestic demand is approaching, with opportunities emerging in sectors like hospitality and consumer goods [11][13]

Recent Events - On February 11, 2026, the Beijing Consumers Association held a meeting with Huazhu Group's membership club, Huazhu Club, highlighting that the mandatory arbitration clause in its membership service agreement may be an unfair format clause, limiting consumer rights. The association requested a comprehensive self-examination and a deadline for rectification. Additionally, there have been consumer complaints regarding hygiene issues in Huazhu's hotels, such as the incident at the Beijing Orange Crystal Hotel. Huazhu Club responded by stating that it takes these issues seriously and has initiated a self-examination, committing to optimize the consumer environment. The subsequent rectification progress may have a short-term impact on brand image and investor sentiment [1]. Stock Performance - Following the meeting, Huazhu Group's stock (01179.HK) experienced a 1.49% decline on February 11, 2026, but rebounded with a 1.32% increase on February 12, closing at HKD 41.42. Over the recent 7-day period (February 6 to 12), the stock rose by 7.58%, with active trading and technical indicators showing increased volatility, necessitating attention to market sentiment changes [2]. Institutional Insights - In a report dated February 4, 2026, Citi Securities noted that with the upcoming Spring Festival holiday, consumer travel intentions are expected to increase. They forecasted that Huazhu will continue its positive growth trend in Revenue per Available Room (RevPAR), raising the 2026 RevPAR growth forecast from 1.1% to 2.8%. This outlook is based on Huazhu's high operating leverage and brand structure optimization, although the report did not specifically analyze short-term event risks [3]. Financial Performance - Huazhu Group's financial performance for Q3 2025 showed an 8.1% year-on-year revenue increase to CNY 7 billion, with the number of newly opened hotels reaching a seasonal high for the year. While this data is historical, the company's ongoing expansion and membership growth (with over 300 million members in Huazhu Club) may provide context for future events, warranting attention to upcoming financial reports and business developments [4].

Core Insights - In 2025, the company celebrates its 20th anniversary, emphasizing a "lean growth" strategy amidst a complex market environment [2] - The company is focusing on "brand-led" supply-side structural upgrades to address market challenges and enhance consumer experiences [2] - The company is undergoing a deep transformation in China's service industry, with clear consumer segmentation and a shift towards quality-price ratio as a mainstream demand [2][3] Company Developments - The company has achieved value breakthroughs through continuous "brand and product iterations," with notable upgrades such as the 4.0 version of the Hanting brand [2] - The All Seasons Hotel continues to lead in Eastern aesthetics and Chinese Zen-inspired business travel lifestyles [2] - The Orange Hotel has surpassed 1,000 locations by July 2025, showcasing its distinctive design and vibrant brand philosophy [2] Industry Trends - The Chinese hotel industry is transitioning from incremental competition to stock optimization, necessitating the replacement of large-scale, traditional, and inefficient accommodation supply with standardized, branded, and digitalized quality offerings [3] - The company's initiative to "redo the Chinese hotel industry" aims to expand successful new products, standards, and efficiencies into broader markets [3]

Core Viewpoint - Huazhu Group's membership club, Huazhu Club, was summoned by the Beijing Consumer Association on February 11, 2026, regarding unfair arbitration clauses in its membership service agreement, which limit consumer rights [1] - Recent consumer complaints about hygiene issues in Huazhu hotels have raised concerns about management quality, prompting the company to initiate a self-inspection and commit to improving the consumer environment [1] Stock Performance - Huazhu Group's stock (01179.HK) rose by 7.58% over the recent 7-day period from February 6 to February 12, 2026, with the closing price increasing from HKD 40.16 to HKD 41.42 [2] - The stock experienced increased volatility, with a single-day drop of 1.49% on February 11 due to the summons, followed by a rebound of 1.32% on February 12 [2] - The trading volume during this period reached HKD 4.44 billion, with a closing price of HKD 41.42 on February 12, showing a daily fluctuation of 1.86% and a turnover rate of 0.06% [2] Institutional Insights - According to a report by Citi on February 4, 2026, consumer travel willingness is expected to increase with the upcoming Spring Festival, leading to a positive growth trend in revenue per available room (RevPAR) for Huazhu [3] - The RevPAR growth forecast for 2026 has been raised to 2.8%, based on Huazhu's high operating leverage and brand structure optimization, although specific analysis of short-term event risks was not provided [3]