Financial Performance - Adjusted net profit reached RMB 2.3 billion, representing a growth of 1.6%[9] - Revenue for Q1 2025 was RMB 10,891.5 million (USD 1,500.9 million), a 9.4% increase from RMB 9,960.0 million in Q1 2024[10] - Net profit for Q1 2025 was RMB 2,039.2 million (USD 281.0 million), a significant increase of 40.9% from RMB 1,447.7 million in Q1 2024[10] - Adjusted EBITDA for Q1 2025 was RMB 3,686.7 million (USD 508.0 million), a slight increase of 0.7% from RMB 3,660.4 million in Q1 2024[10] - Basic and diluted earnings per American Depositary Share (ADS) were RMB 2.50 (USD 0.34) and RMB 2.44 (USD 0.34), respectively, reflecting a growth of 41.2% and 39.4% year-over-year[10] - Adjusted net profit per ADS was RMB 2.77 (USD 0.38), a 1.1% increase from RMB 2.74 in Q1 2024[10] - Net profit rose by 40.9% to RMB 2,039.2 million (USD 281.0 million) from RMB 1,447.7 million year-over-year[24] - Adjusted net profit was RMB 2,259.3 million (USD 311.3 million), slightly up from RMB 2,224.0 million in the same period last year[25] Revenue and Volume Growth - The total package volume increased by 19.1% to 8.5 billion packages[9] - The total package volume reached 8.539 billion, an increase of 19.1% compared to 7.171 billion in the same period of 2024[14] - Core express service revenue increased by 9.8%, driven by a package volume growth of 19.1% despite a 7.8% decline in package unit price[16] - The company reaffirmed its full-year business volume growth guidance of 20%-24%[8] - The company reaffirmed its 2025 package volume guidance of 40.8 billion to 42.2 billion pieces, representing a year-over-year growth of 20% to 24%[32] Operating Costs and Expenses - Operating costs totaled RMB 8.202 billion (USD 1.130 billion), up 17.9% from RMB 6.958 billion in the previous year[17] - Total operating expenses were RMB 283.8 million (USD 39.1 million), down from RMB 735.4 million in the same period last year[21] - Sales, general and administrative expenses decreased by 17.7% to RMB 737.5 million (USD 101.6 million) from RMB 896.6 million year-over-year[21] Cash Flow and Investments - Operating cash flow generated was RMB 2,363.0 million (USD 325.6 million), up from RMB 2,031.0 million in Q1 2024[10] - Cash flow from operating activities was RMB 2,363.0 million (USD 325.6 million), compared to RMB 2,031.0 million in the previous year[28] - The net cash generated from operating activities for the three months ended March 31, 2025, was RMB 2,362,976, compared to RMB 2,031,020 for the same period in 2024, representing an increase of about 16.2%[45] - The company reported a net cash used in investing activities of RMB (3,158,465) for the three months ended March 31, 2025, compared to RMB (2,378,652) in 2024, reflecting an increase in investment outflows of approximately 32.7%[45] Assets and Liabilities - As of March 31, 2025, total assets amounted to RMB 93,149,512, an increase from RMB 92,340,330 as of December 31, 2024, reflecting a growth of approximately 0.88%[44] - The total current liabilities as of March 31, 2025, were RMB 29,056,430, an increase from RMB 28,273,235 as of December 31, 2024, reflecting a growth of approximately 2.8%[44] - The total liabilities as of March 31, 2025, were RMB 30,283,714, an increase from RMB 29,665,497 as of December 31, 2024, representing a growth of about 2.1%[44] Shareholder Returns - The board approved a share repurchase plan with a total value of up to USD 2 billion, with USD 1,228.3 million spent to repurchase 50,899,498 ADS as of March 31, 2025[31] Operational Efficiency - The number of sorting centers increased to 95, with 91 operated by the company and 4 by network partners as of March 31, 2025[14] - The company has 10,000 owned trunk vehicles, with over 9,400 being high-capacity models, reflecting an increase in operational efficiency[14] - The company continues to rely on its scalable network partner model to support the rapid growth of e-commerce in China, enhancing its operational efficiency[39]

Financial Performance - Revenue for the fiscal year ended March 31, 2025, was RMB 71,552 million, a decrease of RMB 1,015 million or 1.4% compared to RMB 72,567 million in 2024[2] - Gross profit decreased by RMB 722 million or 4.0%, from RMB 17,958 million in 2024 to RMB 17,236 million in 2025[2] - Operating profit turned positive at RMB 1,425 million, compared to an operating loss of RMB 1,009 million in the previous year[2] - Net profit for the year was RMB 386 million, a significant turnaround from a net loss of RMB 1,668 million in 2024[2] - Basic and diluted earnings per share for 2025 were RMB 0.04, compared to a loss of RMB 0.17 per share in 2024[2] - The net profit margin for the fiscal year ending March 31, 2025, was 0.5%, an increase of 2.8 percentage points from a net loss margin of 2.3% in the previous year[68] Assets and Liabilities - Total assets decreased by RMB 4,742 million or 7.8%, from RMB 60,715 million in 2024 to RMB 55,973 million in 2025[2] - Total liabilities decreased by RMB 3,376 million or 8.7%, from RMB 38,921 million in 2024 to RMB 35,545 million in 2025[2] - Net cash decreased by RMB 3,975 million or 24.1%, from RMB 16,504 million in 2024 to RMB 12,529 million in 2025[2] Revenue Breakdown - Revenue from customer contracts recognized at a point in time was RMB 68,482 million, down from RMB 69,431 million in the previous year[12] - Rental income from tenants decreased to RMB 3,034 million from RMB 3,120 million[12] - Membership fee revenue increased to RMB 0.36 billion, a growth of 125.0% from RMB 0.16 billion, attributed to the expansion of membership stores and an increase in membership numbers[58] Expenses - The company reported a significant reduction in selling and marketing expenses, which fell from RMB 18,178 million in 2024 to RMB 15,232 million in 2025[4] - Employee benefits expenses amounted to RMB 8,306 million, a reduction of 13.1% from RMB 9,558 million in the previous year[17] - Administrative expenses were RMB 1.709 billion, a decrease of 24.1% from RMB 2.251 billion, with the expense ratio dropping to 2.4% from 3.1%[64] Taxation - The total income tax expense for the fiscal year ending March 31, 2025, was RMB 644 million, significantly higher than RMB 234 million in the previous year[26] - Approximately 44% of the company's Chinese subsidiaries benefited from preferential tax rates for small and micro enterprises for the fiscal year ending March 31, 2025, compared to 41% in the previous year[27] Cash Flow - The net cash inflow from operating activities for the fiscal year ending March 31, 2025, was RMB 3.549 billion, a significant increase of 283.3% from RMB 926 million in the previous year[71] - The cash outflow from investing activities for the fiscal year ending March 31, 2025, was RMB 4.913 billion, an increase of RMB 4.861 billion from RMB 52 million in the previous year[73] - The cash outflow from financing activities for the fiscal year ending March 31, 2025, was RMB 3.750 billion, an increase of 176.1% from RMB 1.358 billion in the previous year[74] Dividends - The company declared a final dividend of HKD 0.170 per share (equivalent to RMB 0.156) for the year ended March 31, 2025, compared to HKD 0.020 per share (equivalent to RMB 0.018) for the year ended March 31, 2024[36] - The company paid a total of RMB 1.70 billion in dividends to its owners for the year ended March 31, 2025, compared to RMB 401 million for the year ended March 31, 2024[38] Operational Strategy - The company plans to continue focusing on cost management and operational efficiency to improve profitability in the upcoming fiscal year[2] - The group aims to enhance customer experience through a "Everyday Low Price + Community Life Center" model, focusing on product quality, operational efficiency, and employee satisfaction[87] - The group is actively expanding its store network, having secured three new locations for hypermarkets through lease agreements or land acquisitions[84] Market Position - The company has a diversified customer base with no single customer accounting for more than 10% of total revenue[12] - The group operates primarily in offline physical stores and online sales channels within China, indicating a focused market strategy[11] Compliance and Reporting - The company has not applied any new accounting standards that have not yet come into effect during the reporting period[10] - The group’s financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards, ensuring compliance with local regulations[9] - The company’s auditors have reviewed the consolidated financial statements for the year ending March 31, 2025[94]

Financial Performance - For the year ended December 31, 2024, the group's revenue was approximately RMB 21.9 million, a decrease of about RMB 3.5 million or 13.7% compared to RMB 25.4 million for the year ended December 31, 2023[4] - The group's gross profit margin decreased from approximately 16.4% for the year ended December 31, 2023, to approximately -9.8% for the year ended December 31, 2024[4] - The loss for the year ended December 31, 2024, was approximately RMB 17.8 million, a reduction of RMB 66.8 million compared to a loss of RMB 84.6 million for the year ended December 31, 2023[4] - Basic loss per share for the year ended December 31, 2024, was approximately RMB 0.06, compared to RMB 0.38 for the year ended December 31, 2023[4] - For the fiscal year ending December 31, 2024, the total reported segment revenue was RMB 21,948,000, compared to RMB 25,424,000 for the fiscal year ending December 31, 2023, reflecting a decrease of approximately 13.7%[23][24] - The adjusted EBITDA for the fiscal year 2024 was RMB 612,000, significantly lower than RMB 8,151,000 in 2023, indicating a decline of approximately 92.5%[25] - The company reported a net loss before tax of RMB 17,814,000 for 2024, an improvement from a loss of RMB 77,785,000 in 2023[25][28] - The company recognized a loss of RMB 1,082,000 for impairment of prepaid supplier payments in 2024, down from RMB 4,254,000 in 2023, showing a decrease of approximately 74.6%[25][26] - The total other income for 2024 was RMB 200,000, a decrease from RMB 588,000 in 2023, reflecting a decline of approximately 66.0%[26] - The company incurred financial expenses of RMB 171,000 in 2024, down from RMB 885,000 in 2023, representing a reduction of approximately 80.7%[25][28] - The group's gross loss for the year was approximately RMB 2.2 million, with a gross loss margin of 9.8%, down from a gross profit margin of 16.4% in 2023[48] Revenue Breakdown - For the year ending December 31, 2024, the total revenue before agency fees was RMB 28,516,000, a decrease of 19.6% from RMB 35,504,000 in 2023[17] - Revenue from traditional offline media advertising services was RMB 10,903,000, down 35.5% from RMB 16,915,000 in 2023[16] - Online media advertising services generated revenue of RMB 3,843,000, a decrease of 31.3% from RMB 5,601,000 in 2023[16] - Revenue from public relations, marketing activities, and other services increased to RMB 7,202,000, up 147.0% from RMB 2,908,000 in 2023[16] - The revenue from immediate recognition of contracts was RMB 11,254,000 for 2024, compared to RMB 4,242,000 for 2023, indicating an increase of approximately 165.5%[23][24] Assets and Liabilities - The total current assets increased to RMB 57.84 million for the year ended December 31, 2024, from RMB 26.28 million for the year ended December 31, 2023[7] - The total current liabilities decreased to RMB 23.62 million for the year ended December 31, 2024, from RMB 40.58 million for the year ended December 31, 2023[7] - The company's equity increased to RMB 34.87 million as of December 31, 2024, compared to a deficit of RMB 14.30 million as of December 31, 2023[7] - Trade receivables decreased to RMB 82,795,000 in 2024 from RMB 106,292,000 in 2023, a decline of approximately 22%[36] - The impairment loss on trade receivables was reduced to RMB 80,479,000 in 2024 from RMB 95,102,000 in 2023, indicating an improvement in collection efforts[36] - Total other receivables, deposits, and prepayments increased to RMB 51,447,000 in 2024 from RMB 1,416,000 in 2023, reflecting a substantial growth in these assets[38] - Trade payables decreased to RMB 4,179,000 in 2024 from RMB 11,918,000 in 2023, a decrease of approximately 65%[41] Shareholder and Dividend Information - A major shareholder has committed to provide financial support of RMB 15 million to ensure the group's continued operation for at least 18 months from the date of the financial statements[9] - The board of directors did not recommend the payment of a final dividend for the year ended December 31, 2024, consistent with the previous year[4] - The group did not recommend any dividend payments for the year ending December 31, 2024, consistent with 2023[33] - The board has resolved not to recommend the payment of a final dividend for the year, consistent with 2023[68] Corporate Governance and Compliance - The company has established an audit committee consisting of three independent non-executive directors to oversee internal audit functions and financial reporting processes[76] - The company has complied with the corporate governance code throughout the year ending December 31, 2024[71] - The company has adopted trading regulations for directors in accordance with GEM Listing Rules, ensuring compliance throughout the year[74] - The company has applied the principles and provisions of the corporate governance code as part of its governance practices[70] Future Outlook and Strategic Initiatives - The group plans to consolidate traditional outdoor and community media business opportunities while exploring new media operations and innovative technologies such as AIGC[45] - The group aims to expand into Web3, virtual digital assets, and metaverse technology applications to derive new industrial business opportunities[50] - The company is currently assessing the impact of upcoming financial reporting standards that will take effect in 2025 and 2026, with no significant impact expected on the consolidated financial statements[13] - There are currently no plans for significant investments or capital assets in the future[67] - The company has not purchased, sold, or redeemed any of its listed securities during the year[73] - The company has requested a suspension of trading of its shares on GEM pending the publication of its annual results for the year ending December 31, 2024[78] Employee and Operational Metrics - As of December 31, 2024, the group had 36 full-time employees, a decrease from 43 in 2023, with total compensation amounting to RMB 8.6 million, down from RMB 10.0 million in 2023[64] - The total employee costs, including directors' remuneration, decreased to RMB 8,618,000 in 2024 from RMB 10,021,000 in 2023, a reduction of approximately 14.0%[28] - The group's sales expenses for the year were approximately RMB 2.2 million, a decrease from RMB 4.3 million in 2023[51] - The group's administrative expenses increased to approximately RMB 9.1 million from RMB 8.6 million in 2023[52]

Financial Performance - For Q1 2025, GDS Holdings reported a net revenue of RMB 2,723.2 million (USD 375.3 million), representing a year-over-year increase of 12.0% from RMB 2,432.2 million[12]. - The net profit for Q1 2025 was RMB 764.1 million (USD 105.3 million), a significant turnaround from a net loss of RMB 344.9 million in Q1 2024[12]. - Adjusted EBITDA for Q1 2025 grew by 16.1% year-over-year to RMB 1,323.8 million (USD 182.4 million), with an adjusted EBITDA margin of 48.6%[12]. - Gross profit for Q1 2025 was RMB 644.8 million (USD 88.9 million), up 23.7% from RMB 521.2 million in Q1 2024, with a gross margin of 23.7%[14]. - Adjusted gross profit for Q1 2025 was RMB 1,455.4 million (USD 200.6 million), reflecting a 14.6% increase from RMB 1,270.1 million in the prior year[15]. - The net profit for Q1 2025 was RMB 764.1 million (USD 105.3 million), a significant improvement from a net loss of RMB 344.9 million in the same period last year[19]. - Adjusted EBITDA for Q1 2025 was RMB 1,323.8 million (USD 182.4 million), representing a 16.1% increase from RMB 1,140.7 million in Q1 2024[20]. - The adjusted EBITDA margin for Q1 2025 was 48.6%, up from 46.9% in the same period last year, primarily due to a decrease in cash operating costs as a percentage of net income[22]. Operational Metrics - The total contracted and pre-contracted area as of March 31, 2025, was 649,561 square meters, an increase of 6.7% compared to 608,645 square meters a year earlier[12]. - The billing area increased by 14.6% year-over-year to 462,423 square meters as of March 31, 2025[12]. - The operating area billing rate improved to 75.7% from 73.5% in the same period last year[12]. - The total signed and pre-signed area at the end of Q1 2025 was 649,561 square meters, a year-over-year increase of 6.7%[24]. - The operational area at the end of Q1 2025 was 610,685 square meters, reflecting an 11.2% year-over-year increase[26]. - The company reported a billing area of 462,423 square meters at the end of Q1 2025, a 14.6% year-over-year increase[27]. Cash Flow and Debt - As of March 31, 2025, the company had cash of RMB 7,575.7 million (USD 1,044.0 million) and total short-term debt of RMB 4,735.8 million (USD 652.6 million)[23]. - Cash reserves decreased from RMB 7,867,659 thousand to RMB 7,575,709 thousand between December 31, 2024, and March 31, 2025[49]. - Total liabilities increased from RMB 49,979,995 thousand to RMB 49,015,114 thousand during the same period[49]. - The company reported a cumulative loss of RMB (6,044,372) thousand as of March 31, 2025[49]. - Long-term borrowings, excluding the current portion, were RMB 21,905,985 thousand as of December 31, 2024[49]. Strategic Initiatives - The company maintains its revenue guidance for 2025 at RMB 11,290 million to RMB 11,590 million and adjusted EBITDA guidance at RMB 5,190 million to RMB 5,390 million[30]. - The company anticipates growth in the high-performance data center market in Southeast Asia and expects to strengthen relationships with new and existing customers[45]. - The company plans to focus on expanding its service offerings and enhancing operational efficiency to improve profitability in the upcoming quarters[51]. Non-GAAP Metrics - The company utilizes adjusted EBITDA, adjusted EBITDA margin, adjusted gross profit, and adjusted gross profit margin as non-GAAP financial metrics to assess operational performance and set business goals[35]. - The company does not include gains or losses from discontinued operations in adjusted EBITDA and adjusted EBITDA margin, focusing on ongoing business performance[36]. - The adjusted EBITDA and adjusted gross profit metrics are presented as they are frequently used by analysts and investors to evaluate financial performance within the industry[37]. - The company emphasizes that non-GAAP financial metrics should not be considered in isolation from GAAP metrics, as they have limitations[37]. Research and Development - Research and development expenses for Q1 2025 were RMB 7.9 million (USD 1.1 million), down from RMB 10.0 million in the same quarter last year[16]. Interest and Other Expenses - Interest expenses for Q1 2025 decreased by 4.5% year-over-year to RMB 441.5 million (USD 60.8 million) due to lower borrowing levels and interest rates[17]. - The interest expense for the period was RMB 462,508 thousand, which is 19.0% of net revenue[60]. - The depreciation and amortization expenses for the three months ended March 31, 2024, were RMB 782,672 thousand, which is 32.1% of net revenue[60]. Asset Management - The company completed an asset-backed securities transaction in Q1 2025, resulting in a net cash gain of RMB 583.3 million (USD 80.4 million) after reinvestment[29]. - The company holds long-term equity investments valued at RMB 7,544,555 thousand as of December 31, 2024[49]. - The net value of property and equipment was RMB 40,204,133 thousand as of December 31, 2024[49]. Market Position - The company operates high-performance data centers strategically located in major economic centers, catering to significant demand for data center services[42]. - The company provides a range of managed services, including hybrid cloud services and managed network services, to meet the needs of large clients[43]. - The company has a 24-year track record in service delivery, successfully meeting the demands of some of China's largest clients for data center outsourcing[43].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公布的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公布全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 CHINESE PEOPLE HOLDINGS COMPANY LIMITED 中 民 控 股 有 限 公 司 (incorporated in Bermuda with limited liability) (stock code: 681) 有關截至 2024 年 12 月 31 日止年度之年報之補充公布 除 2024 年報中作出之披露外，本公司謹此根據上市規則第 17.07(2)條向本公司股東及潛 在投資者提供在董事會報告「購股權」一節所載下列有關購股權計劃已授出購股權之補 充資料。 根據購股權計劃授權可授出之購股權數目為 694,495,413 份購股權（「購股權」）。於 2024 年報日期，概無向任何承授人授出購股權。因此，截至 2024 年 1 月 1 日及 2024 年 12 月 31 日，根據計劃授權可授出之購股權數目維持不變，為 694,495,413 份購股權。 除本公布內所披露者外 ...

Financial Performance - Total net revenue for Q1 2025 reached RMB 7.003 billion (USD 965 million), a year-on-year increase of 24%[11] - Gross profit amounted to RMB 2.539 billion (USD 350 million), representing a 58% year-on-year increase, with a gross margin of 36.3% compared to 28.3% in the same period of 2024[11] - Adjusted net profit for Q1 2025 was RMB 362 million (USD 49.8 million), compared to an adjusted net loss of RMB 456 million in the same period of 2024[11] - Operating profit was RMB 15 million (USD 2.1 million), a significant recovery from an operating loss of RMB 819 million in the same period last year[15] - Adjusted operating profit was RMB 342 million (USD 47.2 million), compared to an adjusted operating loss of RMB 512 million in 2024[15] - Net loss narrowed by 99% to RMB 107 million (USD 15 million) year-over-year[16] - The company reported a net loss of RMB 764.63 million for the three months ended March 31, 2024, compared to a net profit of RMB 88.93 million in the same period of the previous year[28] - The adjusted net loss attributable to Bilibili Inc. shareholders for the three months ended March 31, 2024, was RMB 439,796, with an expected improvement to a profit of RMB 363,088 by March 31, 2025[37] User Engagement - Daily active users (DAUs) reached 106.7 million, while monthly active users (MAUs) hit a record high of 368 million[11] - The average age of users reached 26 years, indicating a maturing user base with increasing purchasing power[11] - The company plans to continue expanding its product and service offerings to enhance user engagement and retention[27] Revenue Breakdown - Advertising revenue was RMB 1.998 billion (USD 275 million), up 20% year-on-year, driven by strong growth in performance-based advertising[12] - Mobile gaming revenue surged to RMB 1.731 billion (USD 239 million), a 76% increase year-on-year, primarily due to the strong performance of the exclusive licensed game "Three Kingdoms: Strategize the World"[13] - Revenue from value-added services was RMB 2.807 billion (USD 387 million), an 11% increase year-on-year, mainly due to growth in live streaming and other value-added services[12] Operating Expenses - Total operating expenses amounted to RMB 2.524 billion (USD 348 million), an increase of 4% compared to the same period in 2024[14] - Sales and marketing expenses were RMB 1.167 billion (USD 161 million), up 26% year-over-year, primarily due to a partnership with CCTV for exclusive live streaming during the 2025 Spring Festival Gala[14] - Research and development expenses decreased by 13% to RMB 841 million (USD 116 million) due to improved R&D efficiency[14] Cash Flow and Assets - Operating cash flow for the quarter was RMB 1.302 billion (USD 179 million), significantly up from RMB 638 million in Q1 2024[11] - Cash generated from operating activities was RMB 1.302 billion (USD 179 million), up from RMB 638 million in the same period last year[16] - As of March 31, 2025, cash and cash equivalents, along with short-term investments, totaled RMB 17.397 billion (USD 2.397 billion)[16] - The company's cash and cash equivalents decreased from RMB 10,249,382 on December 31, 2024, to RMB 9,601,900 by March 31, 2025, a decline of 6.34%[32] Future Outlook - The company aims to continue expanding its business and community through efficient and sustainable operations, focusing on profit growth and long-term shareholder value[12] - Future guidance indicates expected total net revenue of RMB 7,734.16 million for the year ending December 31, 2024[28] - The company is focusing on improving its operational efficiency and managing costs effectively to mitigate losses[27] Shareholder Information - The weighted average number of ordinary shares outstanding was 415,274,340 for the three months ended March 31, 2024[28] - The weighted average number of ordinary shares outstanding (basic) increased from 415,274,340 for the three months ended March 31, 2024, to 420,086,397 by March 31, 2025[37]

Financial Performance - Hotel revenue for Q1 2025 increased by 14.3% year-over-year to RMB 22.5 billion, and by 15.3% excluding Steigenberger Hotels GmbH[6] - Total revenue for Q1 2025 grew by 2.2% year-over-year to RMB 5.4 billion (approximately $744 million), aligning with previous guidance[6] - Net profit attributable to the company for Q1 2025 was RMB 894 million (approximately $123 million), compared to RMB 659 million in Q1 2024[6] - EBITDA for Q1 2025 was RMB 1.6 billion (approximately $222 million), up from RMB 1.3 billion in Q1 2024[6] - Adjusted EBITDA for Q1 2025 was RMB 1.5 billion (approximately $206 million), compared to RMB 1.4 billion in Q1 2024[6] - Operating profit for Q1 2025 was RMB 1.1 billion (approximately $149 million), a year-over-year increase of 7.9%[16] - The company recorded a net profit attributable to Huazhu Group Limited of RMB 894 million (approximately $123 million), a year-over-year increase of 35.7%[17] - The adjusted net profit (non-GAAP) for the quarter was RMB 771 million, compared to RMB 321 million in the previous quarter, indicating strong operational performance[41] - The adjusted EBITDA for the same quarter was RMB 1,421 million, up from RMB 1,246 million in the previous quarter, reflecting a strong operational performance[42] Revenue Expectations - The company expects Q2 2025 revenue to grow between 1% to 5% year-over-year, or 3% to 7% excluding DH[7] - The company expects revenue growth for Q2 2025 to be between 1% to 5% compared to Q2 2024, or between 3% to 7% excluding DH[20] - Management and franchise income is projected to increase by 18% to 22% compared to Q2 2024[20] Hotel Operations - As of March 31, 2025, the company operated 11,685 hotels with a total of 1,142,158 rooms[6] - The company opened 694 hotels in Q1 2025 and closed 155 hotels during the same period[8] - In Q1 2025, the company opened 694 new hotels in China, aiming for a total of approximately 2,300 new hotels for the year[11] - The total number of hotels as of March 31, 2025, was 11,564, with a net increase of 539 hotels during the first quarter of 2025[45] - The company has 2,865 hotels in the pipeline, indicating ongoing expansion plans[46] - The company has 2,888 hotels in the pipeline, indicating significant future expansion potential[52] Financial Position - As of March 31, 2025, the company's total cash and cash equivalents amounted to RMB 8.2 billion (approximately $1.1 billion), with restricted cash of RMB 121 million (approximately $16 million)[19] - The total debt and net cash balance as of March 31, 2025, were RMB 5.3 billion (approximately $726 million) and RMB 3.0 billion (approximately $418 million), respectively[19] - Total assets decreased from RMB 62,552 million on December 31, 2024, to RMB 61,559 million by March 31, 2025[32] - Total liabilities increased from RMB 50,281 million to RMB 50,937 million during the same period[33] - The company reported a decrease in total equity from RMB 12,271 million to RMB 10,622 million[33] - Short-term debt decreased slightly from RMB 880 million to RMB 849 million[33] - The company has a total of RMB 1,864 million in deferred revenue as of March 31, 2025[33] - Huazhu Group's goodwill increased from RMB 5,221 million to RMB 5,300 million[32] Market Strategy - The company continues to implement a light-asset strategy, focusing on quality network expansion and enhancing brand positioning[11] - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and customer experience[40] Non-GAAP Measures - The company utilizes non-GAAP financial measures such as adjusted net profit and adjusted EBITDA to provide meaningful supplemental information regarding its performance[23] - EBITDA is considered a useful financial indicator reflecting operational and financial performance before financing and tax impacts[24] - The company believes that adjusted EBITDA better reflects its financial performance capabilities[25] - The use of EBITDA and adjusted EBITDA has certain limitations, as it does not account for depreciation, amortization, interest expenses, and income taxes[25] - The company emphasizes that non-GAAP measures should not be viewed as substitutes for GAAP financial measures[26] Hotel Segment Performance - Revenue from the Legacy-Huazhu segment in Q1 2025 was RMB 4.5 billion, a year-over-year increase of 5.5% driven by ongoing hotel network expansion[13] - The average daily rate for Legacy-Huazhu hotels in Q1 2025 was RMB 272, down from RMB 280 in Q1 2024[9] - The occupancy rate for Legacy-Huazhu hotels in Q1 2025 was 76.2%, compared to 77.2% in Q1 2024[9] - The occupancy rate for all operating Legacy-DH hotels in Q1 2025 was 61.1%, up from 55.8% in Q1 2024 but down from 70.5% in the previous quarter[12] - The revenue from management franchise and licensed hotels in Q1 2025 was RMB 2.5 billion (approximately $344 million), a year-over-year increase of 21.1%[14] - The average daily room rate for leased and owned hotels decreased by 2.2% year-over-year to RMB 346, while the occupancy rate dropped by 1.3 percentage points to 81.0%[47] - The average revenue per available room (RevPAR) for leased and owned hotels decreased by 3.8% year-over-year to RMB 280[47] Conference Call - The company will hold a conference call on May 20, 2025, to discuss its financial results[22]

User Growth and Engagement - As of March 31, 2025, the platform has connected with 163 financial institution partners and 268.2 million consumers with potential credit needs, an increase of 11.1% from 241.4 million a year ago[5] - The number of users with approved credit limits reached 58.4 million, up 11.6% from 52.3 million as of March 31, 2024[5] Loan Performance - The total loan volume facilitated reached RMB 88,883 million, a 15.8% increase from RMB 76,784 million in the same period last year[5] - The total outstanding loan balance was RMB 140,273 million, reflecting a 5.5% increase from RMB 132,964 million as of March 31, 2024[5] - The 90-day+ delinquency rate for loans was 2.02% as of March 31, 2025[5] - The first-day overdue rate was 5.0%, while the 30-day recovery rate was 88.1%, indicating stable risk performance despite macroeconomic fluctuations[10] - The weighted average contract term for loans initiated by financial institutions was approximately 10.17 months, slightly up from 10.10 months in the same period last year[5] Financial Performance - Total net revenue for the first quarter was RMB 4,690.7 million (USD 646.4 million), compared to RMB 4,482.3 million in the previous quarter[10] - Net profit for the first quarter was RMB 1,796.6 million (USD 247.6 million), down from RMB 1,912.7 million in the previous quarter[10] - Non-GAAP net profit was RMB 1,926.2 million (USD 265.4 million), compared to RMB 1,972.4 million in the previous quarter[10] - The company reported a diluted net income per American Depositary Share (ADS) of RMB 12.62 (USD 1.74), down from RMB 13.24 in the previous quarter[10] - Total revenue for Q1 2025 reached RMB 4.69 billion (USD 646.4 million), an increase from RMB 4.15 billion in Q1 2024 and RMB 4.48 billion in the previous quarter[13] - Net profit under non-GAAP was RMB 1.93 billion (USD 272.1 million), compared to RMB 1.41 billion in Q1 2024 and RMB 1.95 billion in the previous quarter[18] Operating Costs and Profitability - Operating costs totaled RMB 2.72 billion (USD 374.3 million), a decrease from RMB 2.79 billion in Q1 2024 and an increase from RMB 2.59 billion in the previous quarter[15] - Operating profit margin was 42.1%, with a non-GAAP operating profit margin of 44.9%[19] - The company reported a net profit attributable to the company of RMB 1,800.2 million ($248.1 million), compared to RMB 1,164.3 million in the same period of 2024[20] Future Outlook and Investments - The company plans to continue investing in AI technology to enhance its credit services and improve operational efficiency[10] - The company plans to generate net profit of RMB 1.65 billion to RMB 1.75 billion for Q2 2025, reflecting a year-over-year growth of 24% to 31%[30] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[45] Share Repurchase and Financing - The board approved a share repurchase plan allowing the company to repurchase up to $450 million worth of American Depositary Shares or Class A ordinary shares[28] - The company issued USD 690 million in convertible notes to support its share repurchase plan, enhancing its financial foundation[18] - The company issued $690 million of convertible preferred notes due in 2030, with plans to use the net proceeds for additional share repurchases[29] Cash Flow and Assets - The company’s cash and cash equivalents increased to RMB 8,578,822 thousand as of March 31, 2025, up from RMB 4,452,416 thousand as of December 31, 2024, representing a growth of 93.5%[43] - The company reported a total asset value of RMB 55,627,168 thousand as of March 31, 2025, equivalent to approximately USD 7,665,629 thousand[43] - Operating cash flow for the three months ended March 31, 2025, was RMB 2,805,685, an increase of 43.4% compared to RMB 1,958,267 in 2024[48] Liabilities and Equity - Total liabilities increased to RMB 32,511,226 thousand as of March 31, 2025, compared to RMB 23,886,399 thousand as of December 31, 2024, indicating a rise of 36.5%[44] - The company’s equity totalled RMB 23,115,942 thousand as of March 31, 2025, down from RMB 24,246,219 thousand as of December 31, 2024, showing a decrease of 4.7%[44] - The company’s non-current liabilities surged to RMB 16,133,988 thousand as of March 31, 2025, from RMB 6,414,190 thousand as of December 31, 2024, reflecting a significant increase of 150.5%[44] Non-GAAP Financial Measures - The company emphasizes the importance of non-GAAP financial measures to enhance understanding of past performance and future outlook, despite potential differences in calculation methods compared to other companies[39] - The company’s financial data should be viewed as supplementary to GAAP results, not as a substitute or superior alternative[39] - The company’s net profit margin, calculated using non-GAAP measures, is expected to provide insights into operational performance trends, excluding stock-based compensation expenses[39] Comprehensive Income - The company reported a total comprehensive income of RMB 1,784,813 for the three months ended March 31, 2025, compared to RMB 1,166,297 in 2024, marking a significant increase[49] - Non-GAAP net profit for the three months ended March 31, 2025, was RMB 1,929,789, up from RMB 1,208,932 in 2024, indicating a growth of 59.5%[51] Earnings Per Share - Basic earnings per share for ordinary shares increased to RMB 6.41 in 2025 from RMB 3.73 in 2024, reflecting a growth of 71.5%[46] - The diluted earnings per American Depositary Share under GAAP was RMB 12.62 ($1.74)[21] - The diluted non-GAAP earnings per American Depositary Share was RMB 13.53 ($1.86)[22]

Financial Performance - In Q1 2025, Trip.com Group reported net revenue of RMB 13.8 billion (USD 1.9 billion), a year-over-year increase of 16% and a quarter-over-quarter increase of 9%[5]. - The company's operating income from hotel bookings was RMB 5.5 billion (USD 764 million), up 23% year-over-year, driven by increased bookings[5]. - Transportation ticketing revenue reached RMB 5.4 billion (USD 747 million), reflecting an 8% year-over-year increase[7]. - The adjusted EBITDA for Q1 2025 was RMB 4.2 billion (USD 586 million), compared to RMB 4.0 billion in the same quarter of 2024[9]. - The net profit for Q1 2025 was RMB 4.3 billion (USD 596 million), consistent with the same period in 2024 and up from RMB 2.2 billion in the previous quarter[9]. - Total revenue for Q1 2024 reached RMB 11,921 million, a 9% increase compared to Q4 2023[21]. - Net income for Q1 2024 was RMB 4,325 million, significantly higher than RMB 2,191 million in Q4 2023[22]. - Adjusted EBITDA for Q1 2024 was RMB 3,974 million, with an adjusted EBITDA margin of 33%[23]. - The company reported a gross profit of RMB 9,667 million for Q1 2024, reflecting a gross margin of approximately 81%[21]. Cash and Investments - The company’s cash and cash equivalents, restricted cash, and short-term investments totaled RMB 92.9 billion (USD 12.8 billion) as of March 31, 2025[10]. - Cash and cash equivalents, along with restricted cash, were reported at RMB 51.093 billion as of December 31, 2024, increasing to RMB 56.360 billion by March 31, 2025[19]. - The company repurchased approximately 1.6 million American Depositary Shares (ADS) for a total consideration of about USD 84 million as part of its capital return policy[11]. Expenses - Research and development expenses for Q1 2025 were RMB 3.5 billion (USD 486 million), a 13% increase year-over-year[7]. - Sales and marketing expenses rose to RMB 3.0 billion (USD 413 million), a 30% increase compared to the same quarter last year[8]. - The total operating expenses for Q1 2024 were RMB 6,352 million, which is a 19% increase compared to Q4 2023[21]. - Research and development expenses for Q1 2024 were RMB 3,109 million, representing a 6% increase from Q4 2023[21]. Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 242.581 billion, with a projected increase to RMB 247.762 billion by March 31, 2025[19]. - The total liabilities increased from RMB 99.099 billion as of December 31, 2024, to RMB 100.776 billion by March 31, 2025[20]. - Shareholders' equity for the company rose from RMB 141.807 billion as of December 31, 2024, to RMB 145.153 billion by March 31, 2025[20]. Strategic Focus - The company emphasizes the importance of strategic investments and acquisitions to drive future growth and mitigate competitive risks[16]. - The management highlighted ongoing development in new products and technologies to enhance user experience and market position[16]. - The company aims to expand its market presence, particularly in Asia, to capture a larger share of the travel industry[17]. Forward-Looking Statements - Forward-looking statements indicate potential risks related to economic fluctuations and competition that could impact future performance[14]. - The adjusted EBITDA margin is expected to provide insights into the company's operational efficiency and profitability trends[15]. - The company reported a net profit attributable to shareholders under non-GAAP measures, which enhances comparability of operational data across periods[15]. Earnings Per Share - The company’s earnings per share (diluted) for Q1 2024 was RMB 6.38, up from RMB 3.09 in Q4 2023[22]. - The average diluted shares outstanding increased to 675,933,592 for Q1 2024, compared to 656,190,044 in Q4 2023[22]. Interest Income - Interest income for Q1 2024 was RMB 592 million, while interest expenses were RMB 499 million, resulting in a net interest income of RMB 93 million[23].

Share Option Plan - The new share option plan was adopted in 2022, allowing the company to grant options to selected eligible participants as a reward for their contributions[3]. - The remaining duration of the new share option plan is approximately 7.24 years as of December 31, 2024[4]. - As of December 31, 2024, the number of options available for grant under the new share option plan is zero shares[4]. - The maximum allocation for each participant under the new share option plan cannot exceed 1% of the issued shares[5]. - The company has not implemented any other share option plans that comply with GEM Listing Rules Chapter 23 as of the fiscal year ending December 31, 2024[6].