锦江酒店(600754) - 2025 Q3 - 季度财报

Financial Performance - Total revenue for Q3 2025 was CNY 3,714,756,787.79, a decrease of 4.71% year-on-year[3] - Net profit attributable to shareholders was CNY 375,388,081.97, an increase of 45.45% compared to the same period last year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 430,895,576.94, up 72.18% year-on-year[3] - Total profit for the period was CNY 539,655,484.27, reflecting a year-on-year increase of 3.92%[3] - Basic earnings per share for Q3 2025 was CNY 0.35, an increase of 45.83% year-on-year[3] - For the first nine months of 2025, the company reported a consolidated operating revenue of RMB 1,024,111 million, down 5.09% year-on-year[13] - The net profit attributable to shareholders for the same period was RMB 74,606 million, a decrease of 32.52% year-on-year[13] - Total operating revenue for the first three quarters of 2025 was CNY 10,241,106,635.76, a decrease of 5.1% compared to CNY 10,790,338,252.67 in the same period of 2024[35] - Net profit for the first three quarters of 2025 was CNY 799,319,134.97, a decline of 37.7% compared to CNY 1,284,076,648.20 in 2024[37] - Operating profit for the first three quarters of 2025 was CNY 1,223,324,732.14, down 32.5% from CNY 1,813,883,988.10 in 2024[36] - Earnings per share for the first three quarters of 2025 was CNY 0.70, compared to CNY 1.03 in the same period of 2024[37] Assets and Liabilities - Total assets at the end of the reporting period were CNY 45,686,083,783.66, a decrease of 0.92% from the end of the previous year[4] - As of September 30, 2025, the total assets amounted to RMB 4,568,608 million, a decrease of 0.92% from the end of the previous year[12] - The total liabilities were RMB 2,958,476 million, down 2.77% from the end of the previous year[12] - Total liabilities as of the reporting date were CNY 29,584,757,998.32, a decrease from CNY 30,427,462,145.03 in the previous year[33] - The company's total liabilities decreased from approximately 13.98 billion CNY to 11.54 billion CNY year-on-year[32] - Total equity increased to CNY 16,101,325,785.34 from CNY 15,682,506,423.53 year-over-year[33] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 2,789,760,045.28, down 19.58% year-on-year[3] - The company's cash flow from operating activities showed a net inflow of RMB 278,976 million, a decrease of 19.58% year-on-year[15] - Operating cash flow for the first three quarters of 2025 was CNY 2,789,760,045.28, a decrease of 19.6% compared to CNY 3,468,880,561.14 in the same period of 2024[38] - Total cash inflow from investment activities decreased significantly to CNY 1,182,052,401.51, down 69.9% from CNY 3,920,687,271.63 in the previous year[39] - Net cash flow from financing activities was negative at CNY -3,619,638,182.17, an improvement from CNY -5,182,548,847.78 in the same period last year[39] Hotel Operations - The company opened 343 new hotels in Q3 2025, resulting in a net increase of 212 hotels[18] - As of September 30, 2025, the total number of opened hotels reached 14,008, with a total of 1,356,932 rooms[20] - The total number of hotels in operation as of September 30, 2025, was 14,008, with a net increase of 592 hotels compared to the previous year[42] - The total number of mid-range hotels opened was 8,724, with a net increase of 657 hotels in the first three quarters of 2025[42] - The total number of comparable hotels reached 10,641, with 6,914 mid-range hotels and 3,727 economy hotels[47] Revenue by Segment - The hotel business in mainland China generated revenue of RMB 721,865 million for the first nine months of 2025, a decrease of 1.99% year-on-year[17] - In Q3 2025, the company's full-service hotel business in mainland China achieved consolidated revenue of 60.8 million CNY, a year-on-year increase of 5.76%[22] - The limited-service hotel business in mainland China generated consolidated revenue of 2,583.3 million CNY, up 2.09% year-on-year; however, the service fee revenue decreased by 4.58% to 99.57 million CNY[22] - The food and beverage business generated consolidated revenue of 50.19 million CNY in Q3 2025, a decrease of 15.29% compared to the same period last year[26] - The company's limited-service hotel business outside mainland China reported consolidated revenue of 12.444 million EUR, a decline of 23.34% year-on-year[24] Performance Metrics - The weighted average return on net assets was 2.38%, an increase of 0.85 percentage points compared to the previous year[4] - The average room rate (ADR) for full-service hotels was 461.49 CNY, with an occupancy rate of 56.27%, resulting in a RevPAR of 259.68 CNY, reflecting a decrease of 4.65% year-on-year[23] - The average room rate for limited-service hotels was 245.01 CNY, with an occupancy rate of 69.77%, leading to a RevPAR of 170.94 CNY, down 1.99% year-on-year[23] - The average occupancy rate for limited-service hotels in Q3 2025 was 69.77%, a decrease from 73.36% in Q3 2024[45] - The average room rate for limited-service hotels in Q3 2025 was CNY 245.01, an increase from CNY 237.74 in Q3 2024[45] - The average occupancy rate for mid-range hotels decreased by 1.98% year-on-year to 66.67% in the first nine months of 2025, with direct-operated hotels at 69.16% and franchised hotels at 66.62%[47] - The average room price for mid-range hotels fell by 4.98% year-on-year to ¥248.95, with direct-operated hotels at ¥319.46 and franchised hotels at ¥247.51[47] - RevPAR (Revenue per Available Room) for mid-range hotels decreased by 7.72% year-on-year to ¥165.97, with direct-operated hotels at ¥220.94 and franchised hotels at ¥164.89[47] - The average occupancy rate for economy hotels decreased by 0.41% year-on-year to 60.66%, with direct-operated hotels at 59.30% and franchised hotels at 60.94%[47] - The average room price for economy hotels decreased by 6.00% year-on-year to ¥170.22, with direct-operated hotels at ¥175.96 and franchised hotels at ¥169.07[47] - RevPAR for economy hotels decreased by 6.63% year-on-year to ¥103.26, with direct-operated hotels at ¥104.34 and franchised hotels at ¥103.03[47] Shareholder Actions - The controlling shareholder's action plan to increase B shares includes acquiring between 9 million and 18 million shares within 12 months, with 15,270,030 shares held as of September 30, 2025[27]