BTG Hotels(SH:600258)2021-04-29 16:00Financial Performance - Operating revenue rose by 58.75% to CNY 1,271,193,020.88 year-on-year[4] - Net profit attributable to shareholders was a loss of CNY 181,932,006.97, an improvement of 65.41% from the previous year's loss[4] - Basic earnings per share improved by 65.41% to -0.1859 CNY per share[4] - The company reported a total profit of 217.44 million yuan in Q1 2021, a reduction in losses by 424.77 million yuan, marking a 66.14% improvement year-over-year[14] - The hotel business reported a total profit loss of 278.35 million yuan in Q1 2021, a reduction in losses by 357.95 million yuan, reflecting a 56.26% improvement year-over-year[14] - The company reported a decrease in undistributed profits to ¥1,902,091,121.89 from ¥2,447,104,427.52, a decline of 22.4%[40] - The company’s total comprehensive loss for Q1 2021 was RMB 191,904,638.86, compared to RMB 539,889,037.87 in Q1 2020, indicating a reduction in overall losses[49] Assets and Liabilities - Total assets increased by 50.51% to CNY 25,034,215,752.19 compared to the end of the previous year[4] - The company’s total liabilities increased significantly, with current liabilities due within one year rising by 135.53% to 232.36 million yuan due to the new leasing standards[16] - Total liabilities increased to ¥16,927,254,317.84, up from ¥7,997,162,323.96, representing a growth of 111.5% year-over-year[40] - Total equity attributable to shareholders decreased to ¥7,840,184,728.10 from ¥8,380,002,205.19, a decline of 6.4%[41] - The company’s long-term receivables increased by 96.88% to 302.77 million yuan, attributed to the new leasing standards[15] - The total assets as of January 1, 2021, amounted to CNY 25,588,449,454.91, reflecting adjustments from the new leasing standard[61] Cash Flow - Net cash flow from operating activities improved by 138.77% to CNY 200,199,827.77 compared to the same period last year[4] - Operating cash inflow for Q1 2021 was CNY 1,373,956,936.72, a significant increase from CNY 842,957,352.79 in Q1 2020, representing a growth of approximately 63.1%[53] - Cash and cash equivalents at the end of Q1 2021 amounted to CNY 84,430,314.38, up from CNY 21,758,923.13 at the end of Q1 2020, showing improved liquidity[56] - Cash inflow from investment activities in Q1 2021 was CNY 270,406,294.16, while cash outflow was CNY 381,913,929.45, resulting in a net cash flow of negative CNY 111,507,635.29, an improvement from negative CNY 295,941,157.68 in Q1 2020[55] Shareholder Information - The total number of shareholders reached 26,206 by the end of the reporting period[6] - The largest shareholder, Beijing Capital Tourism Group Co., Ltd., holds 34.37% of the shares[6] Business Operations - The company aims to accelerate its store opening strategy with a target of opening 1,400 to 1,600 new stores in 2021, having opened 184 stores in Q1 and reaching a record of 1,407 stores in reserve by the end of March[9] - The total number of members reached 128 million by March 31, 2021, representing a 6.72% increase compared to the end of Q1 2020[11] - The company has signed and is in the process of signing 1,407 new stores that are not yet opened[24] - The company has a total of 4,992 hotels as of March 31, 2021, with 437,861 rooms, covering 459 cities[20] Technology and Innovation - The company has adopted digital technologies such as 5G, cloud computing, and artificial intelligence to enhance hotel operations and customer experience[12] - The company implemented a new membership card system on March 28, 2021, enhancing member benefits focused on accommodation discounts and lifestyle experiences[11] Economic Outlook - The company anticipates that its operating conditions in the next reporting period will be significantly better than the same period last year due to the strong economic recovery in China[36] - The company has implemented a strategy focusing on domestic circulation and international dual circulation to enhance its recovery during the global economic rebound[36]