BTG Hotels(SH:600258)2021-10-19 16:00Financial Performance - The company's operating revenue for Q3 2021 was ¥1,581,879,312.93, a decrease of 5.38% compared to the same period last year[2]. - The net profit attributable to shareholders was ¥59,872,898.54, down 57.25% year-on-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥44,202,596.22, a decrease of 66.66% compared to the previous year[2]. - The basic earnings per share for Q3 2021 was ¥0.0610, down 57.33% year-on-year[3]. - The total profit for the company from January to September 2021 was 165.33 million RMB, an increase of 842.16 million RMB compared to the same period last year[15]. - The net profit attributable to shareholders for the first nine months of 2021 was 125.09 million RMB, an increase of 680.10 million RMB year-over-year, with earnings per share of 0.1276 RMB, up 0.6953 RMB year-over-year[15]. - Operating profit for Q3 2021 was ¥162,673,606.24, compared to a loss of ¥669,381,393.29 in Q3 2020, indicating a strong turnaround[31]. - The company reported a total comprehensive income of ¥105,124,645.82 for Q3 2021, recovering from a loss of ¥595,479,379.34 in the same quarter last year[32]. Cash Flow and Assets - The cash flow from operating activities for the year-to-date was ¥1,803,569,568.91, an increase of 939.15% compared to the previous year[3]. - The company's cash and cash equivalents as of September 30, 2021, were approximately 1.33 billion RMB, down from 1.37 billion RMB at the end of 2020[26]. - The company’s cash and cash equivalents at the end of Q3 2021 totaled ¥1,307,052,969.82, down from ¥1,017,106,337.81 at the end of Q3 2020[36]. - The company incurred a net cash outflow from investing activities of ¥401,345,010.61 in Q3 2021, an improvement from a net outflow of ¥691,744,369.39 in Q3 2020[35]. - The total assets at the end of the reporting period were ¥25,287,860,449.07, an increase of 52.04% from the end of the previous year[3]. - Cash and cash equivalents increased to ¥188,673,423.66 in Q3 2021 from ¥145,555,950.84 in Q3 2020, reflecting a growth of about 29.5%[30]. - The company reported a long-term receivables increase to ¥301,937,078.77 in Q3 2021 from ¥153,784,276.57 in Q3 2020, representing a growth of approximately 96%[30]. Liabilities and Equity - Current liabilities totaled ¥6,325,389,633.14 in Q3 2021, compared to ¥4,894,382,149.33 in Q3 2020, representing an increase of approximately 29%[28]. - Non-current liabilities rose to ¥10,533,893,819.28 in Q3 2021 from ¥3,102,780,174.63 in Q3 2020, indicating a significant increase of about 239%[28]. - The total equity attributable to shareholders decreased to ¥8,184,514,942.54 in Q3 2021 from ¥8,380,002,205.19 in Q3 2020, a decline of approximately 2.3%[29]. - The company’s short-term borrowings surged to ¥1,581,337,222.30 in Q3 2021, compared to ¥600,000,000.00 in Q3 2020, indicating an increase of about 163%[28]. Market and Operational Developments - The company plans to continue expanding its market presence and developing new products in response to the recovery in performance[2]. - The company opened 325 new hotels in Q3 2021, including 70 mid-to-high-end hotels, bringing the total number of hotels to 5,455 as of September 30, 2021[18]. - The company has a total of 1,838 signed but not yet opened hotels, an increase of 239 from the end of Q2 2021, setting a new historical high[15]. - The company launched the "Shoumi Global Purchase" platform on September 16, 2021, which offers global products with advantages of "genuine products" and "zero tariff delivery" for members[15]. - The company plans to improve its asset structure and accelerate strategic development through a non-public stock issuance approved by the China Securities Regulatory Commission[15]. - The company aims to open 1,400 new hotels in 2021, supported by the historical high of signed projects[15]. - The company plans to continue expanding its hotel network, focusing on both direct management and franchising models to enhance market presence[24]. Performance Metrics - In Q3 2021, the company's RevPAR reached 124 RMB, a decrease of 0.6% year-over-year, with an average daily rate of 201 RMB, up 12.4% year-over-year, and an occupancy rate of 61.7%, down 8.1 percentage points year-over-year[19]. - The company reported a total of 5,454 hotels in China, with a total room count of 457,140, where hotels in Beijing, Shanghai, and surrounding regions accounted for 61.4% of the total hotel count[25]. - The average room rate for economy hotels in Q3 2021 was 166 RMB, reflecting an 11.1% increase year-over-year, while the occupancy rate was 64.8%, down by 8.8 percentage points[22]. - The total number of economy hotels was 2,154, with a RevPAR of 108 RMB, which represented a 2.2% decrease year-over-year[22]. - The occupancy rate for mid-range hotels was 59.9%, down by 7.8 percentage points year-over-year, with a RevPAR of 166 RMB, a decrease of 3.9% year-over-year[22].