JINJIANG HOTELS(SH:600754)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥2,922,258,057.55, representing a 25.22% increase compared to ¥2,333,721,409.32 in the same period last year[3]. - Net profit attributable to shareholders was ¥130,254,102.66, a significant recovery from a loss of ¥121,722,589.88 in the previous year[3]. - The net cash flow from operating activities reached ¥1,312,570,255.48, marking a 1,175.81% increase from ¥102,881,103.89 in Q1 2022[3]. - Basic earnings per share improved to ¥0.1217 from a loss of ¥0.1122 in the same period last year[4]. - The total revenue from Jin Jiang Star Hotel Co., Ltd. was ¥177.64 million in Q1 2023, with a net profit of ¥71,000[27]. - Net profit for Q1 2023 was CNY 187,215,910.57, compared to a net loss of CNY 92,798,300.66 in Q1 2022[32]. - Profit attributable to shareholders of the parent company for Q1 2023 was CNY 130,254,102.66, a significant recovery from a loss of CNY 121,722,589.88 in Q1 2022[33]. - The company reported an investment income of CNY 128,242,171.86 in Q1 2023, up from CNY 104,406,891.54 in Q1 2022[32]. Assets and Liabilities - Total assets at the end of the reporting period were ¥48,244,325,478.56, a 1.71% increase from ¥47,431,068,107.77 at the end of the previous year[4]. - The total liabilities reached RMB 30,905.89 million, reflecting a growth of 2.06% year-over-year[13]. - The company’s current assets totaled ¥11.23 billion as of March 31, 2023, compared to ¥10.46 billion a year earlier[28]. - Total liabilities increased to CNY 30,905,885,168.91 in Q1 2023 from CNY 30,280,780,023.77 in Q1 2022, marking a rise of 2.1%[30]. - Total equity attributable to shareholders of the parent company rose to CNY 16,703,723,149.75 in Q1 2023, compared to CNY 16,573,103,788.29 in Q1 2022, an increase of 0.8%[30]. Hotel Operations - The company reported a significant increase in the performance of its domestic limited-service hotels, contributing to the overall profit growth[8]. - The limited-service hotel business generated combined revenue of RMB 2,864.04 million, up 25.88% year-on-year[15]. - The number of hotels opened in Q1 2023 was 195, with a net increase of 111 hotels, bringing the total to 11,671 hotels as of March 31, 2023[15]. - The average occupancy rate for mid-range hotels was 61.66%, while for economy hotels it was 54.51% in Q1 2023[20]. - The total number of operating hotels as of March 31, 2023, was 1,221, a decrease from 1,248 as of March 31, 2022[42]. - The total number of signed hotels was 1,302 as of March 31, 2023, down from 1,325 as of March 31, 2022[42]. - The total number of ordinary shareholders at the end of the reporting period was 35,492, with the largest shareholder holding 45.05% of the shares[9]. Revenue Per Available Room (RevPAR) - The RevPAR for mid-range hotels in China was RMB 239.28, a 39.76% increase compared to the same period last year[21]. - In Q1 2023, the average RevPAR for mid-range hotels was €56.65, a 45.83% increase compared to €39.00 in Q1 2022[23]. - The average RevPAR for economy hotels in Q1 2023 was €57.37, reflecting a 34.63% increase from €42.60 in Q1 2022[23]. - The overall average RevPAR for overseas hotels in Q1 2023 reached 110% of the level in the same period of 2019[24]. - The company forecasts that the average RevPAR for both domestic and overseas hotels in Q2 2023 will be between 110% and 115% of the 2019 levels[25]. - The RevPAR for mid-range hotels rose to ¥173.60 in Q1 2023, up 39.63% compared to ¥124.33 in Q1 2022[40]. - The RevPAR for owned and leased hotels was €33.34 in Q1 2023, up from €22.65 in Q1 2022, marking a growth of 47.38%[42]. Future Plans and Strategies - The company plans to continue expanding its market presence and enhancing operational efficiency in the coming quarters[8]. - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and customer experience[32].