锦江B股(900934) - 2019 Q3 - 季度财报

Financial Performance - Operating revenue for the first nine months of 2019 was CNY 11.28 billion, reflecting a growth of 2.97% compared to the same period last year[6] - Net profit attributable to shareholders was CNY 873.23 million, a slight increase of 0.15% year-over-year[6] - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 799.65 million, up 18.08% from the previous year[6] - The company reported a net profit warning for the year, indicating potential losses or significant changes compared to the previous year[48] - The net profit for the first three quarters of 2019 was not explicitly stated, but the total revenue for the first nine months was ¥11,282,092,198.03, up from ¥10,956,648,296.35 in the same period of 2018, indicating a growth of 3.0%[58] - The company reported a significant increase in other receivables, which rose to ¥206,712,282.05 from ¥143,538,001.11, an increase of about 44.0%[55] - The company recorded a fair value loss of CNY 214,033,710.34 in Q3 2019, compared to a gain of CNY 124,432.80 in Q3 2018[59] - The company’s operating profit for Q3 2019 was CNY 451,321,227.82, down 22.5% from CNY 582,493,308.58 in Q3 2018[59] Assets and Liabilities - Total assets as of September 30, 2019, were CNY 38.81 billion, a decrease of 3.30% compared to the end of the previous year[6] - The total liabilities amounted to CNY 24,659.77 million, down 6.36% from the end of last year[12] - The company's current assets decreased to CNY 8.69 billion from CNY 9.84 billion year-over-year, reflecting a decline of approximately 11.6%[51] - The total liabilities decreased to CNY 24.66 billion from CNY 26.33 billion, a reduction of approximately 6.3%[53] - Long-term borrowings decreased to CNY 13.91 billion from CNY 15.51 billion, representing a decline of about 10.3%[53] - The total owner's equity decreased to ¥11,528,131,917.50 from ¥11,781,570,877.19, a decline of approximately 2.1%[57] Revenue and Growth - The company achieved a consolidated operating revenue of CNY 1,128.21 million for the first nine months of 2019, an increase of 2.97% compared to the same period last year[13] - The limited service hotel business generated consolidated operating revenue of CNY 1,109.37 million from January to September 2019, up 2.92% year-on-year[15] - The revenue from front-end service fees in the mainland China limited service hotel business for Q3 2019 was CNY 236.44 million, an increase of 52.26% year-on-year[18] - The total revenue for limited-service hotel operations and management was approximately RMB 11.09 billion, with a gross margin of 90.39%[24] - Revenue from mainland China was RMB 8.21 billion, representing a year-over-year increase of 4.31%[25] - The company’s overseas revenue was RMB 3.07 billion, showing a slight decline of 0.44% compared to the previous year[25] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 1.60 billion, down 36.59% compared to the same period last year[6] - The net cash flow from operating activities for the first nine months was CNY 159.98 million, a decrease of 36.59% compared to the previous year[13] - Operating cash flow for the first nine months of 2019 was CNY 1,599,751,311.70, a decrease of 36.5% from CNY 2,522,970,446.36 in the previous year[66] - The company reported a net cash outflow from investment activities of CNY 460,273,515.14 in Q3 2019, compared to a net outflow of CNY 247,003,499.35 in Q3 2018[67] - The net cash flow from financing activities for Q3 2019 was negative CNY 2,618,990,294.35, compared to negative CNY 5,294,013,005.50 in Q3 2018[67] Hotel Operations - The number of newly opened hotels in the first nine months was 1,107, with a net increase of 718 hotels[16] - As of September 30, 2019, the total number of signed hotels reached 12,390, with a total of 1,270,340 rooms[17] - The company operated 8,161 hotels as of September 30, 2019, with a net increase of 718 hotels year-to-date[80] - The average occupancy rate for all operating hotels was 78.49% in Q3 2019, compared to 82.65% in Q3 2018[83] - The average room rate for all operating hotels was CNY 215.41 in Q3 2019, up from CNY 207.66 in Q3 2018[83] - The total number of hotels in operation as of September 30, 2019, was 1,269, a slight decrease from 1,278 in the same period of 2018[87] Expenses and Costs - Total operating costs for Q3 2019 were ¥3,554,885,576.22, compared to ¥3,470,361,405.79 in Q3 2018, reflecting an increase of 2.4%[58] - Research and development expenses rose by 299.25% to CNY 36,225,696.07 from CNY 9,073,349.93, mainly due to increased software development costs[33] - The company’s management expenses for the first nine months of 2019 were CNY 65,309,206.11, down from CNY 70,507,499.41 in the previous year[63] Market Conditions - In Q3 2019, the RevPAR for mid-range hotels in China was RMB 213.53, a decrease of 5.66% compared to RMB 226.34 in Q3 2018[19] - The RevPAR for economy hotels in China was RMB 126.00, down 8.12% from RMB 137.13 in the same period last year[19] - The average occupancy rate for mid-range hotels decreased by 1.55% to 81.83% in the first nine months of 2019 compared to the same period in 2018[85] - The RevPAR for mid-range hotels slightly declined by 0.35% to 220.23 CNY per room in the first nine months of 2019[85] - The average occupancy rate for economy hotels dropped by 5.25% to 73.38% in the first nine months of 2019 compared to the same period in 2018[85] - The RevPAR for economy hotels decreased by 7.47% to 117.92 CNY per room in the first nine months of 2019[85]