BTG Hotels(SH:600258)2024-04-28 07:36Financial Performance - The company achieved operating revenue of CNY 1,845,458,817.94, representing a year-on-year increase of 11.47%[3] - Net profit attributable to shareholders reached CNY 120,562,905.79, up 49.83% compared to the same period last year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 102.19% to CNY 97,386,085.14[3] - Basic earnings per share rose to CNY 0.1080, reflecting a growth of 49.79%[3] - Total operating revenue for Q1 2024 reached ¥1,845,458,817.94, an increase of 11.5% compared to ¥1,655,538,473.32 in Q1 2023[19] - Operating profit for Q1 2024 was ¥169,185,536.56, representing a 42.6% increase from ¥118,642,892.70 in Q1 2023[19] - Net profit for Q1 2024 was ¥3,612,580.95, up 52.8% from ¥2,362,853.45 in Q1 2023[26] - The company’s total comprehensive income for Q1 2024 was CNY 133.79 million, compared to CNY 97.10 million in Q1 2023[44] - The total profit for the company reached 173.55 million RMB, an increase of 51.42 million RMB, or 42.10% year-over-year[62] - The hotel business contributed a total profit of 51.81 million RMB, up 44.90 million RMB, or 649.82% compared to the same period last year[62] Hotel Operations - The company opened 205 new hotels in Q1 2024, including 2 direct-operated and 203 franchised hotels[12] - The number of new hotels opened in Q1 2024 totaled 205, with a total of 1,940 hotels in operation as of March 31, 2024[36] - As of March 31, 2024, the company operated 6,295 hotels (including 2 overseas), with a total of 483,639 rooms[77] - The company launched the Home Inn 4.0 product, enhancing its brand image with stylish design and upgraded room quality to attract younger consumers[76] - The company continues to upgrade and innovate its hotel offerings to enhance customer experience and brand strength[76] - The company opened 205 new hotels during the reporting period, with 102 being economy and mid-to-high-end hotels, accounting for 49.8% of all new openings, a year-on-year increase of 15.0 percentage points[99] - The number of newly opened mid-to-high-end hotels reached 66, representing a 50.0% year-on-year growth and accounting for 32.2% of all new openings, an increase of 11.2 percentage points year-on-year[99] Revenue Metrics - The RevPAR for all hotels was CNY 131, a slight increase of 0.1% year-on-year[13] - The RevPAR (Revenue per Available Room) for all hotels, excluding light management hotels, was CNY 147, representing a 2.0% increase year-over-year, driven by an ADR (Average Daily Rate) of CNY 233, which grew by 2.2%[32] - The RevPAR for economy hotels in Q1 2024 was 119, reflecting a year-on-year increase of 1.3%[80] - The average daily rate (ADR) for economy hotels in Q1 2024 was 182, with a year-on-year increase of 2.7%[80] - The average room rate increased by 1.4% to CNY 217, while the occupancy rate decreased by 0.8 percentage points to 60.1%[13] Cash Flow and Assets - Cash flow from operating activities decreased by 33.82% to CNY 596,236,020.36 due to increased year-end bonuses and tax payments[3] - Cash flow from operating activities for Q1 2024 was ¥6,177,453.25, down from ¥14,214,179.61 in Q1 2023[27] - Cash and cash equivalents at the end of Q1 2024 totaled ¥1,595,665,698.78, compared to ¥1,450,788,389.95 at the end of Q1 2023[22] - The cash inflow from investment activities in Q1 2024 was CNY 491.80 million, a decrease from CNY 1,514.65 million in Q1 2023[46] - The company's cash and cash equivalents at the end of the period were ¥312,935,587.75, up from ¥149,488,879.82 at the end of 2023[52] - The total assets as of March 31, 2024, amounted to CNY 25,678,312,476.67, an increase from CNY 25,240,145,119.98[18] - The total current assets reached ¥3,128,947,558.46, up from ¥3,014,708,984.73 at the end of 2023[52] Market Outlook and Strategy - The company plans to focus on scale expansion and deepening market penetration in 2024[10] - The company anticipates that domestic tourism and travel demand will continue to grow, with major indicators expected to maintain over 20% growth in 2024[98] - The company aims to enhance its performance further in 2024 by optimizing operational management and capturing market opportunities during key holiday sales periods[98] - The company plans to continue leveraging AI revenue management tools and diverse marketing channels to enhance hotel operating performance[32] Shareholder Information - The top ten shareholders hold a total of 50,888 shareholders, with the largest shareholder being Beijing Capital Tourism Group Co., Ltd., holding 34.54%[60] - The company reported a net cash outflow from financing activities of ¥213,672,544.53 in Q1 2024, compared to a net outflow of ¥500,333,531.35 in Q1 2023[22] - The company acquired 100% equity of Nuo Jin Company in May 2023, classified as a business combination under common control[71]