GreenTree Hospitality Group Ltd. Reports Third Quarter of 2024 Financial Results

Total revenues decreased by 22.5% year over year to RMB357.0 million (US$50.9 million)[1]. Income from operations was RMB106.4 million (US$15.2 million)[1] compared to RMB137.8 million for the third quarter of 2023. Net income was RMB65.2 million (US$9.3 million)[1] compared to RMB117.4 million for the third quarter of 2023. Adjusted EBITDA (non-GAAP)[2] decreased 32.1% year over year to RMB122.5million (US$17.5 million)[1]. Core net income (non-GAAP)[3] decreased 26.6% year over year to RMB93.5million (U ...