Shang Hai Zheng Quan Bao·2025-04-30 04:09Core Viewpoint - The company reported a decline in key financial metrics for the first quarter of 2025, indicating challenges in the hotel business amidst a complex global economic environment. The company aims to enhance its operational capabilities and maintain a focus on high-quality development. Financial Performance - As of March 31, 2025, total assets amounted to 45.51 billion yuan, a decrease of 1.30% from the previous year. Total liabilities were 29.73 billion yuan, down 2.28%. The net assets attributable to shareholders increased by 0.51% to 15.49 billion yuan [5]. - For Q1 2025, the company achieved operating revenue of 294.16 million yuan, a decline of 8.25% year-on-year. Operating profit fell by 71.71% to 9.39 million yuan, and net profit attributable to shareholders dropped by 81.03% to 3.60 million yuan [5]. - The net cash flow from operating activities was 60.28 million yuan, down 40.84% compared to the same period last year [5]. Hotel Business Overview - In Q1 2025, the hotel business generated consolidated revenue of 288.82 million yuan, a decrease of 8.15% year-on-year. Full-service hotel revenue increased by 31.39% to 5.92 million yuan, while limited-service hotel revenue decreased by 8.72% to 282.90 million yuan [5]. - Revenue from hotels in mainland China was 211.60 million yuan, down 6.37%, while revenue from overseas hotels was 77.22 million yuan, a decline of 12.69% [5]. - The company opened 226 new hotels and closed 129, resulting in a net increase of 97 hotels, bringing the total number of operating hotels to 13,513 with a total of 1,308,751 rooms as of March 31, 2025 [6]. Shareholder Information - The company received a plan from its controlling shareholder to increase its holdings of B shares by no less than 9 million shares and no more than 18 million shares within 12 months [9]. - As of March 31, 2025, the controlling shareholder held 3,769,990 B shares [9]. Stock Repurchase Plan - The company plans to repurchase and cancel 2,625,259 shares of restricted stock due to performance criteria not being met, with a total repurchase amount of approximately 31.11 million yuan [19][29]. - Following the repurchase, the total share capital will decrease to 1,067,418,804 shares [27].