金陵饭店2024年净利润下滑45.77％，旗下连锁酒店减少31家，仍将坚持全国化连锁布局

Core Viewpoint - In 2024, Jinling Hotel Co., Ltd. experienced a significant decline in net profit by 45.77% year-on-year, primarily due to strategic adjustments with partners and the termination of certain hotel operations, leading to a decrease in both revenue and market presence in the hotel service sector [2][4][6]. Financial Performance - The company reported a total revenue of 1.87 billion yuan in 2024, reflecting a year-on-year growth of 1.95%, while the net profit attributable to shareholders was 33 million yuan, down 45.77% [3][4]. - The hotel service segment generated revenue of 535 million yuan, a decline of 8.92% year-on-year, with a gross margin of 40.92%, down 1.82 percentage points [4][8]. - The contribution of hotel services to total revenue has been decreasing, with the share falling to 28.58% in 2024 from 31.19% in 2023 [4][5]. Business Segmentation - Non-hotel revenue, primarily from commodity trading, accounted for 60.76% of total revenue in 2024, growing by 9.28% year-on-year, indicating a shift in the company's revenue structure [4][5]. - The company’s investment in the Guizhou Guiningda Hotel Management Co., Ltd. has been a factor in the decline of hotel signings, as this partnership is being phased out [6][7]. Strategic Direction - The company aims to maintain a national chain layout strategy, focusing on the Jiangsu and Anhui regions, and plans to optimize hotel expansion through various operational models [6][7]. - Future growth strategies include enhancing brand development, digital transformation, and green initiatives to improve revenue and profit margins in the hotel sector [8]. Market Conditions - The hotel industry is facing increased competition and market saturation, with a notable impact from global economic uncertainties and changing consumer confidence [7][8]. - The company acknowledges the need for structural upgrades and a shift towards more sustainable and innovative hotel management practices to remain competitive [8].