锦江酒店递表港交所 已开发包含WeHotel等酒店行业领先的技术基础设施

Core Viewpoint - Jin Jiang Hotels has submitted a listing application to the Hong Kong Stock Exchange, with Dongfang Securities International as the sole sponsor [1] Group 1: Company Overview - As of December 31, 2024, Jin Jiang Hotels operates 13,416 hotels with a total of 1,290,988 guest rooms, making it the largest hotel group in China and the second largest globally based on guest room count [3] - The company operates hotels through two business models: owned and leased hotels, and franchised and managed hotels, leveraging a light asset business model to expand its hotel network and gain competitive advantages [3] - The number of franchised and managed hotel guest rooms increased from 1,025,618 as of December 31, 2022, to 1,214,788 as of December 31, 2024, representing a compound annual growth rate of 8.8% [3] Group 2: Digital Transformation - Jin Jiang Hotels is a leader in the digital transformation of the Chinese hotel industry, having developed advanced technological infrastructure, including WeHotel, GPP, and the Jin Jiang Service Sharing Platform, enhancing operational efficiency and profitability [4] - WeHotel serves as a hotel booking platform, providing comprehensive central reservation solutions and loyalty program management, with approximately 1.7 million corporate clients and about 204.9 million Jin Jiang members in China as of December 31, 2024 [4] - The company's central reservation rate was 56.9% in 2024, calculated based on the total number of room nights sold through direct and indirect online sales channels [4] Group 3: Financial Performance - For the fiscal years 2022, 2023, and 2024, Jin Jiang Hotels reported revenues of approximately RMB 11.31 billion, RMB 14.65 billion, and RMB 14.06 billion, respectively [6] - The net profit for the same periods was approximately RMB 269 million, RMB 1.28 billion, and RMB 1.14 billion, respectively [6] - The gross profit margin improved from 32.1% in 2022 to 40.8% in 2023, before slightly declining to 38.4% in 2024 [7]