Shang Hai Zheng Quan Bao·2025-08-28 06:12Core Viewpoint - The company reported a decline in revenue and net profit for the first half of 2025, attributed to weakened market demand and strategic exits from certain hotel properties, while maintaining a focus on high-quality development and global competitiveness [3][5][9]. Financial Performance - The company achieved consolidated operating revenue of 652,635,000 CNY, a decrease of 5.31% compared to the same period last year [3]. - The net profit attributable to shareholders was 37,067,000 CNY, down 56.27% year-on-year [3]. - The net profit after deducting non-recurring gains and losses was 40,862,000 CNY, an increase of 5.17% year-on-year [3]. - As of June 30, 2025, total assets were 4,566,269,000 CNY, a decrease of 0.97% from the end of the previous year [3]. - Total liabilities were 2,987,934,000 CNY, down 1.8% from the end of the previous year [3]. - The net assets attributable to shareholders were 1,547,995,000 CNY, an increase of 0.46% from the end of the previous year [3]. - The asset-liability ratio was 65.43%, a decrease of 0.56 percentage points year-on-year [3]. Hotel Business Overview - The hotel business generated consolidated operating revenue of 642,276,000 CNY, a decrease of 5.14% year-on-year [5]. - The net profit attributable to the hotel business segment was 23,954,000 CNY, down 66.16% year-on-year [5]. - Revenue from full-service hotels in mainland China was 12,232,000 CNY, an increase of 18.16% year-on-year [9]. - Revenue from limited-service hotels in mainland China was 445,223,000 CNY, a decrease of 4.74% year-on-year [9]. - The company opened 673 new hotels and exited 293, resulting in a net increase of 380 hotels [6]. Operational Developments - As of June 30, 2025, the total number of opened hotels reached 13,796, with a total of 1,332,853 rooms [6]. - The company has signed contracts for a total of 17,771 hotels, with a total of 1,681,446 rooms [7]. - The company is focusing on international expansion and improving operational efficiency through various strategic initiatives [10]. Fundraising and Financial Management - The company raised approximately 4,978,545,167.30 CNY through a non-public offering of shares in 2021 [28]. - As of June 30, 2025, the company had used 304,506,880 CNY of the raised funds, with a remaining balance of 225,636,510 CNY [29]. - The company has implemented strict management protocols for the use of raised funds to ensure compliance and proper allocation [30].