JINLING HOTEL(601007) 民生证券·2024-09-02 15:38Investment Rating - The report maintains a "Recommended" rating for the company [3][5]. Core Viewpoints - The company reported a stable hotel business and is expanding its diversified layout, with a 2.0% year-on-year increase in revenue to 910 million yuan in H1 2024, while net profit attributable to shareholders decreased by 25.6% to 23.19 million yuan [2][3]. - The hotel segment achieved revenue of 270 million yuan in H1 2024, reflecting a 1.0% year-on-year growth, with a gross margin of 40.5% [2]. - The white liquor business showed steady growth, with the subsidiary Su Tang Tang Jiu generating revenue of 510 million yuan, up 2.1% year-on-year [2]. - The food business maintained high growth, achieving revenue of 22.83 million yuan, a 40.9% increase year-on-year, driven by new product launches and improved brand influence [2]. Financial Forecasts - The company is projected to achieve revenues of 1.923 billion yuan in 2024, with a growth rate of 6.1% [4]. - Net profit attributable to shareholders is expected to be 66 million yuan in 2024, reflecting a 10.4% growth [4]. - The earnings per share (EPS) is forecasted to be 0.17 yuan in 2024, with a price-to-earnings (PE) ratio of 37 [4][6].