Core Viewpoint - Hunan Yami Hotel Management Co., Ltd. has been forced to delist due to failure to disclose its 2024 annual report on time, highlighting the challenges faced by small and medium-sized hotel management companies in a competitive market [1][2]. Company Summary - Hunan Yami Hotel was established in 2010 and operates limited-service hotel chains, including the budget brand "Youmi Chain Hotel" and the mid-range brand "Xingzhan" [1]. - The company has experienced continuous losses since 2020, with losses of 3.47 million, 3.13 million, 9.55 million, and 1.38 million yuan from 2020 to 2023, respectively [2]. - As of the end of 2023, Yami Hotel's net assets were negative, leading to risk warnings and a change in its stock name to "ST Yami" [2]. - The company reported a 45.13% decline in revenue for the first half of 2024, with a net loss of 342,240 yuan, marking a 248.49% increase in losses compared to the previous year [4]. Industry Summary - The small and medium-sized hotel sector is facing increasing pressure due to intensified competition and the need for transformation and upgrades [1][6]. - The hotel market in China has seen a significant increase in the number of establishments, with over 370,000 hotels as of the end of 2024, leading to a structural oversupply [5][6]. - Competitors like Pudong Hotel have also faced similar challenges, resulting in their delisting due to negative net assets for three consecutive years [5]. - The industry is undergoing a structural adjustment, with only a few companies possessing brand advantages and digital management capabilities likely to succeed [6].

| 证券代码：600655 | 证券简称：豫园股份 | 公告编号：临2025-051 | | --- | --- | --- | | 债券代码：242519 | 债券简称：25豫园01 | | | 债券代码：242813 | 债券简称：25豫园02 | | | 债券代码：242814 | 债券简称：25豫园03 | | 上海豫园旅游商城（集团）股份有限公司 关于公司 2025 年第一季度经营情况的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 根据《上市公司自律监管指引第3号》、《关于做好主板上市公司2025年第一季度报 告披露工作的重要提醒》要求，上海豫园旅游商城（集团）股份有限公司（以下简称"公 司"）现将2025年第一季度公司分行业、分地区营业收入，主要营业网点情况披露如下： 一、 本报告期内，公司主营业务分行业情况 单位:元 币种:人民币 | | | 主营业务分行业情况 | | | | | | --- | --- | --- | --- | --- | --- | --- | | 分行业 | 营业收入 | 营业成 ...