Core Viewpoint - Shanghai Jin Jiang International Hotel Co., Ltd. reported a relatively strong performance in its 2025 semi-annual report despite the challenging conditions in the domestic hotel industry, characterized by weak consumer demand and intense competition [2][3]. Financial Performance - In the first half of 2025, Jin Jiang Hotel achieved operating revenue of 6.526 billion yuan, a year-on-year decrease of 5.31%. However, the net profit attributable to shareholders after deducting non-recurring items was 409 million yuan, reflecting a year-on-year increase of 5.17% [2][5]. - The second quarter of 2025 marked a significant turnaround, with a net profit of 382 million yuan, representing a year-on-year growth of 17.11% and a quarter-on-quarter increase of 1335.32% [2][5]. Strategic Adjustments - Jin Jiang Hotel has implemented a series of reform measures to prepare for the recovery of the industry, moving away from the traditional growth logic of "scale equals growth" to a new growth strategy [3][6]. - The company has strategically exited several hotel properties, which impacted its revenue and net profit figures. Notably, the sale of 100% equity in Fashion Journey Hotel Management Co., Ltd. and the disposal of certain hotel properties contributed significantly to previous financial results [4][5]. Operational Efficiency - The management has initiated organizational reforms and digitalization efforts to enhance operational efficiency, including streamlining decision-making processes and reducing the number of regional divisions [6][7]. - The management expense ratio decreased to 15.62%, down 2.66% year-on-year, indicating improved cost management [8]. Digital Transformation - Jin Jiang Hotel has unified its hotel management systems across 10,000 locations, which is expected to enhance standardized management and operational efficiency [10][11]. - The company has increased its direct connection rate to 75% through the elimination of private connections with OTAs, aiming for an 80% target by the end of the year [12][13].

在行业景气度低迷与激烈竞争态势下，锦江酒店为何能够交 出"破纪录"的成绩单？ 作者： 黄一帆 封图：企业官网 8月27日，国内酒店业代表企业之一的上海锦江国际酒店股份有限公司（600754.SZ，下称"锦江酒 店"）发布了2025年半年度报告。 这份报告出现在行业的低谷时刻。在国内消费疲软、竞争白热化的情况下，酒店业正面临如何破解 深度"内卷"、供给过度的难题。 2025年上半年，锦江酒店实现营业收入65.26亿元，同比下降5.31%；扣非后归属于上市公司股东 的净利润为4.09亿元，同比增幅为5.17%。4.09亿元是锦江酒店上市以来所取得的最佳中期利润业 绩。 值得注意的是，在这份"破纪录"的成绩单中，锦江酒店凭借2025年第二季度单季业绩向外释放了 强烈转折信号：在第二季度，锦江酒店实现扣非后归母净利润3.82亿元，同比增长17.11%，环比 增长1335.32%。 在行业景气度低迷与激烈竞争态势下，锦江酒店为何能够交出上述答卷？ 锦江酒店表示，在过去一段时间里，该公司采取一系列改革措施，为行业景气度复苏做好充分准 备。行业景气底部恰恰也是推动改革、持续优化调整的战略机遇期。该公司正在跳出酒店业传统 的 ...