Group 1: Financial Performance - In the first half of 2025, the company achieved a revenue of CNY 208,960.24 million, an increase of 8.52% compared to the same period last year [2] - The net profit attributable to shareholders reached CNY 4,952.64 million, reflecting a growth of 24.39% year-on-year [2] - The net asset attributable to shareholders at the end of the period was CNY 226,085.81 million, remaining stable compared to the previous year [2] - The net cash flow from operating activities was CNY 12,477.96 million, with a debt-to-asset ratio of 39.03% and a weighted average return on equity of 2.16% [2] Group 2: Travel Business Performance - The travel business, led by Guangzhou Guangzhi Travel International Co., Ltd., generated a revenue of CNY 153,571.45 million in the first half of 2025, up 11.78% year-on-year [3] - Revenue from outbound tourism (excluding Hong Kong and Macau) was CNY 84,881.39 million, while domestic tourism revenue was CNY 49,819.73 million [3] - The net profit for the travel business was CNY 2,329.30 million, a year-on-year increase of 34.91% [3] Group 3: Hotel Business Performance - The hotel management segment achieved a revenue of CNY 11,855.54 million in the first half of 2025, a growth of 1.60% compared to the previous year [5] - The net profit from hotel operations was CNY 973.47 million, reflecting a year-on-year increase of 23.26% [5] - The overall revenue for the hotel business has grown by 18.49% compared to the same period in 2019 [5] Group 4: Strategic Expansion - The travel business expanded its national service network, adding 12 new stores in the first half of 2025, totaling approximately 200 stores nationwide [6] - The hotel business established a northern headquarters and signed 69 new projects, adding nearly 4,000 rooms [7] - The company is actively pursuing a "North-South Coordination" strategy to enhance its national layout [7] Group 5: Silver Economy Initiatives - The travel business has launched the "Leisure and Happiness" club targeting the elderly market, focusing on developing tailored travel products [8] - New upgraded travel products for seniors include "Travel and Residence 2.0" and various themed travel routes [9] Group 6: Online Business Development - The company has developed the "Easy Travel" and "Walking Network" smart tourism platforms, integrating various online sales channels [10] - The official website has launched the "Easy Purchase" local life channel, enhancing the online shopping experience [10]