Group 1 - The core viewpoint is that Jinjiang Hotels is actively managing its market value to enhance its performance and valuation in the capital market [1] - The company recognizes that corporate governance is the cornerstone of market value management, implementing a "three-in-one" reform to optimize its organizational structure and create an efficient management team [1] - Jinjiang Hotels has established a "three-platform" operational management system to achieve efficient collaboration and integration of resources such as brand, membership, and supply chain, significantly improving operational efficiency [1] Group 2 - Jinjiang Hotels integrates ESG principles into its development, positioning itself as a "green pioneer" in sustainable development [1] - The company actively promotes HSB verification and leads the industry's green and low-carbon transformation, while also creating a green supply chain and advocating for resource recycling [1] - Jinjiang Hotels has received high recognition from the capital market for its commitment to environmental sustainability, which contributes to the long-term value growth of the company [1] Group 3 - The company emphasizes transparent communication with investors, utilizing innovative information disclosure methods such as visual annual reports to make it easier for investors to understand its operational status [2] - Jinjiang Hotels engages in various investor interaction activities, including performance briefings and investor exchange events, to strengthen the bond between investors and the company [2] - The company has consistently returned high dividends to shareholders, with cumulative dividends reaching 6.039 billion and a long-term dividend payout ratio exceeding 50% [2]

Group 1 - The report emphasizes that service consumption has become a core strategy for expanding domestic demand in 2025, with significant potential for growth in China compared to developed economies like the US and Japan [4][8][28] - The report highlights that China's per capita GDP has surpassed $10,000, marking a critical window for the rapid development of service consumption, particularly in entertainment and leisure sectors [4][30][32] - Key measures to boost service consumption include increasing residents' income, enhancing leisure time, and encouraging high-quality service supply [4][8][28] Group 2 - The tea beverage industry is identified as having substantial growth potential, with a rational increase in store numbers and a shift towards emotional value for consumers, particularly among younger demographics [9] - The restaurant industry is expected to see steady growth, with a focus on government subsidies and an increase in chain operations, indicating a structural differentiation between mass and high-end markets [10] - Meituan is noted for its strategic investments in ecosystem development, maintaining a competitive edge despite short-term market fluctuations [11] Group 3 - The education sector is experiencing a concentration of market share among high-quality institutions, driven by regulatory changes and a persistent demand for K12 education [12] - The human resources industry is undergoing structural recovery, with a focus on AI applications to enhance efficiency and reduce costs [13] - The tourism sector is benefiting from policy-driven support and accelerated industry consolidation, with a notable increase in domestic travel demand [14] Group 4 - The hotel industry is facing a slowdown in supply growth, with leading hotel groups adjusting their operations to maintain competitive performance [14] - The duty-free sector is showing signs of recovery, with a stabilization in average transaction values and a narrowing decline in sales, supported by product diversification and new channel expansions [15]

作为"美食之都"，澳门有土生菜及葡国菜、中式点心及菜肴，还有蛋挞、杏仁饼、猪扒包等地道小吃。 其拥有超过140多家酒店，房间总数达4万3千多间，遍布澳门半岛、氹仔和路环。届时，前来观赛的旅 客可选择住在繁华的市中心或者综合休闲度假酒店，体验多彩服务。 潘永权向体育迷们发出邀请：除了看比赛之外，也欢迎大家留澳期间参与世遗游、小区游览，在澳门大 街小巷感受一下全运气氛。 （文章来源：21世纪经济报道） 十五运会及残特奥会澳门赛区筹备办公室主任潘永权表示，为了确保十五运会及残特奥会顺利举行，澳 门赛区稳步推进各项筹备工作，包括在5月份以及6月份已经顺利完成十五运会5个比赛项目的运行测 试，效果符合预期目标。 潘永权在会上表示，澳门透过模拟正式比赛的流程，对赛事组织的各个环节进行全方位检验，包括口岸 通关、人员接待、场地设施、竞赛组织、观众入场指引、媒体动线、医务救护、反兴奋剂检测、食品安 全、安保、颁奖礼仪、宣传及志愿者服务等。同时，项目测试期间也进行了不同突发状况的模拟演练， 测试了包括医护、安保、系统、场馆等范畴的应急处理方案，提高各单位之间的协作能力。 潘永权透露，项目运行测试也为志愿者提供了实习的机会，这次 ...

Core Insights - The "pet economy" is rapidly growing, significantly impacting the hospitality industry, particularly with the rise of pet-friendly hotels and services [1][2][7] - There is a notable increase in the number of hotels offering "pet-friendly services," with a year-on-year growth of nearly 20% in 2024 [1] Group 1: Market Trends - The shift in consumer behavior reflects a desire for shared experiences between pets and their owners during travel, leading to the emergence of various pet-friendly accommodation options [2][3] - Pet-themed hotels are distinguishing themselves with specialized services and facilities, such as pet self-service restaurants and play areas, catering primarily to pets while also considering human guests [3][4] Group 2: Service Differentiation - The service model for pet-themed hotels emphasizes the importance of catering to both pets and their owners, ensuring that the needs of both are met without compromising the essence of hotel service [4][5] - Unique offerings, such as themed events and activities for pets and their owners, enhance customer engagement and satisfaction, leading to higher repeat visits [5][6] Group 3: Operational Considerations - The operational challenges of managing a pet-themed hotel include ensuring the safety and comfort of pets, which requires a knowledgeable staff familiar with pet care [6][7] - Implementing safety measures, such as fenced areas and specialized facilities, is crucial for providing a secure environment for both pets and their owners [6][7] Group 4: Future Outlook - The pet-themed hotel market is expected to continue evolving, with opportunities for standardization and expansion as consumer demand grows [7] - Industry leaders aim to share best practices and operational strategies to enhance service quality and foster growth within the sector [7]

Investment Rating - The industry investment rating is "Outperform the Market," indicating that the industry index is expected to perform better than the benchmark index in the next 6-12 months [52]. Core Insights - The social services sector has seen a 5.39% increase in the past two weeks, outperforming the CSI 300 index by 1.86 percentage points, ranking 12th among 31 sectors [1][12]. - The summer travel season has begun, with a slight decrease in air travel costs year-on-year, suggesting positive operational performance for travel-related companies during the peak season [1][4]. Summary by Sections 1. Industry Performance - The social services sector's performance in the last two weeks (June 23 - July 4, 2025) shows a 5.39% increase, ranking 12th among 31 sectors [12]. - The sub-sectors within social services, including education (+11.42%) and professional services (+4.51%), all experienced growth [16]. 2. Industry Dynamics and Company News - The civil aviation sector is expected to handle 150 million passengers during the summer travel period, with a daily average of over 2.4 million passengers, reflecting a year-on-year growth of 5.4% [1][4]. - The "Su Super" sports events have significantly boosted local consumption, with hotel occupancy rates increasing by 20%-30% and related retail spending rising by 15%-25% [1][4]. 3. Investment Recommendations - Companies with strong growth potential in the travel chain and related industries include Huangshan Tourism, Lijiang Co., Songcheng Performance, and others [4]. - The recovery of business travel and increased market share for hotel brands such as Junting Hotel and Jinjiang Hotel are highlighted as key investment opportunities [4]. 4. Travel Data Tracking - Domestic travel has largely recovered post-pandemic, with international travel policies gradually easing, indicating a positive trend for the travel industry [39][40].

北京市金杜律师事务所上海分所 关于上海锦江国际酒店股份有限公司 致：上海锦江国际酒店股份有限公司 北京市金杜律师事务所上海分所（以下简称本所）受上海锦江国际酒店股份有 限公司（以下简称公司或上市公司或锦江酒店）委托，作为公司 2024 年限制性股 票激励计划（以下简称本计划）的专项法律顾问，根据《中华人民共和国公司法》 （以下简称《公司法》）、 《中华人民共和国证券法》 （以下简称《证券法》）、《上市 公司股权激励管理办法》 （2025 修正） （以下简称《管理办法》）1、国务院国有资产 监督管理委员会和财政部《国有控股上市公司（境内）实施股权激励试行办法》等 法律、行政法规、部门规章及规范性文件（以下简称法律法规）和《上海锦江国际 酒店股份有限公司章程》 （以下简称《公司章程》）及《上海锦江国际酒店股份有限 公司 2024 年限制性股票激励计划（草案）》 （以下简称《激励计划》）的有关规定， 就公司本次回购注销部分已授予限制性股票（以下简称"本次回购注销"）所涉及 的相关事宜出具本法律意见书。 法律意见书 为出具本法律意见书，本所依据《律师事务所从事证券法律业务管理办法》和 《律师事务所证券法律业务执业规则 ...

证券代码：600754/900934 证券简称：锦江酒店/锦江B股 公告编号：2025-038 ● 回购注销原因 票激励计划第一个解除限售期公司层面业绩考核不达标，公司回购对应业绩考核 年度首次授予的全部限制性股票 2,413,696 股； 年限制性股票激励计划（草案）》（以下简称"《激励计划》"），公司回购注 销其已获授但尚未解除限售的 182,688 股限制性股票（不含因第一个解除限售期 公司层面业绩不达标回购部分）； 人原因）与公司解除或者终止劳动关系，公司按照授予价格回购其获授的 28,875 股限制性股票。 ● 本次注销股份的有关情况 回购股份数量（股） 注销股份数量（股） 注销日期 一、本次限制性股票回购注销的决策与信息披露 上海锦江国际酒店股份有限公司 关于股权激励限制性股票回购注销实施的公告 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。 重要内容提示： 根据《公司法》等相关法律法规的规定，公司已就本次股份回购注销事项履 行通知债权人程序，具体内容详见公司于2025年4月30日在上海证券交易所网站 二十一次会议 ...

头条大事 活动｜阿里云中企出海峰会将落地北京：AI 加速全球布局 7月9日，阿里云中企出海峰会即将落地北京，携手标杆企业和生态伙伴，分享 AI 应用、制造、零售消费、具身智能等领域的务实实践。在 AI 时代，出海 企业如何提升创新和业务效率，开拓新商机？主论坛+四大分论坛+主题展区，分享出海洞察，探索增长动力。欢迎扫描下方二维码，报名参会。 公司动态 瑞幸在美国开出首批门店，一杯饮品最高57元 近日，瑞幸咖啡在美国开出首批门店，共计2家，分别位于纽约曼哈顿百老汇大道755号，以及第六大道800号。据瑞幸美国 APP 公布的菜单显示，其饮品价 格在3.45美元（约合24.71元）至7.95美元（约合56.94元）之间。新用户下载 App 则可享受优惠价。早在去年就有消息称瑞幸计划进入美国市场，并为此做 供应链和技术调整准备。瑞幸还曾在 NBA 比赛期间投放广告，以提升品牌知名度。瑞幸财报显示，截至一季度末，其全球门店总数达24097家。其中，国 际市场门店总数达到65家，包括新加坡自营门店57家，马来西亚加盟门店8家。（智通财经） 比亚迪搁置墨西哥建厂计划，副总裁李柯回应 7月3日，据彭博社报道，比亚迪已搁置了 ...

Core Viewpoint - Shanghai Jin Jiang International Hotel Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange, aiming to become the first hotel group in China to achieve a dual listing in both A-shares and H-shares [1] Group 1: Company Overview - As of December 31, 2024, Jin Jiang Hotel operates 13,416 hotels with a total of 1.29 million rooms, covering a full range of hotel categories from economy to high-end [1] - The IPO proceeds will primarily focus on expanding and optimizing overseas operations, including new hotel openings, renovations, service quality improvements, and IT infrastructure upgrades [1] Group 2: Overseas Expansion - Jin Jiang Hotel began its overseas expansion in 2015 with the acquisition of the Louvre Hotels Group in France, followed by the inclusion of the Plateno Group and Radisson Hotel Group, expanding its footprint to Europe, Asia, Africa, and America [2] - By the end of 2024, Jin Jiang Hotel has established 1,171 hotels abroad, with 773 located in France, 128 in other European countries, and 270 in Asia (excluding China), Africa, and America [2] - The RevPAR for overseas limited-service hotels is projected to reach 112.27% of 2019 levels in 2024, reflecting a 0.35% increase from 2023 [2] Group 3: Domestic Market Strategy - Jin Jiang Hotel anticipates revenue of 14.3 billion to 15 billion yuan in 2025, representing a year-on-year growth of 2% to 7%, with a 5% to 10% increase expected in mainland China [2] - The company plans to open 1,300 new hotels and sign contracts for 2,000 hotels in 2025, implementing a differentiated expansion strategy based on the "12+3+1" framework [2] Group 4: Infrastructure and Market Growth - Jin Jiang Hotel is actively improving infrastructure to boost hotel business growth in Europe, the Middle East, and Africa through new hotel openings and renovations [3] - The company is targeting high-growth markets in the Asia-Pacific region, including India, Indonesia, Malaysia, and Thailand, with plans for rapid expansion through both organic growth and strategic acquisitions [3] - The partnership with Malaysian hotel management group RIYAZ marks a significant step in Jin Jiang's Southeast Asia strategy, with plans to introduce multiple brands into the region [3]

关于 安徽九华山旅游发展股份有限公司 之 发行保荐书 华安证券股份有限公司 声 明 华安证券股份有限公司（以下简称"华安证券""保荐机构"或"本保荐机 构"）接受安徽九华山旅游发展股份有限公司（以下简称"九华旅游""发行人" 或"公司"）的委托，担任其向特定对象发行 A 股股票（以下简称"本次发行"） 的保荐机构。 保荐机构及保荐代表人已根据《中华人民共和国公司法》（以下简称《公司 法》）、《中华人民共和国证券法》（以下简称《证券法》）、《上市公司证券 发行注册管理办法》（以下简称《注册管理办法》）、《上海证券交易所股票上 市规则》（以下简称《上市规则》）等有关法律、法规，诚实守信，勤勉尽责， 严格按照依法制定的业务规则和行业自律规范出具证券发行保荐书，并保证所出 具文件真实、准确、完整。 如无特殊说明，本发行保荐书中的简称或名词释义与《安徽九华山旅游发展 股份有限公司 2025 年度向特定对象发行 A 股股票募集说明书》一致。 目 录 （二）发行人本次发行符合《上市公司证券发行注册管理办法》的有关规定 ..... 20 （安徽省合肥市滨湖新区紫云路 1018 号） 保荐机构（主承销商） 二〇二五年六月 （四 ...