Core Viewpoint - The outbound tourism market in China is experiencing significant recovery, particularly in Southeast Asia, which is projected to attract 120 million international tourists and generate over $350 billion in tourism revenue by 2025, accounting for 8.5% of the region's GDP [2][3]. Group 1: Market Dynamics - Southeast Asia is becoming a primary destination for middle-class families in China, driven by its unique tourism resources and potential for hotel industry growth [3]. - The recovery of the outbound tourism market is supported by various platforms reporting a substantial increase in overseas travel product bookings [2]. Group 2: Company Strategy - Jinjiang Hotels has accelerated its expansion into Southeast Asia, signing a management agreement with RJJ Hotels to establish over 180 hotels in Malaysia, Indonesia, Vietnam, Laos, Cambodia, and the Philippines within five years [5][7]. - The company aims to build a localized team and adapt its brands to local markets while maintaining consistent quality standards [10][11]. Group 3: Operational Approach - Jinjiang's new "2.0 version" of going abroad emphasizes deep integration with local markets, focusing on sustainable business practices and long-term partnerships [9][10]. - The company is building a mixed team of 20% Chinese and 80% local staff to enhance communication and market understanding, which is crucial for successful overseas operations [13]. Group 4: Competitive Advantages - Jinjiang's robust supply chain system supports its international expansion, providing comprehensive procurement services to over 17,000 hotels globally [18][20]. - The company leverages its experience from managing the Hilton Garden Inn brand in China to effectively localize foreign brands in Southeast Asia [23][24]. - Jinjiang benefits from favorable government relations and trade agreements, enhancing its operational capabilities in the region [26]. Group 5: Future Outlook - The company is focused on quality over rapid expansion, prioritizing the establishment of high-quality initial projects before scaling up [30]. - Jinjiang's digital transformation efforts, including the unification of management systems across 10,000 hotels, position it for efficient operations and consistent service delivery in international markets [35].

Core Insights - The strategic partnership between Jin Jiang Hotels (China) and Malaysian hotel management group RIYAZ marks a significant milestone for Chinese hotel brands expanding internationally [1] - The collaboration aims to develop over 180 hotel projects in Malaysia, Indonesia, Vietnam, Laos, Cambodia, and the Philippines over the next five years [1] Group 1 - Jin Jiang Hotels celebrates its 90th anniversary with the signing of a strategic cooperation agreement in Kuala Lumpur [1] - A new hotel management company, RJJ Hotels, has been established specifically for this partnership [1] - The agreement includes a management license for Jin Jiang's five brands: Jin Jiang Metropolo, Lavande, Jin Jiang Inn, Jinhui, and Cloud Residence [1] Group 2 - RJJ Hotels will oversee the development, construction support, and operational management of the hotel projects in the six targeted countries [1] - The partnership aims to ensure high-quality implementation of new hotel projects through collaboration with Jin Jiang's stationed teams [1]

Core Viewpoint - Jinjiang Hotels reported a strong performance in the first half of 2025, with operating revenue of 6.526 billion yuan and a net profit of 409 million yuan, reflecting a year-on-year growth of 5.17%, despite a decline in net profit attributable to the parent company due to the absence of non-recurring gains from asset disposals in the previous year [1][2] Group 1: Financial Performance - The company achieved operating revenue of 6.526 billion yuan in the first half of 2025, with a net profit of 409 million yuan, marking a 5.17% increase year-on-year [1] - The decline in net profit attributable to the parent company was due to the absence of non-recurring gains from the sale of assets in the previous year, which had generated 459 million yuan [1] Group 2: Operational Efficiency and Management - Jinjiang Hotels streamlined its management structure from "7 major centers and 37 departments" to "13 departments and 2 business units," enhancing management efficiency and reducing management costs, with the management expense ratio dropping to 15.62%, a decrease of 2.66 percentage points year-on-year [2] - The company focused on brand development, with 86% of new hotel openings in the domestic limited-service hotel segment coming from its main brands, an increase of approximately 3 percentage points from the previous year [2] Group 3: Customer Engagement and Membership - The company enhanced its central client operations, with a 15% year-on-year increase in order night volume from central clients, contributing to revenue growth and risk resilience [3] - The "Jinjiang Hui" membership program surpassed 200 million members, with a central booking rate increase of 11.36 percentage points from January to June, and membership contribution rate exceeding 70% [3] Group 4: Digital Transformation - Jinjiang Hotels is building an efficient digital operation system through three core initiatives: integrating a "three-platform" system for brand, membership, and supply chain management, achieving unified membership systems, and promoting business-financial integration for improved operational efficiency [4] Group 5: Global Expansion Strategy - The company is accelerating its global expansion, focusing on Southeast Asia and Europe, with plans to develop over 180 hotel projects in collaboration with RJJ Hotels in countries like Malaysia, Indonesia, and Vietnam [5][6] - In Europe, Jinjiang Hotels is revitalizing its operations by focusing on core business development and asset upgrades, with 14 renovated hotels showing significant improvements in revenue and customer satisfaction [7] Group 6: Future Outlook - Jinjiang Hotels aims to strengthen its industry leadership through internal reforms and global expansion, contributing to the international influence of Chinese service brands and supporting high-quality economic development in China [7]

Core Viewpoint - Jin Jiang Hotels is accelerating its international expansion by partnering with Malaysian hotel management group RIYAZ to develop over 150 hotel projects in Southeast Asia over the next five years [1][5][6]. Group 1: Strategic Partnership - Jin Jiang Hotels (China) has signed a management license agreement with RIYAZ, which has established RJJ Hotels specifically for this collaboration [1][5]. - The partnership aims to develop and manage hotel projects under five Jin Jiang brands in Malaysia, Indonesia, Vietnam, Laos, Cambodia, and the Philippines [1][5][6]. - A joint management agreement for the Jin Jiang Duzhou project in Sarawak, Malaysia, has been signed, marking the brand's entry into the Malaysian market [5][6]. Group 2: Expansion Plans - Jin Jiang Hotels plans to establish over 500 hotels in Southeast Asia within five years, combining self-development and projects with RJJ [1][6]. - The company will deploy local teams in Southeast Asia to create a localized workforce, integrating Chinese and local employees [6][9]. Group 3: Operational Strategy - The expansion strategy is characterized by a "light asset entry + local integration" model, aiming for a self-circulating management mechanism [6][9]. - Jin Jiang Hotels will leverage its global procurement platform and tourism services to enhance project implementation and optimize local adaptation [9][10]. Group 4: Market Context - Southeast Asia is identified as a strategic growth market for Jin Jiang, with the region's tourism sector being a key driver for economic prosperity [10]. - China has been the largest source of tourists for countries like Vietnam, Thailand, and Malaysia for three consecutive years, contributing over 25% of tourism revenue [10].

Core Insights - Jinjiang Hotels is expanding into Southeast Asia, driven by the region's large population and growth opportunities, while also recognizing the complexities of international operations [1][3][5] - The company aims to integrate into local tourism markets rather than merely pursuing rapid expansion and short-term profits [2][10] - Jinjiang has prior experience in international markets, having previously entered the Philippines and South Korea, and is now focusing on building a capable team for scaling operations in Southeast Asia [3][4][6] Market Opportunities - Southeast Asia is a mature tourism destination, with Malaysia receiving over 25 million international visitors last year and aiming for 35.6 million by 2026 [3][5] - Vietnam has seen a 22.5% increase in international visitors in the first seven months of this year, with a significant portion coming from mainland China [3][5] - The geographical proximity and cultural ties between China and Southeast Asia provide a favorable environment for Jinjiang's expansion [5][6] Strategic Approach - Jinjiang plans to establish a mixed team of 20% expatriates and 80% local hires to ensure effective communication and operational efficiency [6][10] - The company is focused on building a strong local team and adapting its operational standards to meet local market needs while maintaining quality [9][10] - Jinjiang's strategy includes leveraging its existing customer base and loyalty programs to attract both local and international guests [10][12] Brand Development - The company intends to introduce multiple brands, including Jinjiang Metropolo, Lavande, and Jinjiang Inn, to cater to different market segments in Southeast Asia [9][10] - Jinjiang is committed to a gradual approach, prioritizing quality and brand recognition over rapid expansion [10][12] - The company aims to create a positive feedback loop by activating local consumer bases and enhancing membership through localized operations [10][12] Team and Leadership - The leadership team, including Zhang Zhonghao, has extensive experience in building brands and navigating market challenges, which is crucial for the success of the Southeast Asia initiative [12][13] - The company emphasizes the importance of cultural integration and support for local teams to overcome operational challenges [11][12]

Core Insights - Jinjiang Hotels is expanding into Southeast Asia, driven by the region's large population, developmental gaps, and cultural proximity, marking a significant opportunity for domestic brands [2][3][4] - The company emphasizes a strategic approach to overseas expansion, focusing on building a local team and adapting to the regional market while avoiding short-term profit pressures [2][10][18] - Jinjiang has a history of international operations, having previously entered markets like the Philippines and South Korea, which provides a foundation for its current expansion efforts [3][4][15] Market Opportunities - Southeast Asia is a mature tourism destination, with Malaysia expecting to receive 35.6 million international tourists by 2026, and Vietnam seeing a 22.5% increase in international visitors in the first seven months of this year [3][4] - The company plans to establish a presence in multiple Southeast Asian countries, including Malaysia, Indonesia, Laos, Vietnam, Cambodia, and the Philippines, with a focus on key urban areas and established properties [15][16] Strategic Approach - Jinjiang is adopting a light-asset model for its overseas operations, collaborating with local partners to navigate the market effectively [7][10] - The company aims to create a mixed team of 20% expatriates and 80% local hires to ensure smooth operations and cultural integration [10][13] - A focus on long-term brand establishment and local consumer engagement is prioritized over immediate financial returns [17][18] Operational Plans - The first project under Jinjiang's Southeast Asia strategy is the Jinjiang Duzhou hotel in Laos, set to open in January next year, with plans for a hotel in Malaysia's Kuala Lumpur to follow [11][13] - Jinjiang is establishing subsidiaries in each target market to manage local operations, ensuring that standards are met while adapting to local conditions [13][14] Customer Engagement - The company recognizes the importance of activating local consumer bases while leveraging its existing membership platforms to attract both domestic and international travelers [16][17] - Jinjiang aims to create a positive feedback loop by enhancing local membership and integrating its services into the Southeast Asian market [17][18]

Core Viewpoint - The company is actively pursuing a globalization strategy to enhance its competitiveness and market value in the context of economic globalization [1][5]. Group 1: Globalization Strategy - On June 5, the company's board approved the issuance of H-shares and listing on the Hong Kong Stock Exchange, marking a significant step in its globalization strategy [2]. - The funds raised from the H-share listing will primarily be used to strengthen and expand overseas operations, repay bank loans, and supplement working capital [2]. - By the end of 2024, the company announced a partnership with RIYAZ to expand its hotel brands into Southeast Asia, targeting six countries including Malaysia and Indonesia [3]. Group 2: Financial Performance - In 2024, the company achieved a total revenue of 14.063 billion yuan, with hotel operations contributing 13.821 billion yuan and overseas hotel revenue reaching 4.256 billion yuan, accounting for 30.8% of hotel revenue [2]. - The RevPAR for overseas limited-service hotels reached 112.27% of the 2019 level, showing a 0.35% increase compared to 2023 [3]. Group 3: Brand Development - The company has built a diverse brand matrix through strategic investments and acquisitions, including the acquisition of the Louvre Group and Vienna Hotel Group [4]. - The company’s brand portfolio covers all categories from high-end to economy, with notable brands like Jinjiang Metropolo and Vienna International [4]. - As of December 2024, the Jinjiang Metropolo brand has opened 228 hotels across over 100 cities in China [4]. Group 4: Future Outlook - The company is positioned for positive growth through its globalization strategy, brand matrix enhancement, and operational optimization, laying a solid foundation for future development [5].

Group 1 - The outbound tourism market in China is experiencing significant growth, with platforms like Fliggy and Mafengwo reporting increases in bookings and search interest for overseas travel [1] - The China Tourism Research Institute indicates that the outbound tourism market is entering a new period of prosperity, supported by data from the past ten quarters [1] - Jin Jiang Hotels is accelerating its overseas expansion to capitalize on the recovery of outbound tourism, positioning itself as a representative enterprise in the industry [1] Group 2 - Jin Jiang is one of the first Chinese hotel companies to expand internationally, establishing a global hotel operation network across five continents through partnerships and acquisitions [2] - The company has integrated various hotel brands, including Radisson and Louvre Hotels Group, to enhance its competitive edge in the global market [2][3] - Jin Jiang's overseas brand restructuring includes a five-year upgrade plan for Louvre Hotels Group, focusing on improving operational capabilities and optimizing cost structures [3] Group 3 - Southeast Asia remains a top destination for Chinese tourists, prompting Jin Jiang to expand its presence in the region with plans to open over 100 hotels in six Southeast Asian countries within five years [4] - Recent hotel signings include the first Jin Jiang Dujun hotel in Laos and the first Lavande hotel in Malaysia, reflecting the company's commitment to regional growth [4] Group 4 - Jin Jiang is adopting a unified platform approach for its overseas expansion, integrating products, channels, standards, and services to enhance the travel experience for Chinese tourists [6] - The "Jin Jiang Hui" platform, with over 200 million members, offers comprehensive travel services, including hotel bookings and travel arrangements, enhancing customer loyalty and engagement [6] - The platform's member repurchase rate and points redemption rate have seen significant increases, indicating strong customer satisfaction and retention [6] Group 5 - As more Chinese tourists travel abroad, there is a growing demand for familiar, convenient, and predictable lodging experiences, which Jin Jiang aims to provide [7] - The company's international expansion is expected to create collaborative opportunities within the overseas hospitality ecosystem, setting a new standard for Chinese hotel internationalization [7]

Core Insights - The hotel industry is experiencing a strong recovery driven by robust domestic economic growth and favorable policies, with Jin Jiang Hotels emerging as a market leader capitalizing on these opportunities [1][2] - Increased consumer spending power and the implementation of visa-free policies have significantly boosted both domestic and inbound tourism, leading to a surge in hotel accommodation demand [1] - Jin Jiang Hotels has a diverse brand portfolio catering to various customer segments, enhancing its market appeal and occupancy rates [1] Company Overview - Jin Jiang Hotels has signed over 17,000 hotels, establishing a vast presence across major domestic cities and key international locations, which provides a competitive edge in resource integration and operational efficiency [2] - The company's ability to quickly adapt to market demands during peak seasons through internal resource allocation has resulted in higher overall occupancy rates [2] - Utilizing a large membership system and digital marketing strategies, Jin Jiang Hotels effectively attracts consumers with targeted promotions, further boosting occupancy and revenue [2] Future Outlook - Investor sentiment towards the hotel industry remains positive, with Jin Jiang Hotels positioned as a premium investment target due to its strong brand and scale advantages [2] - Continued economic development and tourism market growth in China are expected to provide Jin Jiang Hotels with ongoing opportunities for performance enhancement and market share expansion [2]

Core Insights - The hotel industry is experiencing intense competition, making precise and forward-looking regional strategies essential for sustainable development [1] - Jinjiang Hotels (China) is implementing a strategy of "refining headquarters, strengthening regions, and solidifying provinces," optimizing resource allocation through meticulous management [1][2] - The company has significantly increased its market share by focusing on economically developed areas and tourist hotspots, laying a solid foundation for stable market capitalization growth [1] Resource Optimization - The implementation of the "refining headquarters, strengthening regions, and solidifying provinces" strategy is crucial for optimizing resource allocation [2] - At the headquarters level, Jinjiang Hotels has streamlined management processes and enhanced strategic planning functions, improving decision-making efficiency and resource allocation capabilities [2] - The company has consolidated its ten original regions into six major regions, allowing for greater autonomy and innovation at the regional level, which enhances market share and brand influence [2][3] Regional Strategy Customization - Jinjiang Hotels tailors differentiated strategies based on regional market characteristics, which is key to its success in deepening regional operations [4] - In economically developed areas like the Yangtze River Delta and Pearl River Delta, the company is increasing its presence in mid-to-high-end hotel brands to meet strong business travel demand [4] - In tourist hotspots such as Yunnan and Xinjiang, Jinjiang Hotels focuses on creating unique resort hotels that incorporate local cultural elements, enhancing the overall guest experience [4] Performance and Future Outlook - The regional deepening strategy has allowed Jinjiang Hotels to establish a strong foothold in key markets, driving significant market capitalization growth [5] - During the recent May Day holiday, the company reported nearly 8.9 million guests, a 13% increase from the previous year, with a record high occupancy rate across nearly 10,000 hotels [5] - Looking ahead, Jinjiang Hotels plans to continue refining its regional development strategy, optimizing its layout, and enhancing service quality to meet diverse consumer needs [6]