Company Overview - H World Group Limited is a significant player in the global hotel industry, operating 11,685 hotels with 1,142,158 hotel rooms across 19 countries as of March 31, 2025 [1] - The company’s brands include HanTing Hotel, JI Hotel, Orange Hotel, and several others, along with master franchise rights for Mercure, Ibis, and Ibis Styles in the pan-China region [1] Business Model - H World employs a mix of leased and owned, manachised, and franchised models for its operations [2] - As of March 31, 2025, 8% of hotel rooms are operated under the lease and ownership model, while 92% are under the manachise and franchise model [2] Recent Developments - The 2025 annual general meeting (AGM) was held on June 27, 2025, where several resolutions were passed, including the ratification of Deloitte Touche Tohmatsu as the auditor for 2025 [4] - The AGM also included the re-election of Ms. Jie Zheng as an executive director and authorization for directors to take necessary actions regarding the resolutions [4]