LN Holdings(SZ:000524)2022-12-03 10:26Company Overview - The company, Guangzhou Lingnan Group Holdings Co., Ltd., was listed on the Shenzhen Stock Exchange in 1993 under the name "Oriental Hotel" with stock code 000524 [2] - The controlling shareholder is Guangzhou Lingnan International Enterprise Group Co., Ltd. [2] - The company transitioned from single hotel operations to hotel brand management after acquiring 100% of Guangzhou Lingnan International Hotel Management Co., Ltd. in June 2014 [3] Business Transformation - In June 2015, the company changed its name to Guangzhou Lingnan Group Holdings Co., Ltd. and its stock name to "Lingnan Holdings" [3] - Major asset restructuring began in April 2016, acquiring 100% of Guangzhou Garden Hotel and China Grand Hotel, and 90.45% of Guangzhou Guangzhilv International Travel Agency [3] - The company raised 1.5 billion yuan through private placement to support these acquisitions [3] Travel and Accommodation Business - The core enterprise for business travel is Guangzhilv, a leading travel agency in South China, focusing on outbound, domestic, and inbound tourism [4] - Guangzhilv achieved revenue of 158.17 million yuan in Q1 2019, a year-on-year increase of 16.27% [7] - The company’s outbound tourism revenue (excluding Hong Kong and Macau) grew by 8.43%, with European tours increasing by 25.78% [7] Expansion and Market Presence - In 2018, Guangzhilv's expansion through acquisitions contributed to 28.89% of total revenue growth [8] - The company established multiple operational centers across China, including in Wuhan, Xi'an, and Xiamen, enhancing its national presence [8] - Guangzhilv has nearly 400 physical sales outlets and branches in various cities, covering over 190 countries and regions [9] Accommodation Business - The accommodation segment reported stable revenue in Q1 2019, with a net profit increase of 6.30% [10] - Lingnan Hotel, a wholly-owned subsidiary, achieved revenue of 21.13 million yuan, a 35.48% increase year-on-year [10] - The company focuses on the Greater Bay Area for its accommodation business, with new openings and expansions planned [10] Mooncake Sales - The "Lingyue" mooncake series generated sales of 101.84 million yuan in 2018, a 7.68% increase from the previous year [10]