锦江酒店: 锦江酒店年报

Core Viewpoint - Shanghai Jin Jiang International Hotels Co., Ltd. reported a decline in revenue and net profit for the year 2024, indicating challenges in the hotel industry, particularly in limited-service hotels, while full-service hotel segments showed growth in revenue and profit [6][7]. Financial Performance - The company achieved a consolidated revenue of RMB 14,062.98 million in 2024, a decrease of 4% compared to the previous year [6]. - The net profit attributable to shareholders was RMB 539.49 million, down 30.32% year-on-year [6][7]. - The total assets as of December 31, 2024, were RMB 46,109.97 million, reflecting an 8.85% decrease from the previous year [6]. - The company’s total liabilities decreased by 8.42% to RMB 30,427.46 million [6]. Business Segments - The hotel business generated a revenue of RMB 13,820.99 million, a decline of 4.02% year-on-year, while the operating profit increased by 2.3% [7][8]. - Full-service hotels reported a revenue increase of 49.57% to RMB 238.31 million, with a net profit growth of 82.36% [8][10]. - Limited-service hotels experienced a revenue decline of 4.62%, with a net profit increase of 1.43% [8]. Operational Metrics - The company opened 1,515 new hotels and closed 519, resulting in a net increase of 968 hotels, bringing the total to 13,416 hotels with 1,290,988 rooms [9][10]. - The revenue from management fees in full-service hotels rose by 68.14% to RMB 17.75 million [10]. - The revenue from ongoing franchise and service income in limited-service hotels increased by 2.46% to RMB 479.71 million [10]. Market Presence - The company operates hotels across 31 provinces and regions in mainland China and has a presence in 55 countries and regions internationally [10][11]. - As of December 31, 2024, the company had signed contracts for a total of 17,391 hotels, with a room capacity of 1,642,506 [9][11].