New Stock News | Shanghai Jin Jiang International Hotels(600754.SH) submit application to Hong Kong Stock Exchange, has developed leading technology infrastructure including WeHotel and other hotel industry leaders.

According to the disclosure on June 29th by the Hong Kong Stock Exchange, Shanghai Jin Jiang International Hotels (600754.SH) has submitted its listing application to the main board of the Hong Kong Stock Exchange, with Orient International as the exclusive sponsor. According to the prospectus, as of December 31, 2024, Shanghai Jin Jiang International Hotels has a total of 13,416 operating hotels with 1,290,988 rooms. According to Frost & Sullivan, based on the number of operating hotels, the company is the largest hotel group in China and globally; based on the number of operating rooms, it is also the largest in China and the second largest globally. The company operates hotels through two business models: self-owned and leased hotels, as well as franchising and management of hotels. With a light-asset business model that aligns well with industry trends, the company has effectively expanded its hotel network and gained a competitive advantage. As of December 31, 2024, the number of franchised and managed hotel rooms had increased from 1,025,618 rooms on December 31, 2022 to 1,214,788 rooms (accounting for 94.1% of the total rooms) with a compound annual growth rate of 8.8%. Shanghai Jin Jiang International Hotels is a leader in the digital transformation of the Chinese hotel industry, having developed industry-leading technological infrastructure (WeHotel, GPP, and JinJiang Service Sharing Platform) that enables the company to deliver business value to customers, suppliers, and other business partners along the entire industry chain, while improving operational efficiency and profitability. WeHotel is a hotel booking platform that provides a centralized reservation solution and loyalty membership management. As of December 31, 2024, the company had approximately 1.7 million corporate customers and around 204.9 million JinJiang members in China. In 2024, the company's central reservation rate was 56.9%. In terms of financials, for the years 2022, 2023, and 2024, Shanghai Jin Jiang International Hotels achieved revenues of approximately RMB 11.31 billion, RMB 14.65 billion, and RMB 14.063 billion respectively; with net profits for the same periods of approximately RMB 269 million, RMB 1.277 billion, and RMB 1.144 billion respectively.