Shanghai Jin Jiang International Hotels Development Co Ltd A

Jin Jiang Hotels announced on September 29 that it will acquire, through negotiated transfer, the 10% equity stakes in Vienna Hotel Co., Ltd. and Shenzhen Baisuicun Catering Chain Co., Ltd. held by Huang Deman, for a total transaction price of approximately 811 million yuan. Of this, 810 million yuan will be used to acquire the 10% stake in Vienna Hotels, and 953,600 yuan to acquire the 10% stake in Baisuicun Catering. After the transaction is completed, Jin Jiang Hotels' shareholding in both companies will rise from 90% to 100%, achieving full ownership. The acquisition funds will come from its own capital and bank loans. Jin Jiang Hotels stated that this acquisition is based on the need to continuously advance business integration, management integration, and structural integration in the China region, aiming to increase resource investment, optimize the business structure, promote cost reduction and efficiency improvement, and enhance overall profitability. Vienna Hotels was established in April 2004 and is mainly engaged in hotel operation and management, with brands including Venus Royal Hotel, Vienna International Hotel, and Vienna Hotel. Baisuicun Catering was established in March 2008 and is mainly engaged in chain catering operations. Huang Deman is the founder of Vienna Hotels Group, a native of Yangjiang, Guangdong, and currently serves mainly as executive director and general manager of Shenzhen Chuancheng Holdings Co., Ltd., Shenzhen Juhe Investment Consulting Co., Ltd., and Shenzhen Vienna Star Hotel Management Co., Ltd.

HEC Pharm's controlling shareholder, Shenzhen HEC Industrial, has proposed that the company use its own or self-raised funds to repurchase A-shares, with the buyback amount set at no less than 600 million yuan and no more than 1.2 billion yuan. The repurchase price will not exceed 150% of the average trading price of the stock over the 30 trading days prior to the board resolution, and the implementation period is within six months after board approval. In an after-hours announcement the same day, Shandong Gold Mining's chairman Wang Chenglong proposed a buyback of 300 million to 400 million yuan worth of A-shares, all of which will be cancelled to reduce the company's registered capital. SUPCON Technology plans to raise the upper limit of its share repurchase price from no more than 68.53 yuan per share to no more than 133.50 yuan per share, while Huaqin Technology carried out its first buyback of 1.057 million A-shares for 79.6009 million yuan. In equity transactions, Lian Tai Environmental intends to sell 100% equity in Hunan Lian Tai and Shantou Lian Tai for a total of 1.611 billion yuan, and Jin Jiang Hotels plans to acquire an additional 10% stake each in Vienna Hotels and Baisuicun Catering for approximately 811 million yuan to achieve full ownership. In addition, Nhwa Pharmaceutical has granted Somnivera exclusive rights to an investigational innovative drug for sleep disorders, with potential milestone payments of up to 507 million US dollars.

Domestic hotel giants are making an aggressive push into the long-term rental apartment market. Huazhu will launch a "sojourn" channel on its membership platform to integrate Chengjia Apartment resources and offer weekly and monthly rental products, while Jin Jiang Hotels has unveiled the "Tuling Apartment" and "Lingju Apartment" brands. International brands such as Marriott, Accor, and Hyatt are also accelerating their positioning. Huazhu's sojourn channel covers more than 50 cities and over 100 properties. Taking first-tier cities like Beijing and Shanghai as an example, Chengjia Apartment listings in downtown locations generally range from 3,000 to 6,500 yuan per month, with some units in outlying areas priced as low as 1,100 yuan per month. Data disclosed at Jin Jiang Hotels' launch event shows that Tuling's nationwide bed count has surpassed 4,496, and Lingju's Shekou store in Shenzhen was fully leased upon opening. Chengjia Apartment told Red Star Capital Bureau on September 17 that so far about 88 percent of all sojourn orders have come from members who had previously placed orders on Huazhu's platform, while about 4 percent are newly registered Huazhu users. Li Zhanpu, a senior analyst at TravelDaily, told Red Star Capital Bureau on September 17 that the core driver is mounting growth pressure on the core hotel business, making the long-term rental apartment sector a strategic choice for exploring a second growth curve. However, he also noted that the long-term rental apartment sector itself is already very crowded, and hotel brands entering the market is equivalent to "carving out a piece of meat" from established players. In the next three to five years, hotel-affiliated players may still be unable to become mainstream forces in long-term rental apartments.

Jin Jiang Hotels released its 2026 interim report. In the first half, operating revenue reached 6.801 billion yuan, up 4.21% year on year, while net profit attributable to the parent came to 545 million yuan, up 47.05% year on year, with profit growth far outpacing revenue. Revenue per available room at directly operated hotels rose 10.7% year on year, and occupancy increased by 7.2 percentage points, reflecting steadily improving operating quality. The company had 14,404 hotels in operation and 18,417 signed hotels. In overseas operations, revenue per available room at directly operated hotels in Europe grew 7.26% year on year, while the company pushed ahead with renovating older hotels and outsourcing management. On 1 July 2026, the 7 Days Hotel at Merdeka Square in Kuala Lumpur officially opened, marking the entry of a national brand into the physical expansion phase overseas, with 15 projects already signed in Southeast Asia. In inbound tourism, overseas guest room nights at domestic limited-service hotels rose about 21% year on year. Jin Jiang Hotels is shifting from capital-driven acquisitions to exporting operational capability and brand value, and its global strategy has entered a harvest period.

Jin Jiang Hotels released its 2026 interim report. In the first half, it achieved operating revenue of 6.801 billion yuan, up 4.21% year on year; net profit attributable to the parent company was 545 million yuan, up 47.05% year on year; net profit after deducting non-recurring items was 593 million yuan, up 45.16% year on year. Net cash flow from operating activities reached 2.103 billion yuan, up 57.95% year on year, while finance costs fell 16.36% year on year, as the financial structure continued to improve. During the first half, the company completed upgrades and renovations of 381 existing franchised hotels. The central reservation rate for domestic limited-service hotels rose to 74.6%, and the online direct-sales reservation rate rose to 36.7%, an increase of 9.3 percentage points year on year. Revenue per available room at directly operated hotels was 139.84 yuan per room, up 10.68% year on year. In overseas operations, Louvre Hotels Group strategically exited some underperforming stores in France and the Netherlands, pushed forward renovations of more than 40 older hotels, and rolled out a management outsourcing model for about 20 hotels. The member contribution rate reached 75.57%, and its Wind ESG rating jumped from A to AA.

A subsidiary of Jin Jiang Hotels has signed a three-year strategic memorandum of understanding with Trip.com Travel Singapore Pte. Ltd. to deepen engagement across the ten ASEAN nations. The collaboration introduces a unified fixed commission structure for participating properties, replacing volatile floating models to enhance transparency and cost predictability for franchisees. The partnership will combine Jin Jiang's offline hospitality portfolio with Trip.com's online global traffic to create a seamless tourism and accommodation ecosystem, addressing overseas customer acquisition challenges and boosting occupancy rates. Jin Jiang has also deployed dedicated development and operations teams in Malaysia, Indonesia, and Vietnam to support localized growth and upcoming property openings across Southeast Asia.

Jin Jiang Hotels plans to transfer its entire direct and indirect 100% stake in Shanghai Jin Jiang International Food and Catering Management Company to its related party, Shanghai Jin Jiang City Services Company, for 24.67 million yuan. Jin Jiang City Services is wholly owned by Jin Jiang International Holdings Company, the indirect controlling shareholder of Jin Jiang Hotels, making this a related-party transaction. The company expects the deal to generate a pre-tax gain of about 13 million yuan. After completion, it will no longer hold any equity in Jin Jiang Food, and Jin Jiang Food will no longer be included in the consolidated financial statements. In the first quarter of 2026, Jin Jiang Hotels reported revenue of 3.121 billion yuan and net profit attributable to the parent of 137 million yuan.