GreenTree Hospitality Group Ltd. Reports First Quarter of 2026 Financial Results

About this update from Jiangsu King's Luck Brewery Joint-stock Co., Ltd. Class A

Total revenues decreased by 14.0% year over year to RMB227.7 million (US$33.0 million)[1].Income from operations was RMB28.7 million (US$4.2 million) [1]  compared to RMB11.3 million for the first quarter of 2025. Net income was RMB14.0 million (US$2.0 million)[1] compared to RMB7.8 million for the first quarter of 2025.Core net income (non-GAAP)[3] increased 31.7% year over year to RMB23.9 million (US$3.5 million)[1].Cash from operations maintained nearly stable year over year to RMB58.1 million (US$8.4 million)[1].SHANGHAI, June 30, 2026 /PRNewswire/ -- GreenTree Hospitality Group Ltd. (NYSE: GHG) ("GreenTree", the "Company", "we", "us" and "our"), a leading hospitality and restaurant management group in China, today announced its unaudited financial results for the first quarter of 2026.First Quarter of 2026 Operational HighlightsHotelsA total of 4,605 hotels with 328,646 hotel rooms were in operation as of March 31, 2026.The Company opened 43 hotels and had a pipeline of 1,268 hotels contracted for or under development as of March 31, 2026.The average daily room rate was RMB152, a decrease of 3.4% from RMB157 in the first quarter of 2025.The occupancy rate was 62.5%, decreased from 64.0% in the first quarter of 2025.Revenue per available room, or RevPAR, was RMB95, a 5.7% year-over-year decrease.  [1] The conversion of Renminbi ("RMB") into United States dollars ("US$") is based on the exchange rate of 6.8980 on March 31, 2026 as set forth in H.10 statistical release of the U.S. Federal Reserve Board and available at https://www.federalreserve.gov/releases/h10/20260406/.[2] Adjusted net income is defined as net income excluding the impact by the exemption of fees from franchisees, impact from disposal of L&O hotel assets, impairment of goodwill and trademarks of restaurant business, impairment of assets, provisions for loan to franchisee loans, foreign exchange losses, and earnings from the disposal of investment.[3] Adjusted EBITDA (non-GAAP) is calculated as net income plus other operating expenses, income tax expense, share of loss in equity investees, net of tax, interest expense, depreciation and amortization, losses from investment in equity securities, other general expenses, and other expense, net, but excludes other operating income, interest income and other, net, gains from investment in equity securities, share...

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