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The exhibition features 171 marvelous artifacts related to the ancient city of Dunhuang HANGZHOU, China, July 12, 2023 /PRNewswire/ -- The China National Silk Museum kicked off the fourth annual Silk Road Week on July 12, 2023, with the announcement of this year's theme entitled, "The Silk Roads: Long Roads, Mutual Goals." The highlight of this event is the Silk Road themed exhibition "Convergence of Civilizations: Dunhuang on the Silk Road" which contains 171 marvelous artifacts related to the ancient city of Dunhuang. The exhibition gallery Divided into four sections, Politics, Economy, and Trade of Dunhuang in Ancient Times; Society and Life in Dunhuang in Ancient Times; Millennium Friendship between Dunhuang and Zhejiang Province; and Caves and Mural Arts in Dunhuang, the exhibition showcases ancient Dunhuang's glittering past along the Silk Roads from a variety of perspectives, including politics, military, economy, trade, cultural life, among others. Situated at the west end of the Hexi Corridor, Dunhuang was the transportation hub of the Silk Road and the gate to the western regions since Emperor Wu of the Han Dynasty, where bustling scenes of visiting emissaries and traveling merchants jostling with one another could be seen. On land and on the numerous ships calling at ports vividly interpreted the Chinese diplomatic concept of peace and cooperation, openness and inclusiveness, mutual learning, and mutual benefit. Another attractive focal point of this Dunhuang exhibition is the simulated reconstruction of Cave 285 of the Mogao Caves in the museum gallery. Rich in artistic and religious aspects, Cave 285 describes not only Buddhism but also Taoism, as well as Brahmanism in India, vividly depicting the convergence of Eastern and Western religious arts. Aside from the Dunhuang exhibition, this year's Silk Road Week will also feature a Dunhuang Stories lecture series, a Silk Road Coloring Game, a Silk Roads in Youth Eyes painting exhibition, among multiple others. Additionally, the Silk and Silk Roads Symposium which will gather museum directors and researchers from France, Thailand, Uzbekistan, Spain, Italy, Hungary, and China who have been invited to exchange their ideas and experiences regarding the themes of New Trends in Museum Curating and Dunhuang and the Silk Roads. Launched in conjunction with the symposium, the Curators' Forum will organize on-site visits in different themed museums in Hangzhou and Ningbo, which will allow participants to study the widely-acclaimed exhibitions and conduct specialized exchanges with the curators.
Arasan 宣佈近日 MIPI CSI IP 通過 ISO26262 ASIL-C 功能認證，支援 MIPI D-PHY 和 C-PHY v2.0，速度高達 54.72 Gbps 加州聖何西2023年7月12日 /美通社/ -- 頂尖流動儲存和 IP 連接解決方案提供商 Arasan，很高興地宣佈其生產的 MIPI CSI-2 IP，近日獲得 ISO26262 ASIL-C 功能認證。Arasan 的 MIPI CSI IP 獲得該認證，並與 MIPI C-PHY IP 和 D-PHY IP 無縫整合。它於 C-PHY 模式中運行，速度高達 54.72Gbps。 Arasan 的 CSI-2 IP 獲得 ISO26262 ASIL-C 認證，即符合汽車「單晶片系統」(SoC) 的嚴格安全要求。除此以外，該認證還擴展其使用性至國防、飛機和其他行業。在這些行業中，CSI-2 IP 及其更大寬度的匯流排，可以於 FPGA 上，與內置 D-PHY 或 Arasan 的 C-PHY ASIC 一起使用。 Arasan 獲 ISO26262 ASIL-C 功能認證，更進一步證明該公司對安全合規的承諾。該公司的 IP 已廣泛應用於多種協定分析儀、實驗室為本的合規測試儀和大量生產測試儀，以評估是否符合 MIPI 協定。 尋求研發原型或限量生產高解像度相機產品的攝影器材公司，可以授權 Arasan 的 CSI IP，以與 MIPI C-PHY/D-PHY Combo ASIC 結合使用。 除 MIPI CSI-2 IP 外，Arasan 還為汽車 SoC 提供綜合 IP 解決方案組合，包括乙太網路、CAN FD/XL 和 USB。 經過 ISO26262 ASIL-C 認證的 MIPI CSI-2 IP 可隨時獲取授權，同時符合 SoC 和 FPGA 的應用需求。獲 Arasan CSI 控制器 IP 授權的客戶，可以確保符合規格，從而增強用於合規測試的信心。 關於 Arasan： 自 2005 年以來，Arasan Chip Systems 一直是 MIPI 協會的活躍成員，並為流動儲存和連接介面提供 IP 解決方案。Arasan 的 MIPI IP 芯片產量超過 10 億，並以優質兼經矽驗證的完整 IP 解決方案而聞名，當中包括數碼 IP、AMS PHY IP、驗證 IP、HDK 和軟體。Arasan 以流動 SoC 為重點，已發展至涵蓋廣泛應用，從 90 年代中期的 PDA，至現時的汽車、無人機和物聯網裝置。Arasan 始終為「流動」發展的先驅，提供標準為本兼成為流動 SoC 基礎的 IP。 媒體聯絡人：Bonnie Nouferbonnie.noufer@arasan.com
SHANGHAI, July 12, 2023 /PRNewswire/ -- On the afternoon of July 6, a forum dedicated to advances in brain-computer intelligence was held at the Shanghai World Expo Exhibition & Convention Center as a part of the 2023 World Artificial Intelligence Conference. The forum was held under the aegis of the Chinese Academy of Sciences Shanghai Branch, and was co-organized by the Shanghai Institute of Microsystem and Information Technology, Chinese Academy of Sciences (SIMIT), the Tianqiao and Chrissy Chen Institute (TCCI), the Brain-Computer Interface and Interaction Subcommittee of the Chinese Society for Neuroscience, and NeuroXess. NeuroXess FlexShuttle Mini, a surgical robot for flexible electrode implantation Building on last year's successful brain science forum, SIMIT assumed a leading role in this year's event, focusing on the convergence of biotechnology technology and information technology (BTIT). The event encompassed high-level academic exchanges, extensive clinical practices, and in-depth exploration of industry trends. Leading researchers from around the world congregated at the venue to share knowledge and participate in academic discussions. In collaboration with several research organizations, NeuroXess unveiled seven cutting-edge research achievements that traverse the realms of academia, scientific research, and clinical medicine within the field of brain-machine interfaces. A presentation on the research achievements in the field of brain-computer interfaces documented the advances as they apply to academia, scientific research and clinical medicine Brain-machine interfaces have become a focal point at the intersection of the two technologies. In the current environment where collaboration is the theme of the day, the forum, titled "Cross-Boundary Fusion," was held at the World Expo Exhibition & Convention Center, creating a perfect showcase for the smart connected world that we are now entering. During the forum, NeuroXess delivered a presentation highlighting seven recent and important research achievements that touched on academic, research, and clinical aspects of the newly emerging field. The presentation featured video clips providing detailed insights into the research and experimental processes for each project. Notably, the presentation showcased tangible results, a new lineup of surgical robots alongside the latest solutions for advancing research in the field. On exhibit at the event and viewable to the public for the first time were the FlexShuttle and FlexShuttle Mini, two surgical robots designed for flexible electrode implantation, and the M2 brainwave acquisition chip. Making R&D resources more available and getting buy-in from doctors on the clinical side are necessary steps to enabling further advancements in the field Two key challenges must be addressed and resolved to progress the sector the next stage: one is identifying and engaging the right R&D resources in the research, and the other is gaining acceptance from the general public, and especially from the medical community, that BTIT is the path of the future. At the event, the Science Communication Center of Shanghai Science and Technology Museum and NeuroXess formally signed a memorandum of cooperation to jointly engage in projects that contribute to the furthering of understanding about brain science. Together, they will develop educational materials targeting both the medical community and the general public, highlighting the sector's potential and the benefits that it can deliver. The agreement was signed by Song Xian, Deputy Director of the Science Communication Center of Shanghai Science and Technology Museum, and Peng Lei, CEO of NeuroXess. As part of the collaboration, the two parties will showcase brain-computer interface technology and research achievements to the public through documentary-style short films. Additionally, they will establish a local education program to be named the "Shanghai Popular Science Lectures" to introduce cutting-edge scientific and technological resources into classrooms and venues accessible to the general public. After more than half a century of experimentation, brain-computer interface technology and products are gradually coming into their own. However, as an emerging technology, its research and applications still face ethical and safety challenges. To enhance the comprehension of the clinical applications of implanted brain-computer interfaces, gain the trust of medical practitioners across China and foster the necessary resources for further scientific research, the Brain-Computer Interface and Interaction Subcommittee of the Chinese Society for Neuroscience and the National Neurological Disease Medical Center (Huashan Hospital) formally co-launched the project entitled "Ethical Expert Consensus on the Medical Clinical Application of Implantable Brain-Machine Interfaces." Furthermore, the initiative aims to prevent any potential confusion that could arise in terms of diagnosis and treatment practices. As the technological revolution enters the next round, interdisciplinary integration has emerged as a prevailing trend, and innovation-driven development has gained global consensus. The era of the metaverse, where the virtual and the real coexist, represents another dimension of the forthcoming technological revolution. With the successful conclusion of this forum and the presentation on research achievements in the world of brain-computer interfaces, NeuroXess remains committed to further exploring technological advancements in the coming year. Stay tuned for more updates!
全新又一城分行特設智能櫃位並配以貼心簡易版Mobile App 香港2023年7月12日 /美通社/ -- 恒生銀行（「恒生」）引進全新「未來銀行」服務概念。今天（7月12日）於九龍塘又一城開幕的分行，展現了3項全港銀行首創的服務和營運方案，與客戶攜手邁向未來。 分行內設香港首個銀行智能櫃位，糅合人性化的服務模式和嶄新數碼科技，如今客戶一進入分行即可使用大堂的智能櫃位靈活和快捷地處理大部分的銀行服務類別，包括處理涵蓋港幣、人民幣及美元的現金紙幣存款，及在職員協助下完成大部分銀行賬戶事宜，省卻輪候櫃位服務的時間。 貼心的數碼流動理財服務亦是「未來銀行」的另一焦點。為配合「未來銀行」多元的發展，恒生Mobile App將於7月底增設貼心簡易版，提供較簡單易用的介面方便客戶處理基本的數碼銀行服務，讓不同喜好和年齡層的客戶均可普及地享用流動理財。新推出的貼心簡易版Mobile App更特別加設全港首次採用的舉報功能，客戶如發現可疑銀行或信用卡交易即可直接聯絡職員。作為香港最大的本地銀行，恒生積極支持監管機構和執法部門打擊騙案，致力投放資源提升客戶的保障。 為了創造可持續發展的未來，又一城分行將環保元素落實至每項細節，特別引入領先的減碳系統，透過水生微藻反應器淨化分行環境內的二氧化碳，成為全港第一間銀行採用此綠色方案。 恒生銀行執行董事兼行政總裁施穎茵表示：「恒生引進『未來銀行』服務概念，以創新破格的思維預視客戶的未來需要，配以先進的科技元素及可持續發展的理念，為客戶提供具創見、貼心和擁抱未來的銀行服務。全新又一城分行的開幕正正啟動了我們為客戶提供『未來銀行』服務的承諾，亦秉承了恒生的品牌理念。我們將繼續為客戶帶來更多新服務、新面貌，貫徹『恒變生無限』的精神。」 另外，恒生全線分行的職員亦將於今季換上新制服。新制服採用環保物料製作，輕便舒適之餘，淺綠色的配搭更凸顯恒生的活力形象。在今天的開幕禮中，恒生銀行亦安排了一場別開生面的時裝表演，由一眾小朋友穿上恒生銀行90年來不同的制服，並由恒生員工壓軸變身模特兒，穿上全新的制服展示人前，成為全場焦點。 恒生銀行執行董事兼行政總裁施穎茵介紹全新「未來銀行」服務概念，貫徹該行「恒變生無限」的精神。 恒生銀行執行董事兼行政總裁施穎茵（後排右二）、財富管理及個人銀行業務主管李樺倫（後排左二），和一眾由小朋友與恒生員工化身的模特兒，展示恒生過往及全新制服。 恒生銀行財富管理及個人銀行業務主管李樺倫（左）與個人銀行業務分銷主管麥中和（右）攜手展示在恒生又一城分行的全港首個智能櫃位，為客戶提供更快捷和更方便的銀行服務體驗。 恒生銀行個人銀行業務分銷主管麥中和（右）與數碼銀行主管賴芳玲（左） 介紹「未來銀行」服務為客戶帶來創新的線上線下服務。 恒生Mobile App將增設貼心簡易版，提供較簡單易用的介面方便客戶處理基本的數碼銀行服務，並加設舉報功能，客戶如發現可疑銀行或信用卡交易即可直接聯絡職員。 恒生銀行全新的又一城分行引進全新「未來銀行」服務概念。 關於恒生銀行 恒生銀行創立於1933 年，今年慶祝成立90周年。該行一直與時俱進，為個人及商業客戶提供優質及以客為本的銀行、投資和理財服務。恒生被譽為香港領先的本地銀行，現時服務超過350 萬名客戶。 憑藉獲獎無數的流動理財服務應用程式及優秀的數碼能力，並透過在香港超過260 個服務網點，恒生銀行為客戶提供無縫的線上線下全方位服務體驗，隨時隨地配合客戶的理財需要。 該行全資附屬公司恒生銀行(中國)有限公司在內地近20個主要城市設有網點，為不斷增長的當地及有跨境理財需要的客戶提供服務。該行亦於澳門及新加坡設有分行，以及於台北設有代表處。 恒生銀行植根香港，與社區緊密連繫。為支持社區，該行展開不同的社區及環保項目，主要涵蓋年輕人未來所需技能、可持續金融及金融知識、應對氣候變化及關懷社區。 恒生銀行為全球最大金融服務機構之㇐的滙豐集團之主要成員。有關恒生銀行其他資料，請瀏覽該行網頁www.hangseng.com。
PARIS, July 12, 2023 /PRNewswire/ -- Appearing rapidly at the head of the international art scene in 2010 with an annual art auction turnover total suddenly exceeding $3 billion, the Chinese marketplace has gradually structured itself around Beijing, Shanghai, and Guangzhou, but also increasingly around Hong Kong. Indeed, since the Covid-19 health crisis, Hong Kong has become the primary art market hub in the entire Asia-Pacific region. This year, however – and for the first time in ten years – Hong Kong is experiencing a slight contraction in its art market activity. Meanwhile, mainland China is slowly returning to a growth path. China’s Fine Art auction turnover thierry Ehrmann, President of Artmarket.com and Founder of Artprice: "We have had a privileged partnership with the Chinese group Artron for over a decade, and it is this long collaboration that allows our joint reports to identify and analyze the stabilization of China's art market, with an effective reorganization of its market". Two works fetched over $30 million At $33.1 million, on 24 February 2023 in Beijing, Yongle Auction hammered China's best fine art result of H1 for an ink on paper by Cui Ruzhuo, Rafting In Wind And Rain (2019). It was also the best result in mainland China for over five years. But it was only the 18th best fine art auction result in mainland China's auction history, a long way behind the $140 million hammered in 2017 for the 12 drawings that make up Qi Baishi's Screens of Landscapes (1925). In Hong Kong, on 5 April 2023, an ink on paper enhanced with gold by Zhang Daqian, Pink Lotuses on Gold Screen (1973), was acquired for $32.1 million at Sotheby's. The island still fosters and promotes exchanges between East and West, recording multi-million dollar results for works by Yoshitomo Nara and Yayoi Kusama and works by Pablo Picasso and Jean-Michel Basquiat. At the start of the year, canvases by Miro, Magritte, Zao-Wou-ki, and Chagall naturally blended with sculptures by Jeff Koons and ultra-contemporary works by Matthew Wong, Nicolas Party, and Avery Singer in the finest Hong Kong catalogs. In total, Artprice has detailed data for nearly 16,000 fine art lots sold at auctions throughout China between 1 January and 30 June 2023. Hong Kong retains the highest average fine art lot price in the world (just under $230,000) with 2,600 works generating $595 million (incl. buyer's fees). But mainland China's data is also honorable with over 10,000 lots fetching an average price of $78,000. +180% growth in mainland China While the art market is experiencing a sharp contraction in almost all Western countries, mainland China has posted relatively positive figures for H1 2023. Although it is still far from its exceptional performances of ten years ago, the country's fine art auction market generated almost three times more turnover than in H1 2022, which was hampered by the country's zero-covid policy at the time. However, the recent dynamism may have been boosted by sales that were simply rescheduled from last year; so it remains to be seen if the second half will post equally buoyant figures. The performances of Chinese auction houses China Guardian, Poly, Yongle, Rombon, and Xilling have once again become all the more important since Western auction operators are no longer hosting sales in mainland China for the time being. Their sales have been entirely focused on Hong Kong, consolidating a turnover that has been growing steadily over the last two decades. There is little doubt that the international art market is eager to see key works by the superstars of contemporary Chinese art resurface on the market. In H1 we saw several 7-digit results for works by Chen Yifei, Liu Ye, and Zhou Chunya, among others, and Bonhams sold Zeng Fanzhi Mask 2000 No. 3 (2000) for $3.1 million in Hong Kong. This result is consistent with those recorded ten years ago for the same series, but the works of these great names of 'new Chinese painting' have been circulating with much less intensity, and their masterpieces have been surprisingly discreet in auction rooms over the past three years. Images: [https://imgpublic.artprice.com/img/wp/sites/11/2023/07/image1-china-s-fine-art-auction-turnover.png] [https://imgpublic.artprice.com/img/wp/sites/11/2023/07/image2-Zhang-Xiaogang-Wan-Jie-thierry-Ehrmann.jpg] Copyright 1987-2023 thierry Ehrmann www.artprice.com - www.artmarket.com Don't hesitate to contact our Econometrics Department for your requirements regarding statistics and personalized studies: econometrics@artprice.com Try our services (free demo): https://www.artprice.com/demo Subscribe to our services: https://www.artprice.com/subscription About Artmarket: Artmarket.com is listed on Eurolist by Euronext Paris, SRD long only and Euroclear: 7478 - Bloomberg: PRC - Reuters: ARTF. Discover Artmarket and its Artprice department on video: www.artprice.com/video Artmarket and its Artprice department was founded in 1997 by its CEO, thierry Ehrmann. Artmarket and its Artprice department is controlled by Groupe Serveur, created in 1987. See certified biography in Who's who ©:https://imgpublic.artprice.com/img/wp/sites/11/2023/04/2023_2_Biographie-thierry-Ehrmann_WhosWhoInFrance.pdf Artmarket is a global player in the Art Market with, among other structures, its Artprice department, world leader in the accumulation, management and exploitation of historical and current art market information in databanks containing over 30 million indices and auction results, covering more than 817,000 artists. Artprice by Artmarket, the world leader in information on the art market, has set itself the ambition through its Global Standardized Marketplace to be the world's leading Fine Art NFT platform. Artprice Images® allows unlimited access to the largest Art Market image bank in the world: no less than 180 million digital images of photographs or engraved reproductions of artworks from 1700 to the present day, commented by our art historians. Artmarket with its Artprice department accumulates data on a permanent basis from 7200 Auction Houses and produces key Art Market information for the main press and media agencies (7,200 publications). Its 7.2 million ('members log in'+social media) users have access to ads posted by other members, a network that today represents the leading Global Standardized Marketplace® to buy and sell artworks at a fixed or bid price (auctions regulated by paragraphs 2 and 3 of Article L 321.3 of France's Commercial Code). Artmarket, with its Artprice department, has twice been awarded the State label "Innovative Company" by the Public Investment Bank (BPI), which has supported the company in its project to consolidate its position as a global player in the art market. Artprice by Artmarket's Global Art Market Report, "The Art Market in 2022", published in March 2023:https://www.artprice.com/artprice-reports/the-art-market-in-2022 Artprice releases its 2022 Ultra-Contemporary Art Market Report:https://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2022 The Artprice 2022 half-year report: the art market returns to strong growth in the West:https://www.artprice.com/artprice-reports/global-art-market-in-h1-2022-by-artprice-com Index of press releases posted by Artmarket with its Artprice department:https://serveur.serveur.com/artmarket/press-release/en/ Follow all the Art Market news in real time with Artmarket and its Artprice department on Facebook and Twitter: www.facebook.com/artpricedotcom/ (over 6.3 million followers) twitter.com/artmarketdotcom twitter.com/artpricedotcom Discover the alchemy and universe of Artmarket and its artprice department https://www.artprice.com/video headquartered at the famous Organe Contemporary Art Museum "The Abode of Chaos" (dixit The New York Times): https://issuu.com/demeureduchaos/docs/demeureduchaos-abodeofchaos-opus-ix-1999-2013 L'Obs - The Museum of the Future: https://youtu.be/29LXBPJrs-o www.facebook.com/la.demeure.du.chaos.theabodeofchaos999 (over 4 million followers) https://vimeo.com/124643720 Contact Artmarket.com and its Artprice department - Contact: Thierry Ehrmann, ir@artmarket.com Artist Zhang Xiaogang in his studio, with Wan Jie, CEO of the Artron Group (left), and thierry Ehrmann, President of Artmarket.com and Founder of Artprice (right)
SHANGHAI, July 12, 2023 /PRNewswire/ -- GreenTree Hospitality Group Ltd. (NYSE: GHG) ("GreenTree", the "Company", "we", "us" and "our"), a leading hospitality management group in China, today announced selected preliminary results for the first quarter of 2023. Financial Results Total revenues for the first quarter of 2023 are estimated to be approximately RMB371.1 million (US$54.0 million)[1] to RMB389.1 million (US$56.7 million)[1].Total revenues from organic hotels increased by 16.8% year over year to approximately RMB252.6 million (US$36.8 million)[1] for the first quarter of 2023. Income from operations for the first quarter of 2023 are estimated to be approximately RMB55.4 million (US$8.1 million) [1] to RMB60.4 million (US$8.8 million) [1].Income from operations of organic hotels increased by 397.4% year over year to approximately RMB57.2 million (US$8.3 million) [1] for the first quarter of 2023. Operational Highlights As previously disclosed, the Company completed the acquisition of Da Niang Dumplings and Bellagio from its controlling shareholder. As of March 31, 2023, Da Niang had 92 self-operated restaurants and 132 franchised restaurants, and Bellagio had 28 self-operated restaurants and eight franchised restaurants. A total of 4,084 hotels (all organic hotels) with 302,425 hotel rooms were in operation as of March 31, 2023, compared to 3,907 organic hotels and 294,525 hotel rooms as of March 31, 2022. As of March 31, 2023, the Company had 64 leased-and-operated, or L&O, hotels and 4,020 franchised-and-managed, or F&M, hotels in operation in 355 cities across China, compared to 56 L&O hotels and 3,851 F&M hotels (all organic hotels) in operation in 351 cities across China as of March 31, 2022. During the first quarter of 2023, the Company opened 91 hotels, an increase of three compared to 88 hotels opened in the first quarter of 2022. Of the hotels opened in the first quarter of 2023, 12 were in the mid-to-up-scale segment, 50 were in the mid-scale segment, and 29 were in the economy segment. Geographically, nine hotels were in Tier 1 cities[2], 18 were in Tier 2 cities and the remaining 64 were in Tier 3 and lower cities in China as of March 31, 2023. As of March 31, 2023, the Company had a pipeline of 957 hotels contracted for or under development with 250 in the mid-to-up-scale segment, 506 in the mid-scale segment, and 201 in the economy segment. The average daily room rate, or ADR, for all organic hotels in operation was RMB167 in the first quarter of 2023, an increase of 8.1% from RMB155 in the first quarter of 2022. The occupancy rate, or OCC, for all organic hotels in operation was 71.7% in the first quarter of 2023, compared to 62.1% in the first quarter of 2022. The revenue per available room, or RevPAR, which is calculated by multiplying our hotels' ADR by its occupancy rate, was RMB120 in the first quarter of 2023, a 24.8% year-over-year increase from RMB96 in the first quarter of 2022. As of March 31, 2023, the Company's loyalty program had over 80 million individual members and approximately 1,950,000 corporate members, compared to over 72 million individual members and approximately 1,885,000 corporate members as of March 31, 2022. The Company expects to release its first quarter together with second quarter of 2023 financial results around mid-September of 2023, to be followed by a conference call that same day. "The first quarter of 2023 marked a fresh beginning thanks to the recovery in the hospitality industry and the entire economy in China. RevPAR recovered to 94.3% of its first quarter of 2019 level. As we entered the second quarter, RevPAR during the national Labor Day holiday in early May reached more than 120% of its level in the same period in 2019, capitalizing on the popularity of travel during the national holiday period. In March of 2023, we completed our acquisition of Da Niang Dumplings and Bellagio. As of March 31, 2023, the restaurant business was comprised of 120 self-operated restaurants and 140 franchised restaurants. The restaurant business is estimated to have generated a combined unaudited revenue of about RMB118.5 million (US$17.3 million)[1] to RMB136.5 million (US$19.9 million)[1] in the first quarter of 2023. We are grateful for the hard work of our team, franchisees, and partners that made it possible to recover quickly in the first quarter of 2023 as China began returning to normal life," said Mr. Alex Xu, Chairman and Chief Executive Officer of GreenTree. About GreenTree Hospitality Group Ltd. GreenTree Hospitality Group Ltd. ("GreenTree" or the "Company") (NYSE: GHG) is a leading hospitality management group in China. As of March 31, 2023, GreenTree had a total number of 4,084 hotels. In 2021, HOTELS magazine ranked GreenTree Top 11 Ranking among the 225 largest global hotel groups in terms of number of hotels in its annual HOTELS' 225. GreenTree was also the fourth largest hospitality company in China in 2022 based on the statistics issued by the China Hospitality Association. GreenTree has a broad portfolio of diverse brands spanning from the economy to mid-scale and up-scale segments of the hospitality industry, mainly in China. Through its strong membership base, expansive booking network, superior system management with moderate charges, and fully supported by its operating departments including Decoration, Engineering, Purchasing, Operation, IT and Finance, GreenTree aims to keep closer relationships with all of its clients and partners by providing a diverse brand portfolio that features comfort, style and value. For more information on GreenTree, please visit http://ir.998.com Safe Harbor Statements This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. In some cases, these forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to," "confident," "future," or other similar expressions. GreenTree may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about or based on GreenTree's current beliefs, expectations, assumptions, estimates and projections about us and our industry, are forward-looking statements that involve known and unknown factors, risks and uncertainties that may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. Such factors and risks include, but not limited to the following: GreenTree's goals and growth strategies; its future business development, financial condition and results of operations; trends in the hospitality industry in China and globally; competition in our industry; fluctuations in general economic and business conditions in China and other regions where we operate; the regulatory environment in which we and our franchisees operate; and assumptions underlying or related to any of the foregoing. You should not place undue reliance on these forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided, including the forward-looking statements made, in this press release are current as of the date of the press release. Except as required by law, GreenTree undertakes no obligation to update any such information or forward-looking statements to reflect events or circumstances after the date on which the information is provided or statements are made, or to reflect the occurrence of unanticipated events. For more information, please contact: GreenTree Ms. Selina YangPhone: +86-158-2166-6251E-mail: ir@998.com Mr. Allen WangPhone: +86-181-0184-0639E-mail: ir@998.com Christensen In ShanghaiMr. Jerry XuPhone: +86-138-1680-0706E-mail: mailto:jerry.xu@christensencomms.com In Hong Kong Ms. Karen Hui Phone: +852-9266-4140 E-mail: karen.hui@christensencomms.com In the US Ms. Linda Bergkamp Phone: +1-480-614-3004E-mail: linda.bergkamp@christensencomms.com [1]. "The conversion of Renminbi ("RMB") into United States dollars ("US$") is based on the exchange rate of US$1.00=RMB6.8676 on March 31, 2023 as set forth in H.10 statistical release of the U.S. Federal Reserve Board and available at https://www.federalreserve.gov/releases/h10/20210405/ ". [2]. Tier 1 Cities refers to Beijing, Shanghai, Shenzhen and Guangzhou; Tier 2 Cities refers to the 32 major cities, other than Tier 1 Cities, including provincial capitals, administrative capitals of autonomous regions, direct-controlled municipalities and other major cities designated as municipalities with independent planning by the State Council.
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