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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.
BEIJING, July 10, 2023 /PRNewswire/ -- Have you ever seen an opera where the actors perform breathtaking stunts like breathing fire? How are Chengdu's unique arts, like Sichuan Opera, becoming a part of an international athletic event? There's no shortage of operas in China, with Peking Opera being one of the first to come to the minds of many. But in Chengdu, opera is done a little differently. Originating 400 years ago as the fusion of different cultures from all over China, Sichuan Opera can be likened to a type of comedy performance where actors double as stuntmen performing insane tricks like fire breathing and high-speed, seemingly-magic mask changing. Another hallmark of Chengdu culture, Sichuan Embroidery, also stands out from other sewing arts with its vibrant colors, 3000-year-long history, and over 130 stitching techniques. In this video, American host Jack Klumpp gets suited up in real opera costume and makeup for his debut Sichuan Opera performance. He also discovers just what can be done with a little needle and thread when he learns Sichuan embroidery from a lifelong master of the art. How does Chengdu show off its own unique style with classic arts like opera and embroidery? How are the University Games hosted in Chengdu going to take this city's one-of-a-kind culture to the next level? Contact: Li SiweiTel:008610-68996566E-mail: lisiwei5125@gmail.com YouTube Link: https://youtu.be/kBozHRG5YN0
Normal 0 0 2 false false false EN-US ZH-TW X-NONE 如果用一個詞來描述夏天，你會怎麽形容呢？想必對很多人來說，夏天有一種味道那就是：荔枝味！“一騎紅塵妃子笑”，說出了荔枝的美味與嬌貴，荔枝喻爲古今最浪漫的水果。當夏天遇上荔枝，鮮甜芳香，一口傾心。 尤其立夏已至，想要優雅地度過夏天，除了和空調相親相愛之外，手中必不能少一杯清清凉凉的夏日飲品，王者香首創的荔枝凍飲系列：「荔枝紅茶凍飲」回歸了！連續三年以來一直是王者香的夏季人氣商品，養顔不上火。清甜爽口荔枝和滇古紅茶、手作茶凍的創新融合，香甜不膩，口感濃鬱。結合醇厚荔枝果香與清新茶香，每口就像在吃新鮮荔枝的輕盈涼爽。 飽滿的荔枝酸甜多汁，搭配馥鬱的茶香，今年更升級推出可搭配綠茶、紅茶、青茶、觀音四種基底的組合，滿足所有人的味蕾。手做茶凍晶瑩剔透，口感冰凉，每一口都是新鮮、沁爽，回味無窮。荔枝紅茶凍飲，果香與花香的碰撞，有種戀愛的味道，一絲絲清爽，讓您清凉一夏~ 坐落在逢甲商區一隅的王者香逢甲店，安靜、低調。清新的白色外觀和店內的綠植，即便是在人來人往的周末，坐在店內品茶時，也能讓你擁有度假般的愜意感。今年更參與台灣觀光局、日本觀光廳、日本旅行業協會，共同推動的「遊台灣，金福氣」旅遊計畫，向更多海外遊客介紹源自於台灣的蘭花茶，以及在台中逢甲商圈才能品嚐到的「王后獨寵」、「紫檸公主」、「玫瑰騎士」….獨家好滋味。 立夏已至，讓人又愛又恨的夏天迎面而來~趕快抓緊機會！荔枝紅茶凍飲系列，果香與花香的碰撞，有種戀愛的味道，讓您一秒擁有初夏的快樂！ 【王者香逢甲店。蘭花繡茶】 店家地址：台中市西屯區慶和街77號(逢甲夜市) 訂購電話：0983-435274 營業時間：星期一到星期五9:00–20:00 星期六17:00–22:00；星期日公休 加入line好友享不定期超值優惠卷 https://lin.ee/jcN4yHE
DALLAS, July 8, 2023 /PRNewswire/ -- X-BULL, a renowned brand in the Australian off-road recovery industry, has officially opened its inaugural store in the United States. With its products reaching every corner of the Australian terrain, X-BULL has become synonymous with off-road enthusiasts. Whether it's the vast Victoria Desert, the densely forested Leamington National Park, beautiful beaches, or treacherous streams, X-BULL's off-road recovery products can be seen in use. X-BULL has gained the admiration of Australian off-road enthusiasts for its resilient winches, recovery boards, exceptional quality, competitive pricing, and outstanding customer service. Presently, X-BULL commands an 83% market share in the Australian online market, with various product models being shipped daily to cities such as Sydney, New South Wales, and Perth, providing trusted safety assurances to these pioneering off-roaders. Since its introduction to the US market in 2016, X-BULL has experienced rapid growth. Through e-commerce platforms like Amazon and eBay, the brand has consistently supplied high-quality products to off-road enthusiasts throughout the country. By June 2023, X-BULL had sold over a million electric winches across the US. The increasing demand from US customers, coupled with the loyalty of X-BULL enthusiasts, led to the idea of opening the brand's first store in the US. After a careful two-year site selection process, X-BULL's parent company purchased a warehouse in Dallas and established the first US retail store in July of this year. "On the opening day, the store was filled with local off-road enthusiasts and invited X-BULL fans!" exclaimed Justin, the sales manager of X-BULL Dallas, enthusiastically describing the bustling opening scene and the well-organized layout of the expansive warehouse located behind the store. Spanning nearly 21,000 square feet, the warehouse features neatly arranged shelves showcasing a wide range of winches. Electric forklifts continuously traverse the warehouse, efficiently handling the dispatch of goods. The launch of the Dallas retail store represents a significant foray for X-BULL into the US offline market—an important extension of its online platform business into nationwide retail operations. It is anticipated that in the near future, X-BULL will establish a growing network of retail stores throughout the United States, providing enhanced off-road equipment and elevating the off-road experience for enthusiasts across the nation. Presently, X-BULL has a single store in the US, but its products are available for purchase on platforms such as Amazon, eBay, Walmart, and their official website. Media ContactsX-BULLOfficial Website:www.xbullauto.comE-mail: sales@xbull.com
BEIJING, July 7, 2023 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S. listed EV charging service company in China, announced that LMR Partners Limited completed the purchase of the US$30 million convertible note from the Company, convertible into American depositary shares representing the Company's ordinary shares, on July 6, 2023 pursuant to the convertible note purchase agreement and the derivative arrangement entered into between the parties as previously announced on June 29, 2023. About NaaS Technology Inc. NaaS Technology Inc. is the first U.S. listed EV charging service company in China. The Company is a subsidiary of Newlinks Technology Limited, a leading energy digitalization group in China. The Company provides one-stop EV charging solutions to charging stations comprising online EV charging, offline EV charging and innovative and other solutions, supporting every stage of the station lifecycle. As of March 31, 2023, NaaS had connected over 575,000 chargers covering 55,000 charging stations, representing 40% and 49% of China's public charging market share respectively. On June 13, 2022, the American depositary shares of the Company started trading on Nasdaq under the stock code NAAS. Safe Harbor Statement This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as "will," "expects," "believes," "anticipates," "intends," "estimates" and similar statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. All information provided in this press release is as of the date hereof, and the Company undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NaaS' goals and strategies; its future business development, financial conditions and results of operations; its ability to continuously develop new technology, services and products and keep up with changes in the industries in which it operates; growth of China's EV charging industry and EV charging service industry and NaaS' future business development; demand for and market acceptance of NaaS' products and services; NaaS' ability to protect and enforce its intellectual property rights; NaaS' ability to attract and retain qualified executives and personnel; the impact of the COVID-19 pandemic and the effects of government and other measures taken in relation thereto; U.S.-China trade war and its effect on NaaS' operation, fluctuations of the RMB exchange rate, and NaaS' ability to obtain adequate financing for its planned capital expenditure requirements; NaaS' relationships with end-users, customers, suppliers and other business partners; competition in the industry; relevant government policies and regulations related to the industry; and fluctuations in general economic and business conditions in China and globally. Further information regarding these and other risks is included in NaaS' filings with the U.S. Securities and Exchange Commission. For investor and media inquiries, please contact: Investor RelationsNaaS Technology Inc.E-mail: ir@enaas.com Media inquiries:E-mail: pr@enaas.com
CHINA YUCHAI INTERNATIONAL LIMITED SINGAPORE, July 7, 2023 /PRNewswire/ -- To all Shareholders NOTICE IS HEREBY GIVEN that the Annual General Meeting (the "Meeting") of CHINA YUCHAI INTERNATIONAL LIMITED (NYSE: CYD) (the "Company") will be held at Grand Copthorne Waterfront Hotel Singapore, 392 Havelock Road, Singapore 169663 on Monday, August 7, 2023 at 9.00 a.m. (Singapore time) for the following purposes: As Ordinary Business 1. To receive and adopt the audited financial statements and independent auditors' report for the financial year ended December 31, 2022. 2. To approve an increase in the limit of the Directors' fees as set out in Bye-law 10(11) of the Bye-laws of the Company from US$250,000 to US$540,000 for the financial year 2022 (Directors' fees paid for the financial year 2021 was US$538,493). 3. (a) To re-elect the following Directors retiring pursuant to Bye-law 4(2) of the Bye-laws of the Company to hold office until the next annual general meeting of the Company: (i) Mr. Kwek Leng Peck(ii) Mr. Gan Khai Choon(iii) Mr. Stephen Ho Kiam Kong(iv) Mr. Hoh Weng Ming(v) Mr. Li Hanyang(vi) Mr. Wu Qiwei(vii) Mr. Xie Tao(viii) Mr. Neo Poh Kiat (b) To elect Mr. Wong Hong Wai pursuant to Bye-law 4(2) of the Bye-laws of the Company to hold office as a Director until the next annual general meeting of the Company. (c) To note that Mr. Ho Raymond Chi-Keung will be retiring pursuant to Bye-law 4(2) of the Bye-laws of the Company and he will not be seeking re-election at this Meeting. 4. To authorize the Board of Directors to appoint up to the maximum of 11 Directors or such maximum number as determined from time to time by the shareholders in general meeting to fill any vacancies on the Board. 5. To re-appoint Ernst & Young LLP as independent auditors of the Company and to authorize the Audit Committee to fix their remuneration. As Special Business 6. To approve the following amendments to the Bye-laws of the Company: (i) to insert a new definition of "Treasury Shares" in Bye-law 1 as Bye-law 1(12A) immediately after the existing Bye-law 1(12) as follows: "(12A) "Treasury Share" means a share of the Company that was or is treated as having been acquired and held by the Company and has been held continuously by the Company since it was so acquired and has not been cancelled;" (ii) to amend the existing Bye-law 34A(2) to read as follows: "(2) Subject to the provisions of the Act and these Bye-laws, the Company may from time to time by resolution of the Board purchase its own shares for cancellation or acquire them as Treasury Shares in accordance with the Act at such prices and on such terms and conditions as the Board may determine. Notwithstanding any other provision of these Bye-laws, all the rights attaching to a Treasury Share shall be suspended and shall not be exercisable by the Company while it holds such Treasury Share and, except where required by the Act, all Treasury Shares shall be excluded from the calculation of any percentage or fraction of the share capital or shares of the Company." 7. To transact any other business as may properly come before the Meeting or any adjournment thereof. By Order of the Board Hoh Weng MingPresidentDate: July 6, 2023 Important Notes: 1. By resolution of the Board, only Members entered in the Register of Members of the Company at the close of business on June 21, 2023 (New York time) are entitled to receive notice of and to attend and vote at the Meeting. 2. A Member is entitled to appoint one or more proxies to attend the Meeting and vote in his stead. 3. A proxy need not be a Member of the Company. 4. Members are encouraged to vote in advance by internet, telephone or by mail per the instructions on the proxy form not less than 48 hours before the time appointed for the Meeting. Beneficial owners of shares held in street name will need to follow the instructions provided by the broker, bank or other nominee that holds their shares. 5. If a proxy is appointed, the proxy form and the power of attorney or other authority (if any) under which it is signed, must be lodged with the Company at 16 Raffles Quay, #26-00 Hong Leong Building, Singapore 048581, Republic of Singapore OR to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717 not less than 48 hours before the time appointed for the Meeting, that is no later than 9.00 a.m. on Saturday, August 5, 2023 Singapore time or 9.00 p.m. on Friday, August 4, 2023 New York time. 6. Pursuant to the Bye-laws of the Company, no resolution of Members may be passed without the affirmative vote of the Special Share cast by the holder of the Special Share. For more information: Investor RelationsKevin TheissTel: +1-212-510-8922Email: cyd@bluefocus.com
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