On the evening of August 28th, Jinjiang Hotel (600754. SH) released its 2026 semi annual report. According to financial report data, the company achieved a revenue of 6.801 billion yuan in the first half of the year, a year-on-year increase of 4.21%; The net profit attributable to the parent company was 545 million yuan, a year-on-year increase of 47.05%; After deducting non recurring expenses, the net profit was 593 million yuan, a year-on-year increase of 45.16%. The second quarter continues the steady growth trend of the first quarter, and the profitability quality has achieved structural improvement. The cash flow from operating activities increased by 57.95% year-on-year, while financial expenses decreased by 16.36% year-on-year. The company's financial structure continues to optimize, and its endogenous hematopoietic capacity has increased.

Direct sales repair combined with stock revitalization, continuous release of endogenous power in the main business

During the reporting period, the net profit attributable to the parent company of limited service hotels in Jinjiang increased by 25.22% year-on-year, RevPAR increased by 0.46% year-on-year, and OCC increased by 0.76 percentage points year-on-year. Under the pressure of industry housing prices, the company relied on occupancy rate repair to achieve positive growth in single room revenue, and its operational resilience was verified; The proportion of new signings for mid-range and above brands has increased to 75%, and the signing structure continues to be optimized. Domestic full-service hotels achieved a year-on-year increase of 27.70% in net profit attributable to the parent company, and multiple key brands such as Jinjiang International Hotel, Lishun, and Lijun continued to land, further enhancing the coverage of segmented markets.

In terms of directly operated stores, the company continues to strengthen its penetrating management and control of limited service hotels in China. Through measures such as optimizing store structure and deepening cost control, it has promoted the improvement of business fundamentals. RevPAR increased by 10.7% year-on-year, OCC increased by 7.2 percentage points year-on-year, and the quality of operation has steadily improved; The RevPAR of direct operated stores of overseas limited service hotels also increased by 7.26% compared to the same period last year.

In the first half of the year, more than 40 limited service hotels overseas completed renovations and renovations, resulting in a comprehensive improvement in quality. During the period of 2023-2025, its directly operated stores that have completed renovation and renovation will see a 9% increase in RevPAR and a 7-point increase in RGI to 105 compared to before the renovation. The strategic logic of driving endogenous growth through stock improvement will continue to be implemented.

Continuous implementation of platform capabilities, multi-dimensional empowerment of members and GPP

The membership system is the core cornerstone of the company's direct sales customer base. In the first half of the year, the central booking rate for limited service hotels in China was 74.6%, an increase of 11.8 percentage points compared to 2025; Direct sales accounted for 36.7%, a year-on-year increase of 33.9%; The membership contribution rate is 75.57%, an increase of 13% year-on-year; The number of monthly active users on the membership platform increased by 24% year-on-year. The business travel industry also maintained a high growth trend, with a year-on-year increase of 31.5% in business travel GMV and a year-on-year increase of 26% in GMV for millions of customers in the first half of the year. The high stickiness membership system, combined with the increase in business travel, and the continuous enhancement of central booking capabilities, together form a stable and efficient customer source structure.

The GPP global procurement platform is accelerating the upgrading and transformation of overseas supply chains from "Made in China" to "Chinese supply chains". At present, GPP services have covered 75 countries, with a GMV of 5.51 billion yuan in the domestic market in the first half of the year, a year-on-year increase of 11%. It has helped domestic franchisees save nearly 100 million yuan in procurement costs.

The company continues to improve its ESG governance and comprehensively enhances its ESG management level through systematic measures. In July, the company's Wind ESG rating jumped from A to AA, setting a historical record with a comprehensive score ranking among the top three in the industry, fully demonstrating the market's recognition of its ESG governance capabilities and long-term value.

Guangfa Securities, Guojin Securities and other institutions have stated that Jinjiang Hotels, as a leading domestic chain hotel, is deepening its quality improvement and reform efforts, with solid endogenous growth momentum. With continuous optimization of domestic and international operations and improvement of capital structure, the trend of profit release is expected to continue.