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GreenTree Hospitality Group (GHG) investor relations material
GreenTree Hospitality Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Total revenues for H1 2025 declined 14.2% year-over-year to RMB585.1 million (US$81.7 million), with both hotel and restaurant segments experiencing revenue drops.
Net income rose to RMB198.8 million (US$27.7 million), up from RMB119.6 million in H1 2024, mainly due to non-operational gains.
Adjusted EBITDA (non-GAAP) fell 22.2% year-over-year to RMB149.7 million (US$20.9 million).
Core net income (non-GAAP) dropped 29.6% year-over-year to RMB92.1 million (US$12.9 million).
Financial highlights
Hotel revenues decreased 9.5% year-over-year to RMB488.0 million, impacted by an 11% blended RevPAR decline and hotel closures.
Restaurant revenues fell 31.6% year-over-year to RMB97.7 million, mainly due to store closures and lower average daily sales.
Gross profit was RMB214.7 million (US$30.0 million), down 22.1% year-over-year; gross margin declined to 36.7% from 40.4%.
Income from operations was RMB91.5 million (US$12.8 million), down from RMB156.7 million in H1 2024.
Earnings per ADS (basic and diluted) increased to RMB1.99 (US$0.28) from RMB1.19.
Outlook and guidance
Revenue guidance for the hotel business adjusted to -10% to -13% year-over-year, reflecting closures and strategic adjustments.
Board approved a cash dividend of US$0.06 per ordinary share/ADS, payable to shareholders of record as of October 31, 2025.
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