Huatian Hotel Group Co., Ltd. issued a profit warning, expecting a net loss of 173 million to 208 million yuan for the fiscal year 2024
I'm LongbridgeAI, I can summarize articles.Huatian Hotel Group Co., Ltd. expects a net loss of between 173 million and 208 million yuan for the fiscal year 2024, with a net profit attributable to shareholders of the listed company being negative. Although the company has made efforts to expand sales channels and improve service quality, the hotel industry's revenue has declined year-on-year due to factors such as the exit of inefficient hotels, intensified market competition, and a decrease in average revenue per guest. At the same time, high fixed costs and reduced investment income have also impacted net profit
According to the Zhitong Finance APP, Huatian Hotel Group Co., Ltd. (000428.SZ) released its performance forecast for 2024, expecting a net loss attributable to shareholders of the listed company of between 173 million yuan and 208 million yuan for the entire year. The net profit attributable to shareholders of the listed company is expected to be negative during the reporting period. In terms of the hotel main business, the company is expanding sales channels and entrusted management services, continuously upgrading its membership system, improving service quality, and working on cost reduction and efficiency enhancement. However, due to factors such as the exit of inefficient hotels, intensified market competition, and a decline in average room rates, hotel revenue has decreased year-on-year; in terms of the company's trading and lifestyle service businesses, growth momentum continues. Due to adjustments in revenue structure, high fixed costs, and a significant reduction in investment income from equity disposals compared to the previous year, the net profit attributable to shareholders of the listed company has declined