Ястребиный глаз предупреждает: Доходы от деятельности отеля Jinjiang снизились

Investigation Institute of Listed Companies by Sina Finance | Financial Report Hawk-Eye Early Warning

On March 27, Jinjiang Hotels released its 2025 annual report.

The report shows that the company’s operating revenue for the full year 2025 was 13.811 billion yuan, a year-on-year decrease of 1.79%; attributable net profit to shareholders was 925 million yuan, a year-on-year increase of 1.58%; profit after deducting non-recurring items attributable to shareholders was 945 million yuan, a year-on-year increase of 75.19%; and basic earnings per share were 0.87 yuan/share.

Since the company’s listing in October 1996, it has carried out cash dividends 28 times, with cumulative implemented cash dividends totaling 6.356 billion yuan.

The listed companies’ financial report hawk-eye early warning system conducts intelligent quantitative analysis of Jinjiang Hotels’ 2025 annual report across four major dimensions: performance quality, profitability, funding pressure and safety, and operating efficiency, among others.

I. Performance Quality

During the reporting period, the company’s revenue was 13.811 billion yuan, a year-on-year decrease of 1.79%; net profit was 989 million yuan, a year-on-year decrease of 13.54%; and net cash flow from operating activities was 3.301 billion yuan, a year-on-year decrease of 7.31%.

From an overall performance perspective, it is necessary to focus on:

• Operating revenue declined. During the reporting period, operating revenue was 13.81 billion yuan, down 1.79% year-on-year.

In light of cash flow quality, it is necessary to focus on:

• Net cash flow from operating activities continued to decline. In the last three annual reports, the net cash flow from operating activities was 5.16 billion yuan, 3.56 billion yuan, and 3.3 billion yuan respectively, showing a continuous decline.

II. Profitability

During the reporting period, the company’s gross margin was 38.38%, down 2.9% year-on-year; net profit margin was 7.16%, down 11.96% year-on-year; and return on equity (weighted) was 5.89%, up 8.47% year-on-year.

In light of the company’s operations-driven returns, it is necessary to focus on:

• Gross margin on sales continued to decline. In the last three annual reports, gross margin on sales was 41.99%, 39.52%, and 38.38% respectively, and the downward trend continued.

• Sales net profit margin continued to decline. In the last three annual reports, sales net profit margin was 8.72%, 8.14%, and 7.16% respectively, and the downward trend continued.

In light of returns from the company’s asset side, it is necessary to focus on:

• The average return on net assets over the recent three years is below 7%. During the reporting period, the weighted average return on net assets was 5.89%; over the most recent three fiscal years, the weighted average return on net assets was on average below 7%.

• Return on invested capital is below 7%. During the reporting period, the company’s return on invested capital was 3.56%, and the average for the three reporting periods was below 7%.

From non-recurring profit and loss, it is necessary to focus on:

• Non-recurring gains account for a relatively high proportion. During the reporting period, the ratio of non-recurring gains to net profit was 32.4%. (Note: Non-recurring gains = net investment gains + net fair value change gains + non-operating income + losses from disposal of non-current assets).

• Cash inflows from disposal of equity or assets are relatively large. During the reporting period, the ratio of net cash inflow from disposing of subsidiary equity or real estate, etc., to net profit was 77.4%.

III. Funding Pressure and Safety

During the reporting period, the company’s asset-liability ratio was 64.55%, down 2.19% year-on-year; the current ratio was 1, and the quick ratio was 0.99; total debt was 14.131 billion yuan, of which short-term debt was 4.848 billion yuan, and short-term debt as a proportion of total debt was 34.31%.

From the perspective of long-term funding pressure, it is necessary to focus on:

• Broad monetary funds can cover short-term debt, but long-term debt cannot be covered. During the reporting period, the ratio of broad monetary funds to total debt was 0.46, and broad monetary funds were lower than total debt.

• The cash coverage ratio of total debt is gradually decreasing. In the last three annual reports, the ratio of broad monetary funds to total debt was 0.69, 0.47, and 0.46 respectively, showing a continuous decline.

From the perspective of cash management and control, it is necessary to focus on:

• The ratio of interest income to monetary funds is less than 1.5%. During the reporting period, monetary funds were 8.51 billion yuan, short-term debt was 4.85 billion yuan, and the average ratio of interest income to monetary funds was 1.113%, lower than 1.5%.

• The ratio of total debt to total liabilities is greater than 20%, and the ratio of interest expense to net profit is greater than 30%. During the reporting period, the ratio of total debt to total liabilities was 69.56%; the ratio of interest expense to net profit was 37.9%, meaning interest expense has a greater impact on the company’s operating performance.

• The ratio of prepayments / current assets continues to grow. In the last three annual reports, the ratio of prepayments to current assets was 1.16%, 1.64%, and 2.2% respectively, showing continuous growth.

• The growth rate of prepayments is higher than the growth rate of operating costs. During the reporting period, prepayments increased by 28.21% compared with the beginning of the period; operating costs grew by 0.07% year-on-year; and the growth rate of prepayments was higher than that of operating costs.

IV. Operating Efficiency

During the reporting period, the accounts receivable turnover ratio was 9.82, up 8.7% year-on-year; the inventory turnover ratio was 182.51, up 23.83% year-on-year; and total asset turnover ratio was 0.3, up 3.2% year-on-year.

For long-term assets, it is necessary to focus on:

• Significant changes in other non-current assets. During the reporting period, other non-current assets were 320 million yuan, up 95.22% compared with the beginning of the period.

Click Jinjiang Hotels Hawk-Eye Early Warning to view the latest details of alerts and a visual preview of financial reports.

Introduction to Sina Finance’s listed-company financial report hawk-eye early warning: The listed-company financial report hawk-eye early warning is a professional intelligent analysis system for listed-company financial reports. The hawk-eye early warning system gathers a large number of authoritative financial experts, such as accounting firms and listed companies, to track and interpret the latest financial reports of listed companies from multiple dimensions, including company performance growth, earnings quality, funding pressure and safety, and operating efficiency. It also uses text and images to highlight potential financial risk points. It provides technology solutions for professional, efficient, and convenient identification and early warning of financial risks for financial institutions, listed companies, regulatory authorities, and more.

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Editor-in-charge: Xiao Lang Express News