.
Unaudited Reconciliation of GAAP and Non-GAAP Results
Quarter Ended
Nine Months Ended
September 30,
2017
September 30,
2018
September 30,
2018
September 30,
2017
September 30,
2018
September 30,
2018
RMB
RMB
USD
RMB
RMB
USD
Net income
111,780,032
152,378,135
22,186,682
294,976,277
339,786,505
49,473,865
Deduct:
Other operating income
9,070,947
1,865,788
271,664
14,137,923
27,933,277
4,067,163
Interest income and other, net
7,552,058
14,991,069
2,182,742
20,222,932
31,114,962
4,530,425
Gains from trading securities
13,008,183
3,091,278
450,099
48,975,568
-
-
Share of gain in equity investees, net of tax
-
141,666
20,627
-
-
-
Other income, net
-
36,723,048
5,346,978
-
36,723,048
5,346,978
Add:
Other operating expenses
140,447
99,935
14,551
1,288,613
278,527
40,554
Income tax expense
35,694,806
49,511,158
7,208,963
94,026,429
111,085,777
16,174,400
Share of loss in equity investees, net of tax
637,240
-
-
1,150,687
948,358
138,084
Interest expense
666,665
-
-
927,959
-
-
Share-based compensation
-
3,821,789
556,463
-
7,568,558
1,102,003
Depreciation and amortization
6,266,013
7,453,263
1,085,216
18,940,093
17,405,012
2,534,218
Losses from trading securities
-
-
-
-
27,945,284
4,068,911
Other expense, net
376,223
-
-
446,041
-
-
Adjusted EBITDA (Non-GAAP)
125,930,238
156,451,431
22,779,765
328,419,676
409,246,734
59,587,469
Quarter Ended
Nine Months Ended
September 30,
2017
September 30,
2018
September 30,
2018
September 30,
2017
September 30,
2018
September 30,
2018
RMB
RMB
USD
RMB
RMB
USD
Net income
111,780,032
152,378,135
22,186,682
294,976,277
339,786,505
49,473,865
Deduct:
Government subsidies (net of 25% tax)
6,172,500
1,049,804
152,854
7,665,746
11,362,580
1,654,423
Gains from trading securities (net of 25% tax)
9,756,137
2,318,459
337,574
36,731,676
-
-
Reimbursement related to the ADS program
-
-
-
-
9,271,648
1,349,978
Other income, net (net of 25% tax)
-
27,542,286
4,010,234
-
27,542,286
4,010,234
Add:
Share-based compensation
-
3,821,789
556,463
-
7,568,558
1,102,003
Losses from trading securities (net of 25% tax)
-
-
-
-
20,958,962
3,051,683
Other expense (net of 25% tax)
282,167
-
-
334,531
-
-
Core net income (Non-GAAP)
96,133,562
125,289,375
18,242,483
250,913,386
320,137,511
46,612,916
Core net income per ADS (Non-GAAP)
Class A ordinary share-basic and diluted
1.05
1.23
0.18
2.75
3.26
0.47
Class B ordinary share-basic and diluted
1.05
1.23
0.18
2.75
3.26
0.47
Operational Data
|
As of September 30, 2017 |
As of September 30,2 018 |
|
|
Total hotels in operation: |
2,119 |
2,558 |
|
Leased and owned hotels |
27 |
30 |
|
Franchised hotels |
2,092 |
2,528 |
|
Total hotel rooms in operation |
178,535 |
209,463 |
|
Leased and owned hotels |
3,396 |
3,857 |
|
Franchised hotels |
175,139 |
205,606 |
|
Number of cities |
244 |
278 |
|
Quarter Ended |
||
|
September 30, 2017 |
September 30, 2018 |
|
|
Occupancy rate (as a percentage) |
||
|
Leased and owned hotels |
76.9% |
72.6% |
|
Franchised hotels |
87.7% |
87.5% |
|
Blended |
87.4% |
87.2% |
|
Average daily room rate (in RMB) |
||
|
Leased and owned hotels |
189 |
210 |
|
Franchised hotels |
159 |
166 |
|
Blended |
160 |
167 |
|
RevPAR (in RMB) |
||
|
Leased and owned hotels |
145 |
152 |
|
Franchised hotels |
139 |
145 |
|
Blended |
140 |
146 |
|
Number of Hotels in Operation |
Number of Hotel Rooms in Operation |
|||||
|
As of September 30, 2017 |
As of September 30, 2018 |
As of September 30, 2017 |
As of September 30, 2018 |
|||
|
Economy hotels |
201 |
358 |
11,307 |
19,160 |
||
|
Vatica |
92 |
117 |
6,822 |
8,698 |
||
|
Shell |
109 |
241 |
4,485 |
10,462 |
||
|
Mid-scale |
1,878 |
2,119 |
162,490 |
181,434 |
||
|
GreenTree Inn |
1,655 |
1,824 |
144,639 |
158,174 |
||
|
GT Alliance |
223 |
294 |
17,851 |
23,199 |
||
|
Wumian Hotel[4] |
- |
1 |
- |
61 |
||
|
Business to Mid-to-up-scale |
40 |
81 |
4,738 |
8,869 |
||
|
GreenTree Eastern |
40 |
74 |
4,738 |
8,270 |
||
|
Gme |
- |
2 |
- |
170 |
||
|
Gya |
- |
1 |
- |
70 |
||
|
VX |
- |
4 |
- |
359 |
||
|
Total |
2,119 |
2,558 |
178,535 |
209,463 |
||
|
[4]. Wumian Hotel's English trademark is currently being registered. |
||||||
For more information, please contact:
GreenTree
Ms. Selina Yang
Phone: +86-21-3617-4886 ext. 7999
E-mail: ir@998.com
Mr. Nicky Zheng
Phone: +86-21-3617-4886 ext. 6708
E-mail: ir@998.com
Christensen
In Shanghai
Ms. Constance Zhang
Phone: +86-138-1645-1798
E-mail: czhang@christensenIR.com
In Hong Kong
Ms. Karen Hui
Phone: +852-9266-4140
E-mail: khui@christensenIR.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
E-mail: lbergkamp@ChristensenIR.com
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