On the evening of June 4th, China Hotel Group Jin Jiang Hotels announced its plan to issue shares (H-shares) overseas and list on the Hong Kong Stock Exchange. The company stated that the funds raised from this listing will be used to strengthen and expand its overseas business, repay bank loans, and replenish working capital.
In recent years, Jin Jiang Hotelss has seen a decline in both revenue and profit. According to its 2024 annual report, the company achieved revenue of CNY 14.06 billion , a 4% decrease year-on-year; net profit attributable to the parent company was CNY 911 million, down 9.06%; and the gross margin stood at 39.52%, a drop of 2.47%. In terms of overseas business, Jin Jiang's international revenue in 2024 reached CNY 4.26 billion, a decrease of 0.9%, with overseas revenue from mainland China accounting for 30.80% of total hotel business revenue.
Source: 2024 Annual Report of Shanghai Jin Jiang International Hotels Co., Ltd.
In Q1 of this year, the company’s operating performance continued to decline, with revenue falling by 8.25% year-on-year to CNY 2.94 billion, and net profit attributable to the parent company dropping by 81.03% to CNY 36.01 million. Faced with the ongoing decline in performance, Jin Jiang Hotels is actively seeking opportunities for overseas growth.
Jin Jiang Hotels began its international expansion early, with a current focus on Southeast Asia. In 2011, the company partnered with Oishi to explore the Southeast Asian market. By the end of 2024, Jin Jiang Hotels (China) announced a partnership with Malaysian hotel management group RIYAZ to expand five brands into the Southeast Asian market. In May 2025, the first Jinjiang Metropolo Hotels in Laos was signed in Luang Prabang, marking a significant milestone. The development of Southeast Asia's tourism industry over the next three years is expected to bring a notable peak in hotel traffic. This Hong Kong IPO will provide strong support for Jin Jiang Hotels's overseas strategy and business implementation.
Beyond Southeast Asia, Jin Jiang Hotels's French subsidiary, Louvre Hotels Group, continues to report losses. In 2024, Louvre posted a net loss of EUR 10.79 million. The group had losses of EUR 51.66 million in 2021, EUR 23.14 million in 2022, and EUR 34.68 million in 2023. Although the financial situation has improved, it remains an overall loss. The planned H-share issuance will help accelerate the iteration and upgrading of Louvre's products, reduce its debt ratio, and optimize its capital structure.
Jin Jiang Hotels, officially known as Shanghai Jin Jiang International Hotels Co., Ltd., is one of China's leading publicly listed companies in the hotel and catering industry, with core businesses including Full Service Hotels, Limited Service Hotels, and Food&Catering services.