Shanghai Jin Jiang International Hotels Development Co., Ltd. 2014 Annual Report
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Shanghai Jin Jiang International Hotels Development Co., Ltd. 2014 Annual Report Stock code: 600754、900934 Stock name: JINJIANG SHARES Shanghai Jin Jiang International Hotels Development Co., Ltd. 2014 Annual Report Important Notice (I) The Board of Directors and Board of Supervisors of the Company and all its members and senior management ensure that the information contained in this Report are free from any false statement, misrepresentation or significant omission and will bear the joint and several liabilities for the truth, accuracy and completeness of the contents of the Report. (II) The 36th Meeting of the 7th Session of Board of Directors of the Company approved the annual report on 26 March, 2015. All directors attended the board meeting. (III) The financial statements for the year ended 31 December 2014 prepared in accordance with Accounting Standards for Business Enterprises are audited by Deloitte Touche Tohmatsu CPA LLP. and issued an auditor’s report with unqualified opinion for these financial statements (De Shi Bao Shen Zi (15) No. P0386). (IV) Mr. Yu Minliang, Chairman of Board and legal representative of the Company, Mr. Lu Zhenggang, Chief Executive Officer (“CEO”) and person in charge of accounting function of the Company, Ms. Wu Lin person in charge of accounting department, declare to guarantee the authenticity, accuracy and integrity of the financial statements in this Annual Report. (V) The plan of profit distribution and surplus converted to share capital during the reporting period discussed by the board as follows. The Company plans to distribute a cash dividend of RMB4.00 (tax included) to every 10 shares held by all shareholders on the basis of 804,517,740 shares in total at the end of 2014; Dividend of B shares will be paid in US dollars, converted by the middle market exchange rate of PBOC in the next working day after the distribution proposal 1 Shanghai Jin Jiang International Hotels Development Co., Ltd. 2014 Annual Report is approved in the general meeting. The company had no plan of capital surplus converted to share capital 2014. The plan of distribution of profit hadn't been delivered to the shareholders' meeting for approval. (VI) The prospective description such as plans and development strategy in the annual report shouldn't be considered as the commitment to the investors. Please pay attention to the investment risk. (VII) The Company has no non-operating funds occupied by holding shareholder and its related parties. (VIII) The Company has no guarantees provided violating the stipulated decision-making process. (IX) The Annual Report is published in Chinese and English respectively. Should there be any inconsistency between the Chinese and English versions, the Chinese version shall prevail. 2 Shanghai Jin Jiang International Hotels Development Co., Ltd. 2014 Annual Report Contents I. Definition and important Notice ……………………………………………… 4 II. Basic Information of the Company……………………………………………… 7 III. Financial Highlights ….…………………………………………………………10 IV. Report of the Board of Directors ……………………………………………… 12 V. Significant Events …………………………………………………………….. 48 VI. Changes of Share Capital and Particulars of Shareholders …………………… 57 VII. Directors, Supervisors, Senior Management and staff …………………...…… 64 VIII. Governance Structure of the Company ……………………………………….. 72 IX. Internal Control ……………………………………………………………….. 78 X. Financial Reports ………………………………………………………………. 79 XI. Document for reference………………………………………………………… 80 3 Shanghai Jin Jiang International Hotels Development Co., Ltd. 2014 Annual Report I. Definition and important Notice ①. Definition In this report,the words below had the meanings as following except for other requirements. Commonly used words Company/ the company/ Jin Shanghai Jin Jiang International Hotels Development as Jiang Hotels Co., Ltd. Shanghai Jin Jiang International Hotels(Group)Co., Jin Jiang Hotels Group as Ltd.,the holding company of the Jin Jiang hotels Jin Jiang International (Holdings) Co., Ltd.,the ultimate Jin Jiang International as holding company of Jin Jiang Hotels and Jin Jiang Hotels Group Shanghai Jin Jiang Metropolo Hotels Management Co., Jin Jiang Metropolo as Ltd. Jin Jiang Inn as Jin Jiang Inn Co., Ltd. Shanghai Jin Jiang International Hotels Investment Co., as Hotels Investment Ltd. Goldmet Inn as Shanxi Goldmet Inn Management Co., Ltd. Smartel as Smartel Management Co., Ltd. Da Hua Hotel as Shanghai Jin Jiang Da Hua Hotel Co., Ltd. Minhang Hotel as Shanghai Minhang Hotel Co., Ltd. Jin Pan Hotel as Shanghai Jin Pan Hotel Co., Ltd Shanghai Jin Jiang International Hotels Development East Asia Hotel as Co., Ltd. East Asia Hotel Shanghai Jin Jiang International Hotels Development Nan Jing Hotel as Co., Ltd.Nan Jing Hotel Shanghai Jin Jiang International Hotels (Group) Co., Ltd. as Metropole Hotel Metropole Hotel Shanghai Jin Jiang International Hotels (Group) Co., Ltd. as New Asia Hotel New Asia Hotel Shanghai Jin Jiang International Hotels (Group) Co., Ltd. as Huating Guest House Huating Guest House Shanghai Jin Jiang International Hotels (Group) Co., Ltd. as Jinshajiang Hotel Jinshajiang Hotel Shanghai Jin Jiang International Hotels (Group) Co., Ltd. as BaiYulan Hotel BaiYulan Hotel Shanghai Jin Jiang International Hotels (Group) Co., Ltd. as Qing Nianhui Hotel Qing Nianhui Hotel Shanghai Jin Jiang International Catering Investment Co., as Catering Investment Ltd. New Asia Food as Shanghai New Asia Food Co., Ltd. Shanghai Jinjiang International Food & Catering Jinjiang Food as Management Co.,Ltd. Jinzhu Catering as Shanghai Jinzhu Catering Management Co.,Ltd. 4 Shanghai Jin Jiang International Hotels Development Co., Ltd. 2014 Annual Report Shanghai Jinya Catering Management Co.,Ltd.(Name Jinya Catering as before changed is Shanghai New Asia Café de Coral Co.,Ltd.) Jin Jiang Tung Lok as Shanghai Jin Jiang Tung Lok Catering Management Inc. Shanghai Yoshinoya as Shanghai Yoshinoya Co.,Ltd. Shanghai KFC as Shanghai Kentucky Fried Chicken Co., Ltd. New Asia Fulihua as Shanghai New Asia Fulihua Catering Co., Ltd. HangzhouKFC as Hangzhou Kentucky Fried Chicken Co., Ltd. Wuxi KFC as Wuxi Kentucky Fried Chicken Co., Ltd. Suzhou KFC as Suzhou Kentucky Fried Chicken Co., Ltd. Jing An Bakery as Shanghai Jing An Bakery Co., Ltd. Jin Jiang Finance as Jin Jiang International Finance Co., Ltd. Changjiang Securities as Changjiang Securities Co., Ltd. Shenyin & Wanguo as Shenyin & Wanguo Securities Co., Ltd Shenwan Hongyuan as Shenwan Hongyuan Group Co., Ltd. Hony capital Hony Capital (Shanghai) Co., Ltd. CSRC as China Securities Regulatory Commission SSE as Shanghai Stock Exchange SEHK as The Stock Exchange of Hong Kong Ltd. Shanghai State-Owned Assets Supervision and SHSAC as Administration Commission of Shanghai Municipal Government Company law as The Company Law of The People's Republic of China Securities law as The Securities Law of The People's Republic of China The average daily revenue from per available room, RevPAR as Average room revenues=average daily room rate× average occupancy rate Earnings Before Interest, Taxes, Depreciation and EBITDA as Amortization Articles of Shanghai Jin Jiang International Hotels Articles of the company as Development Co., Ltd. Reporting period, This year, The end of reporting period, as 01/01/2014-12/31/2014, 12/31/2014 this year, The end of this year Last reporting period, last year, The end of last as 01/01/2013-12/31/2013, 12/31/2013 reporting period, The end of last year Yuan, '0000Yuan as RMB Yuan、RMB‘0000Yuan 5 Shanghai Jin Jiang International Hotels Development Co., Ltd. 2014 Annual Report ② Important Notice The company has described the potential risks in the report in details. Please refer to the text of discussion and analysis of the board of directors on the risks that the company would face in the development in chapter four. 6 Shanghai Jin Jiang International Hotels Development Co., Ltd. 2014 Annual Report II. Basic Information of the Company 1. Information of the Company Chinese legal name 上海锦江国际酒店发展股份有限公司 Abbreviation for Chinese legal name 锦江股份 Shanghai Jin Jiang International Hotels Development English name Co., Ltd. Abbreviation for English name JINJIANG SHARES Legal representative Yu Minliang 2. Contact person and contacts Secretary to the Company's Board Securities Deputy of Directors Name Hu Min Zhang Jue Contact address 25th Floor, No.100 Yan'an Road 25th Floor, No.100 Yan'an Road East, East, Shanghai Shanghai Telephone: 86-21-63217132 86-21-63217132 Fax: 86-21-63217720 86-21-63217720 E-mail: [email protected] [email protected] 3. Basic Introduction 4th Floor, No.889, South Yang Gao Road, Pu Dong New Registered address District, Shanghai, People's Republic of China (District B) Zip code of the registered address 200127 Business address 25th Floor, No.100 Yan'an Road East, Shanghai Zip code of business address 200002 Internet website address http://www.jinjianghotels.sh.cn E-mail [email protected] 4. Information disclosure and venue for preparation and storage Name of newspapers for information disclosure Shanghai Securities News, Ta Kung Pao Internet website address designated by the CSRC http://www.sse.com.cn for the publication of the annual report Venue for annual report preparation and storage Secretarial Office to the Company's Board of directors 7 Shanghai Jin Jiang International Hotels Development Co., Ltd. 2014 Annual Report 5. Brief of the stock Stock exchange for listing of the Company's Abbreviation Stock Type Stock Exchange Abbreviation Stock code before changed A share