Deutsche Bank Markets Research Asia Industry Date China 20 February 2017 Consumer China Hotels: Hotels / Leisure / Industry Update Gaming Tallan Zhou Karen Tang Research Analyst Research Analyst Expert call alert: Operational update (+852 ) 2203 6464 (+852 ) 2203 6141 on China budget hotel [email protected] [email protected] Industry specialist conference call on China budget hotel’s market share and Focus stocks operations; Friday Mar 3, 3:00pm HKT China Lodging (HTHT.OQ),USD55.98 Buy Price We will host a conference call with a specialist in economy hotels in China, Mr. Target USD60.00 Shengyang Hu (Chief Executive Officer, Shanghai Inntie Hotel Management). Jinjiang International Hote (2006.HK),HKD2.24 Inntie is the top 1 consulting brand of budget hotel in China. Buy Price Target HKD3.70 Jinjiang Hotels Development When: Friday Mar 3, 3:00pm HKT (7:00am GMT/ 2:00am ET) (600754.SS),CNY30.18 Hold Price Target CNY36.00 Speaker Biography Source: Deutsche Bank Shengyang Hu, Chief Executive Officer, Shanghai Inntie Hotel Management In this position, he is responsible for budget hotel industry research, hotel management and training, consulting for hotel M&A. He regularly conducts research on top 10 budget hotels in China such as HOME INN, 7 days, HanTing Inns & Hotels, JINJIANG INN, SUPER 8 HOTEL, MOTEL 168, Green Tree Inn, ibis HOTEL, Pudding and etc. He liaises directly with CEOs or senior management of the top 10 budget hotels in China. He has extensive knowledge on general industry trends, competitive landscape, pricing strategy, hotel operation and branding of China budget hotels. He has been in this industry since 2005. He is located in Shanghai, China. Dial- in detials China: 8008700210/4001203170 HK: 800906648/+852 30512792 Singapore: 8006162313/+65 31580667 UK: 08082341369/+44 2036514876 US: 18007429301/+18455071610 Moderator: Tallan Zhou Conference ID: 75513524 ________________________________________________________________________________________________________________ Deutsche Bank AG/Hong Kong Distributed on: 20/02/2017 03:21:29 GMT The views expressed above accurately reflect the personal views of the authors about the subject companies and its(their) securities. The authors have not and will not receive any compensation for providing a specific recommendation or view. Deutsche Bank does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. Prices are current as of the end of the previous trading session unless otherwise indicated and are sourced from local exchanges via Reuters, Bloomberg and other vendors. FOR OTHER IMPORTANT DISCLOSURES PLEASE VISIT http://gm.db.com/ger/disclosure/DisclosureDirectory.eqsr; MCI (P) 057/04/2016. .