SHANGHAI, Aug. 15,
2024 /PRNewswire/ -- GreenTree Hospitality Group
Ltd. (NYSE: GHG) ("GreenTree", the "Company", "we", "us" and
"our"), a leading hospitality and restaurant management
group in China, today
announced that its board of directors approved the payment of a
cash dividend of US$0.10 per ordinary
share, or US$0.10 per American
Depositary Share ("ADS").
The holders of the Company's ordinary shares shown on the
Company's record at the close of trading on September 30, 2024 (U.S. Eastern Time) (the
"Record Date") will be entitled to these dividends. These
shareholders, including Deutsche Bank Trust Company Americas, the
depositary bank for the Company's ADS program (the "ADS
Depositary"), are expected to receive the payments of dividends on
or about October 16, 2024. Dividends
to the Company's ADS holders are expected to be paid through the
ADS Depositary on or about October 23,
2024, and will be subject to the terms of the deposit
agreement by and among the Company and the ADS Depositary, and the
holders and beneficial owners of ADSs issued thereunder, including
the fees and expenses payable thereunder.
The total amount of cash to be distributed for the dividends is
expected to be approximately US$10
million.
In addition, the Company will continue its planned share buyback
program. The Company is committed to sustainable profitable
growth and to deliver value to its shareholders.
About GreenTree Hospitality Group Ltd.
GreenTree Hospitality Group Ltd. ("GreenTree" or the "Company")
(NYSE: GHG) is a leading hospitality and restaurant management
group in China. As of June 30, 2024, GreenTree had a
total number of 4,272 hotels and 183 restaurants. In 2023,
HOTELS magazine ranked GreenTree 11th among the 225 largest global
hotel groups in terms of number of hotels in its annual HOTELS'
225. GreenTree was the fourth largest hospitality company in
China in 2023 according to
the China Hospitality Association. In 2023, GreenTree completed its
acquisition of Da Niang Dumplings and Bellagio, two leading
restaurant chain businesses in China.
GreenTree has a broad portfolio of diverse brands spanning from
the economy to mid-scale, up-scale and luxury segments of the
hospitality industry mainly in China. Through its strong membership base,
expansive booking network, superior system management with moderate
charges, and fully supported by its operating departments including
Decoration, Engineering, Purchasing, Operation, IT and Finance,
GreenTree aims to keep closer relationships with all of its clients
and partners by providing a diverse brand portfolio that features
comfort, style and value.
For more information on GreenTree, please
visit http://ir.998.com
Safe Harbor Statements
This press release contains forward-looking statements made
under the "safe harbor" provisions of Section 21E of the Securities
Exchange Act of 1934, as amended, and the U.S. Private Securities
Litigation Reform Act of 1995. In some cases, these
forward-looking statements can be identified by words or phrases
such as "may," "will," "expect," "anticipate," "aim," "estimate,"
"intend," "plan," "believe," "potential," "continue," "is/are
likely to," "confident," "future," or other similar expressions.
GreenTree may also make written or oral forward-looking statements
in its reports filed with or furnished to the U.S. Securities and
Exchange Commission, in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Any
statements that are not historical facts, including statements
about or based on GreenTree's current beliefs, expectations,
assumptions, estimates and projections about us and our industry,
are forward-looking statements that involve known and unknown
factors, risks and uncertainties that may cause our actual results,
performance or achievements to be materially different from those
expressed or implied by the forward-looking statements. Such
factors and risks include, but not limited to the following:
GreenTree's goals and growth strategies; its future business
development, financial condition and results of operations; trends
in the hospitality industry in China and globally; competition in our
industry; fluctuations in general economic and business conditions
in China and other regions where
we operate; the regulatory environment in which we and our
franchisees operate; and assumptions underlying or related to any
of the foregoing. You should not place undue reliance on these
forward-looking statements. Further information regarding these and
other risks, uncertainties or factors is included in the Company's
filings with the U.S. Securities and Exchange Commission. All
information provided, including the forward-looking statements
made, in this press release are current as of the date of the press
release. Except as required by law, GreenTree undertakes no
obligation to update any such information or forward-looking
statements to reflect events or circumstances after the date on
which the information is provided or statements are made, or to
reflect the occurrence of unanticipated events.
For more information, please contact:
GreenTree
Ms. Selina Yang
Phone: +86-158-2166-6251
E-mail: ir@998.com
Mr. Maple Miao
Phone: +86-181-0184-0639
E-mail: ir@998.com
Christensen
In Shanghai
Mr. Jerry Xu
Phone: +86-138-1680-0706
E-mail: jerry.xu@christensencomms.com
In Hong Kong
Ms. Karen Hui
Phone: +852-9266-4140
E-mail: karen.hui@christensencomms.com
In the US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
E-mail: linda.bergkamp@christensencomms.com
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SOURCE GreenTree Hospitality Group Ltd.