Huazhus response to the imminent re listing in Hong Kong: no comment on speculation in the market

category:Finance
 Huazhus response to the imminent re listing in Hong Kong: no comment on speculation in the market


As a matter of fact, in June this year, the news about the second listing of Huazhu group in Hong Kong has risen. This rumor took place against the background of secondary listing in Hong Kong.

As a leading hotel group in China, Huazhu group was listed on NASDAQ in 2010. Since the listing, the market value of Huazhu group has been rising. As of August 9, the total market value of Huazhu group was about 10.5 billion US dollars, about 73.2 billion yuan.

Affected by the epidemic situation, Huazhu groups performance in the first half of this year is under pressure. To this end, Huazhu group reiterated to cultivate the domestic market and accelerate its penetration into the third and fourth tier markets. Jin Hui, President of Huazhu group and CEO of Huazhu China, had previously accepted the reporter of 21st century economic report that in order to achieve the goal of deeply ploughing China, after the epidemic situation has entered into the normal prevention and control, we have put forward the idea of catching Chinas third and fourth tier cities and further organizing sinking to meet the needs of a large number of county-level cities in China. Our goal is to open Huazhus stores in every county. If the secondary listing of Hong Kong stock can be realized, Huazhu group is expected to obtain a large amount of financing. According to the financial report, as of the first quarter of this year, the balance of cash and cash equivalents of Huazhu group at the end of the period was about 3.5 billion yuan. After the smooth financing, the group is expected to obtain sufficient funds for the sinking expansion of the market. Source: Yang Bin, editor in charge of economic report in the 21st century_ NF4368

If the secondary listing of Hong Kong stock can be realized, Huazhu group is expected to obtain a large amount of financing. According to the financial report, as of the first quarter of this year, the balance of cash and cash equivalents of Huazhu group at the end of the period was about 3.5 billion yuan. After the smooth financing, the group is expected to obtain sufficient funds for the sinking expansion of the market.