万达酒店发展二零二五年中期报告

Corporate Information公司資料2Business Review業務回顧4Financial Review財務回顧17Other Information其他資料31Report on Review of Interim CondensedConsolidated Financial Information中期簡明綜合財務資料審閱報告42Interim Condensed Consolidated Statementof Profit or Loss中期簡明綜合損益表44Interim Condensed Consolidated Statementof Comprehensive Income中期簡明綜合全面收入表45Interim Condensed Consolidated Statementof Financial Position中期簡明綜合財務狀況表46Interim Condensed Consolidated Statementof Changes in Equity中期簡明綜合股權變動表48Interim Condensed Consolidated Statementof Cash Flows中期簡明綜合現金流量表50Notes to Interim Condensed ConsolidatedFinancial Information中期簡明綜合財務資料附註54 Corporate Information公司資料 董事會 BOARD OF DIRECTORS 執行董事寧奇峰先生（主席）劉英武先生 Executive DirectorsMr. Ning Qifeng(Chairman)Mr. Liu Yingwu 非執行董事 Non-executive Directors 韓旭先生張春遠先生（自二零二五年一月一日起獲委任）張霖先生（自二零二五年一月一日起辭任） Mr. Han XuMr. Zhang Chunyuan(appointed with effect from 1 January 2025)Mr. Zhang Lin(resigned with effect from 1 January 2025) 獨立非執行董事 Independent Non-executive Directors 陳艷博士何志平先生滕斌聖博士 Dr. Chen YanMr. He ZhipingDr. Teng Bing Sheng 審核委員會 AUDIT COMMITTEE 陳艷博士（主席）何志平先生滕斌聖博士 Dr. Chen Yan(Chairperson)Mr. He ZhipingDr. Teng Bing Sheng 薪酬委員會 REMUNERATION COMMITTEE 滕斌聖博士（主席）陳艷博士何志平先生 Dr. Teng Bing Sheng(Chairperson)Dr. Chen YanMr. He Zhiping 提名委員會 NOMINATION COMMITTEE 寧奇峰先生（主席）陳艷博士滕斌聖博士 Mr. Ning Qifeng(Chairperson)Dr. Chen YanDr. Teng Bing Sheng COMPANY SECRETARY 公司秘書 Ms. Hui Wai Man, Shirley 許惠敏女士 Corporate Information(Continued)公司資料（續） 主要往來銀行 PRINCIPAL BANKERS 中國銀行中國工商銀行廣發銀行香港上海滙豐銀行有限公司 Bank of ChinaIndustrial and Commercial Bank of ChinaChina Guangfa BankThe Hong Kong and Shanghai BankingCorporation Limited 核數師 AUDITORS 安永會計師事務所執業會計師註冊公眾利益實體核數師香港鰂魚涌英皇道979號太古坊一座27樓 Ernst & YoungCertified Public AccountantsRegistered Public Interest Entity Auditor27/F, One Taikoo Place979 King’s RoadQuarry Bay, Hong Kong 註冊辦事處 REGISTERED OFFICE Victoria Place5th Floor31 Victoria StreetHamilton HM10Bermuda Victoria Place5th Floor31 Victoria StreetHamilton HM10Bermuda 香港主要辦事處 PRINCIPAL OFFICE IN HONG KONG 香港康樂廣場1號怡和大廈34樓3412-3413室 Suites 3412-341334th FloorJardine House1 Connaught PlaceHong Kong COMPANY’S WEBSITE www.wanda-hotel.com.hk 主要股份登記及過戶處 PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE Appleby Global Corporate Services(Bermuda) LimitedCanon’s Court, 22 Victoria StreetPO Box HM 1179, Hamilton HM EXBermuda Appleby Global Corporate Services(Bermuda) LimitedCanon’s Court, 22 Victoria StreetPO Box HM 1179, Hamilton HM EXBermuda 香港股份登記及過戶分處 HONG KONG BRANCH SHARE REGISTRARAND TRANSFER OFFICE 卓佳證券登記有限公司香港夏慤道16號遠東金融中心17樓股票代號169 TRICOR INVESTOR SERVICES LIMITED17/F, Far East Finance Centre16 Harcourt RoadHong KongSTOCK CODE169 Management Discussion and Analysis管理層討論及分析 業務回顧 BUSINESS REVIEW 截 至 二 零 二 五 年 六 月 三 十 日 止 六 個 月（「本 期 間」），萬 達 酒 店 發 展 有 限 公 司（「本公司」）及其附屬公司（「本集團」）的主要業務由以下四個分部組成：－ Duringthe six months ended 30 June 2025(the“Period”),the principal businesses of Wanda HotelDevelopment Company Limited (the “Company”) and itssubsidiaries (the “Group”) are divided into the followingfour business segments:– Hotel business1.Hotel operation andmanagement services2.Hotel design and constructionmanagement servicesProperty business3.Investment property leasing4.Trading and leasing ofoverseas properties 酒店業務 HOTEL BUSINESS 於本期間，本集團的酒店業務由萬達酒店管理（香港）有限公司（「萬達酒管」，及其附屬公司合稱「萬達酒管集團」）經營。萬 達 酒 管 集 團 為 中 華 人 民 共 和 國（「中國」）領先的酒店服務供應商，主要從事酒店管理和運營業務、酒店設計、酒店建設管理及相關諮詢以及其他輔助業務，具有全面的酒店管理和運營能力。 During the Period, the Group’s hotel businesses wereoperatedby Wanda Hotel Management(Hong Kong)Co.,Ltd.(“Wanda Hotel Management”together withitssubsidiaries“Wanda Hotel Management Group”).WandaHotel Management Group is a leading hotelservices provider in the People’s Republic of China (the“PRC”) and is principally engaged in the business ofhotelmanagement and operation,hotel design,hotelconstruction management and related consultancy andother ancillary business, with comprehensive capabilitiesin hotel management and operation. 酒店營運與管理服務 Hotel Operation and Management Services 於本期間，由本集團管理的酒店以三種模式運營，分別為： During the Period, the hotels managed by the Group wereoperated under three models, namely: 1.租賃與經營酒店；2.管理酒店；及3.特許經營酒店。 1.Leased-and-operated hotels;2.Managed hotels; and3.Franchised hotels. 本集團將由本集團管理的酒店網絡由截至二零二四年十二月三十一日的204家酒店，超過40,200間客房，擴張至截至二零 二 五 年 六 月 三 十 日 的222家 酒 店，超過42,500間客房。截至二零二五年六月三十日，本集團另有406家已簽約管理但仍在開發中尚未開業的酒店。 The Group expanded the hotel network under the Group’smanagement from 204 hotels with over 40,200 roomsas of 31 December 2024 to 222 hotels with over 42,500rooms as of 30 June 2025. As of 30 June 2025, anadditional 406 hotels were contracted to be managed bythe Group but were still under development and have notcommenced operation yet. Management Discussion and Analysis(Continued)管理層討論及分析（續） 我們的酒店品牌 Our hotel brands 本集團採用多品牌策略以瞄準具有獨特喜好與需求的不同客戶群體。以下列示本集團目前管理的主要酒店品牌（以類別劃分）： TheGroup adopts a multi-brand strategy which isdesigned to target segments of customers with distinctivepre