GreenTree Hospitality Group Ltd. (NYSE:GHG) Q2 2019 Earnings Conference Call - Final Transcript

Aug 16, 2019 • 08:00 am ET


GreenTree Hospitality Group Ltd. (NYSE:GHG) Q2 2019 Earnings Conference Call - Final Transcript


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Hello ladies and gentlemen. Thank you for standing by for GreenTree's Second Quarter 2019 Earnings Conference Call. [Operator Instructions]

I would now like to turn the meeting over to your host for today's call, to Mr. Rene Vanguestaine of Christensen, the Company's Investor Relations firm. Please proceed, Rene.

Rene Vanguestaine

Thank you, Elisa. Hello, everyone, and thank you for joining us today. GreenTree's earnings release will be released in a few minutes and posted on our IR website at as well as on PR Newswire services. As a reminder, we have also posted a PowerPoint presentation on our website that accompanies our comments today, and that will help you follow our remarks. On the call today from GreenTree are Mr. Alex Xu, Chairman and Chief Executive Officer; Ms. Selina Yang, Chief Financial Officer; and Mr. Nicky Zheng, IR Manager. Mr. Xu will present the Company's second quarter 2019 performance overview, business operations and Company highlights, and Ms. Yang will then discuss financials and guidance. They will be available to answer your questions during the Q&A session that follows.

Before we begin, I'd like to remind you that this conference call contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and as defined in the US Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminologies, such as may, will, expects, anticipates, aims, future, intends, plans, believes, estimates, continue, target, is or are likely to, going forward, confident, outlook, and similar statements. Any statements that are not historical facts, including statements about the Company and its industry, are forward-looking statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known and unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements.

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 filing with the U.S. Securities and Exchange Commission. All information provided, including the forward-looking statements made during this conference call, are current as of today's date. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

It is now my pleasure to introduce our Chairman and Chief Executive Officer, Mr. Alex Xu. Mr. Xu, please go ahead.

Alex S. Xu

Thank you, Rene, and thanks, everyone for joining our earning call today. Please turn to Slide 5 if you have able to download the PPT. I'm pleased to report our 2019 Q2 result, marking our sixth consecutive quarter of solid operating and financial performance. We grow our geographic coverage to 300 cities across China by the end of June, up from the 267 cities in