GreenTree Hospitality Group Ltd. (NYSE:GHG) Q3 2019 Earnings Conference Call - Final Transcript

Nov 20, 2019 • 08:00 am ET


GreenTree Hospitality Group Ltd. (NYSE:GHG) Q3 2019 Earnings Conference Call - Final Transcript


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Hello and welcome to GreenTree Hospitality Group Limited Third quarter 2019 Financial Results Release Call. All participants will be in listen-only mode. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Rene Vanguestaine. Please go ahead.

Rene Vanguestaine

Thank you, Andrew. Hello, everyone, and thank you for joining us today. GreenTree's earnings release is still being processed and will be available on our IR website at soon as well as on PR Newswire services. We have posted a PowerPoint presentation on that same website that accompanies our comments today and that you can use to follow the call.

On the call today from GreenTree are Mr. Alex Xu, Chairman and Chief Executive Officer; Ms. Megan Wang, Director of IT Department; and Mr. Nicky Zheng, IR Manager. Please note that Ms. Selina Yang, Chief Financial Officer is currently on Maternity Leave. Mr. Xu will present the company's third quarter 2019 performance overview, business operations and company highlights; and Ms. Wang, on behalf of 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 U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as may, will, expect, anticipate, 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 earnings call today. As already mentioned, Ms. Selina Yang, Chief Financial Officer is currently on Maternity Leave. So you can see on Slide 3, we now have a new member in our management family, and her name is Iris, and will