GreenTree Hospitality Group Ltd. (GHG) Income Statement
GHG 2025 at a glance
Fiscal year ended December 31, 2025 · Chinese yuanGHG revenue and net income
Where GHG's revenue goes
2025Each bar shows an amount and its share of revenue. GHG kept 15.2% of revenue as net income.
GHG profit margins
GHG growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −18.3% | +5.1% | +3.4% | +5.6% |
| Gross profit | −26.5% | +2.9% | −6.6% | +0.3% |
| Operating income | −13.2% | — | −15.1% | −6.9% |
| Net income | +51.6% | — | −8.6% | −3.4% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
GHG income statement in Chinese yuan
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.10B | CN¥1.34B | CN¥1.63B | CN¥945.1M | CN¥1.97B | CN¥930.0M | CN¥1.09B | CN¥945.0M | CN¥778.1M | CN¥647.8M |
| Cost of revenue | CN¥714.4M | CN¥822.6M | CN¥947.4M | CN¥594.0M | CN¥651.4M | CN¥392.5M | CN¥338.8M | CN¥281.0M | CN¥233.6M | CN¥240.1M |
| Gross profit | CN¥383.0M | CN¥520.9M | CN¥679.8M | CN¥351.1M | CN¥554.8M | CN¥537.5M | CN¥753.0M | CN¥664.1M | CN¥544.5M | CN¥407.7M |
| Research & development | — | — | — | — | — | — | CN¥0 | CN¥0 | CN¥0 | CN¥0 |
| Sales, general & admin | CN¥213.3M | CN¥291.9M | CN¥288.0M | CN¥736.6M | CN¥231.4M | CN¥172.6M | CN¥185.0M | CN¥95.3M | CN¥121.7M | CN¥77.9M |
| Total operating expenses | CN¥242.5M | CN¥358.9M | CN¥344.2M | CN¥788.9M | CN¥313.1M | CN¥218.2M | CN¥248.4M | CN¥129.0M | CN¥157.0M | CN¥95.4M |
| Operating income | CN¥140.5M | CN¥161.9M | CN¥335.6M | −CN¥486.5M | CN¥129.2M | CN¥319.3M | CN¥504.6M | CN¥535.0M | CN¥387.5M | CN¥312.3M |
| Interest income | CN¥37.8M | CN¥40.1M | CN¥39.5M | CN¥47.4M | CN¥60.0M | CN¥72.9M | CN¥118.8M | CN¥8.7M | CN¥84.0M | CN¥46.6M |
| Interest expense | CN¥7.6M | CN¥6.3M | CN¥14.1M | CN¥28.0M | CN¥15.3M | CN¥3.5M | CN¥2.5M | CN¥541,876 | CN¥1.4M | CN¥0 |
| Income before taxes | CN¥209.2M | CN¥196.0M | CN¥379.0M | −CN¥505.8M | CN¥195.5M | CN¥355.2M | CN¥626.1M | CN¥562.1M | CN¥472.6M | CN¥360.2M |
| Income taxes | CN¥45.9M | CN¥88.7M | CN¥118.5M | −CN¥44.1M | CN¥112.3M | CN¥110.5M | CN¥189.6M | CN¥160.2M | CN¥186.7M | CN¥83.9M |
| Net income | CN¥166.8M | CN¥110.0M | CN¥269.3M | −CN¥425.2M | CN¥88.7M | CN¥261.3M | CN¥442.7M | CN¥394.1M | CN¥285.4M | CN¥266.0M |
| EBITDA | CN¥301.7M | CN¥319.3M | CN¥511.3M | −CN¥350.8M | CN¥330.1M | CN¥385.1M | CN¥669.0M | CN¥558.3M | CN¥434.5M | CN¥347.6M |
| Gross margin | 34.9% | 38.8% | 41.8% | 37.2% | 28.2% | 57.8% | 69.0% | 70.3% | 70.0% | 62.9% |
| Operating margin | 12.8% | 12.1% | 20.6% | −51.5% | 6.6% | 34.3% | 46.2% | 56.6% | 49.8% | 48.2% |
| Net margin | 15.2% | 8.2% | 16.6% | −45.0% | 4.5% | 28.1% | 40.5% | 41.7% | 36.7% | 41.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Mar '25 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥234.4M | CN¥227.7M | CN¥214.7M | CN¥303.6M | CN¥292.5M | CN¥357.0M | CN¥329.7M | CN¥352.2M | CN¥372.2M | CN¥399.7M | CN¥415.0M | CN¥379.2M |
| Cost of revenue | CN¥146.1M | CN¥158.8M | CN¥158.5M | CN¥177.1M | CN¥185.2M | CN¥205.2M | CN¥198.3M | CN¥208.1M | CN¥211.6M | CN¥265.2M | CN¥244.9M | CN¥243.2M |
| Gross profit | CN¥88.3M | CN¥68.9M | CN¥56.1M | CN¥126.5M | CN¥107.4M | CN¥151.8M | CN¥131.4M | CN¥144.1M | CN¥160.6M | CN¥134.6M | CN¥170.1M | CN¥136.1M |
| Sales, general & admin | CN¥42.9M | CN¥32.1M | CN¥90.1M | CN¥57.1M | CN¥50.9M | CN¥42.3M | CN¥67.4M | CN¥71.9M | CN¥110.3M | CN¥112.3M | CN¥58.4M | CN¥85.4M |
| Total operating expenses | CN¥42.8M | CN¥40.3M | CN¥229.7M | CN¥56.4M | CN¥61.6M | CN¥45.4M | CN¥47.0M | CN¥71.9M | CN¥113.6M | CN¥130.9M | CN¥71.5M | CN¥83.8M |
| Operating income | CN¥45.5M | CN¥28.7M | −CN¥15.1M | CN¥70.1M | CN¥45.7M | CN¥106.4M | CN¥84.4M | CN¥72.2M | CN¥46.9M | CN¥3.7M | CN¥98.6M | CN¥52.3M |
| Interest income | CN¥8.3M | CN¥8.8M | CN¥9.4M | CN¥9.9M | CN¥10.6M | CN¥7.5M | CN¥11.0M | CN¥8.9M | CN¥10.3M | CN¥14.9M | CN¥9.8M | CN¥2.4M |
| Interest expense | CN¥1.8M | CN¥1.9M | CN¥2.1M | CN¥1.7M | CN¥1.8M | CN¥116,161 | CN¥2.6M | CN¥1.7M | CN¥916,820 | CN¥3.7M | CN¥3.9M | CN¥5.5M |
| Income before taxes | CN¥31.0M | CN¥23.7M | −CN¥93.8M | CN¥79.3M | CN¥114.5M | CN¥89.5M | CN¥89.0M | CN¥83.7M | CN¥1.4M | −CN¥30.1M | CN¥181.4M | CN¥47.7M |
| Income taxes | CN¥9.8M | CN¥9.7M | — | CN¥19.0M | CN¥15.1M | CN¥24.3M | CN¥26.7M | CN¥26.4M | CN¥35.1M | CN¥32.5M | CN¥58.0M | CN¥14.7M |
| Net income | CN¥20.7M | CN¥15.5M | −CN¥89.5M | CN¥60.8M | CN¥100.7M | CN¥65.5M | CN¥61.7M | CN¥58.9M | −CN¥30.7M | −CN¥60.4M | CN¥103.3M | CN¥36.3M |
| EBITDA | CN¥64.1M | CN¥26.8M | −CN¥81.6M | CN¥104.4M | CN¥72.1M | CN¥117.9M | CN¥121.9M | CN¥116.5M | CN¥90.0M | CN¥185.8M | CN¥134.4M | CN¥84.6M |
| Gross margin | 37.7% | 30.3% | 26.1% | 41.7% | 36.7% | 42.5% | 39.8% | 40.9% | 43.1% | 33.7% | 41.0% | 35.9% |
| Operating margin | 19.4% | 12.6% | −7.0% | 23.1% | 15.6% | 29.8% | 25.6% | 20.5% | 12.6% | 0.9% | 23.8% | 13.8% |
| Net margin | 8.8% | 6.8% | −41.7% | 20.0% | 34.4% | 18.3% | 18.7% | 16.7% | −8.3% | −15.1% | 24.9% | 9.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported in GHG's financial statements (latest annual report filed April 30, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
GHG financial results
In fiscal year 2025 (ended December 31, 2025), GreenTree Hospitality reported revenue of CN¥1.1 billion, down 18.3% from the year before. It had net income of CN¥166.8 million (up 51.6%), a net profit margin of 15.2%. Over five years revenue grew at an average rate of 3.4% a year. Figures are in Chinese yuan, the currency of its financial statements.
See the GHG stock overview for the latest quote and news, or the GHG chart for price history and technical indicators.
GHG income statement FAQ
What is GreenTree Hospitality's annual revenue?
GreenTree Hospitality reported total revenue of CN¥1.1 billion for fiscal year 2025, which ended on December 31, 2025. That was down 18.3% from CN¥1.3 billion the previous year.
Is GreenTree Hospitality profitable?
Yes. GreenTree Hospitality reported net income of CN¥166.8 million in fiscal 2025, a net profit margin of 15.2%; its operating margin was 12.8%.
What is GreenTree Hospitality's gross margin?
GreenTree Hospitality's gross margin was 34.9% in fiscal 2025: for every $100 of revenue, GreenTree Hospitality kept $35 after the direct cost of its products and services.
How fast is GreenTree Hospitality growing?
Revenue grew 3.4% a year on average over the last five fiscal years, from CN¥930.0 million to CN¥1.1 billion.
When does GreenTree Hospitality's fiscal year end?
GreenTree Hospitality's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 30, 2026.