GreenTree Hospitality Group Ltd. (GHG)

GHG Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash & Equivalents	1,639	1,490	765.55	699.24	298.43	611.36
Short-Term Investments	0.03	13.42	459.85	244.17	726.62	544.36
Cash & Short-Term Investments	1,639	1,504	1,225	943.41	1,025	1,156
Cash Growth	6.70%	22.71%	29.89%	-7.96%	-11.31%	19.87%
Accounts Receivable	126.85	113.45	138.1	149.21	104.4	110.66
Other Receivables	-	59.3	72.02	456.07	409.95	0.62
Receivables	173.06	258.22	339.64	786.94	761.88	333.53
Inventory	6.77	6.88	20.46	21.92	2.3	3.8
Prepaid Expenses	-	-	-	-	15.45	13.6
Restricted Cash	14.73	16.1	6.58	7.94	3.3	-
Other Current Assets	107.57	50.27	34.68	54.37	23.23	77.65
Total Current Assets	1,941	1,835	1,627	1,815	1,831	1,584
Property, Plant & Equipment	1,921	1,978	2,350	2,558	1,045	668.61
Long-Term Investments	494.11	184.02	184.76	176.85	218.79	859.53
Goodwill	96.07	96.07	177.08	177.08	120.82	100.23
Other Intangible Assets	74	75.68	117.72	159.69	520.12	491.51
Long-Term Deferred Tax Assets	241.43	245.76	241.97	232	161.57	156.07
Other Long-Term Assets	402.05	516.99	297.54	386.54	478.24	89.01
Total Assets	5,183	4,947	5,067	5,684	4,667	4,095
Accounts Payable	49.49	60.63	76.78	125.25	26.96	20.81
Accrued Expenses	610.28	236.78	228.06	230.86	206.97	152.85
Short-Term Debt	-	-	116.8	156.3	356	150
Current Portion of Long-Term Debt	0.4	0.4	0.2	141.8	50.2	-
Current Portion of Leases	217.02	241.36	267.54	272.7	-	-
Current Income Taxes Payable	91.41	88.88	112.78	79.92	70.9	87.48
Current Unearned Revenue	197.2	200.73	208.67	218.96	254.92	255.62
Other Current Liabilities	18.34	336.69	330.77	318.29	284	202.76
Total Current Liabilities	1,184	1,165	1,342	1,544	1,250	869.53
Long-Term Debt	256	256.2	56.8	160	301.8	-
Long-Term Leases	1,229	1,216	1,392	1,516	-	-
Long-Term Unearned Revenue	147.19	176.35	207.91	234.37	314.47	361.9
Long-Term Deferred Tax Liabilities	69.76	79.67	94.72	92.71	228.2	178.41
Other Long-Term Liabilities	565	561.05	493.84	478.06	529.71	435.19
Total Liabilities	3,451	3,455	3,587	4,026	2,624	1,845
Common Stock	338.12	338.12	338.12	338.12	338.12	338.12
Additional Paid-In Capital	1,610	1,610	1,681	2,080	1,151	1,149
Retained Earnings	-202.06	-458.34	-568.34	-817.54	326.3	570.04
Treasury Stock	-48.05	-37.04	-36.68	-16.97	-	-
Comprehensive Income & Other	3.43	6.03	28.4	27.73	41.88	45.59
Total Common Equity	1,701	1,459	1,442	1,612	1,858	2,103
Minority Interest	30.68	33.86	37.82	46.6	185.24	146.89
Shareholders' Equity	1,732	1,493	1,480	1,658	2,043	2,250
Total Liabilities & Equity	5,183	4,947	5,067	5,684	4,667	4,095
Total Debt	1,702	1,714	1,833	2,247	708	150
Net Cash (Debt)	-63.49	-210.08	-607.84	-1,304	317.04	1,006
Net Cash Growth	-	-	-	-	-68.48%	11.24%
Net Cash Per Share	-0.63	-2.07	-5.95	-12.66	3.08	9.76
Filing Date Shares Outstanding	100.9	101.52	101.54	102.18	103.05	103.05
Total Common Shares Outstanding	100.9	101.52	101.54	102.18	103.05	103.05
Working Capital	756.72	669.65	285.16	270.5	581.26	714.77
Book Value Per Share	16.86	14.37	14.20	15.77	18.03	20.41
Tangible Book Value	1,531	1,287	1,147	1,275	1,217	1,511
Tangible Book Value Per Share	15.18	12.68	11.30	12.48	11.81	14.67
Land	-	40.97	-	-	-	-
Buildings	-	562.42	685.78	685.78	626.91	544.3
Machinery	-	254.25	295.39	298.65	96.65	80.51
Construction In Progress	-	2.68	19.96	22.3	127.42	13.36
Leasehold Improvements	-	651.69	654.86	700.72	630.69	384.27

Updated Dec 23, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q