Welcome to our dedicated page for Greentree Hospit SEC filings (Ticker: GHG), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
GreenTree Hospitality Group Ltd.’s filings document foreign-issuer reporting for a China-based hospitality and restaurant management group with NYSE-listed American depositary shares. Form 6-K reports furnish operating and financial results, including hotel network activity, room count, openings, contracted pipeline, occupancy, average daily room rate, RevPAR, restaurant results, segment revenue, non-GAAP measures and cash-flow disclosures.
Annual Form 20-F reporting and related foreign-issuer disclosures cover audited consolidated financial statements, ordinary-share and ADS matters, dividend mechanics, and the company’s reporting status. The filings frame GreenTree’s hotel and restaurant operations through its franchised-and-managed, leased-and-operated, restaurant, wholesale and other business categories in China.
GreenTree Hospitality Group Ltd. reported weaker top-line results for the fourth quarter and full year 2025, while bottom-line profitability improved on a full-year basis. Fourth-quarter total revenue was RMB228.7 million (US$32.7 million), down 24.9% year over year, as hotel RevPAR fell 9.5% and the company closed 15 leased-and-operated hotels and 6 stores. Full-year 2025 revenue was RMB1,097.4 million (US$156.9 million), an 18.3% decline.
Despite lower revenue, full-year net income rose to RMB163.4 million (US$23.4 million) from RMB107.3 million, helped by other income and gains. However, fourth-quarter net loss was RMB55.7 million (US$8.0 million), narrowed from RMB72.8 million, reflecting significant impairments in the restaurant business and provisions on franchisee loans.
Non-GAAP metrics were mixed. Fourth-quarter adjusted EBITDA fell 41.3% to RMB41.9 million (US$6.0 million), but core net income grew 9.2% to RMB63.2 million (US$9.0 million) with margin improving to 27.6%. For 2025, adjusted EBITDA declined 25.8% to RMB286.6 million (US$41.0 million) and core net income decreased 23.9% to RMB211.2 million (US$30.2 million). The company ended 2025 with 4,580 hotels and 191 restaurants and expects 2026 organic hotel revenue to be roughly flat versus 2025.
GreenTree Hospitality Group Ltd. files its annual report on Form 20-F for the year ended December 31, 2025, detailing its China-focused hotel and restaurant operations and key risks.
The company’s ADSs trade on the NYSE under “GHG,” with 66,134,416 Class A and 34,762,909 Class B ordinary shares outstanding as of December 31, 2025. About 99.0% of hotels are franchised-and-managed, contributing 57.9% of 2025 revenue, underscoring reliance on franchise partners. The filing highlights extensive legal, regulatory, tax, FX and labor risks tied to operating primarily in China, including PRC government oversight, currency controls, urban planning-related demolition risks, labor and social benefit underfunding exposure, franchise compliance issues, lease and title uncertainties, and PCAOB/HFCA Act-related audit and U.S. listing risks. It also notes RMB6.9931 to US$1.00 as the reference exchange rate and discloses non-distributable PRC statutory reserves and restricted net assets that limit dividend upstreaming capacity.
GreenTree Hospitality Group Ltd. director Zhu Yanjie reported holdings of employee stock options under the 2018 Share Incentive Plan. These options allow the purchase of 10,000 Class A Ordinary Shares at an exercise price of $14.00 per share and expire on December 31, 2027. The filing reflects holdings only, with no new buy or sell transaction reported.
GreenTree Hospitality Group Ltd. director Zhu Yanjie reported holdings of employee stock options granted under the 2018 Share Incentive Plan. These options relate to 10,000 Class A Ordinary Shares at an exercise price of $14.00 per share and expire on December 31, 2027. The filing reflects an existing option position rather than a new open‑market trade.
GreenTree Hospitality Group Ltd. director Li Dong filed an initial ownership report showing a holding of 1,000 Class A Ordinary Shares. These shares are reported as a direct position, and the filing does not reflect any new buy or sell transaction, only the existing ownership.
GreenTree Hospitality Group Ltd. director Karns Gregory James filed an initial ownership report showing beneficial ownership of 1,396,000 class A shares. These shares are reported as held indirectly through a family trust, meaning the position is recorded but no new purchase or sale is disclosed.
GreenTree Hospitality Group Ltd. director Xie Bingwu filed an initial ownership report showing indirect holdings of 134,910 Ordinary Shares. These shares are reported as indirectly owned, with the filing noting that Bingwu Xie holds 0.1477% of GreenTree Inns Hotel Management Group, Inc.
GreenTree Hospitality Group Ltd. director, CEO, chairman and 10% owner Xu Alex Shuguang filed an initial Form 3 reporting indirect beneficial ownership of 38,174,681 Ordinary Shares. These shares are held through a parent company, and the filing does not report any new purchases or sales.
GreenTree Hospitality Group Ltd. filed an initial insider ownership report for director Xie Bingwu. This Form 3 identifies Xie as a director but shows no reported transactions, holdings, or derivative positions, serving as a baseline disclosure of insider status for regulatory purposes.
GreenTree Hospitality Group Ltd. director Xie Bingwu filed an initial ownership report showing indirect holdings of 131,167 Class A Ordinary Shares. These shares are held through GreenTree Inns Hotel Management Group, Inc. The filing does not report any new purchases or sales, only existing ownership.