Sign in

You're signed outSign in or to get full access.

Lewen Liu

Managing Director and Senior Analyst at China Securities

Lewen Liu is a Managing Director and Senior Analyst at China Securities, specializing in China A-share consumer and retail sectors with a focus on prominent companies such as Kweichow Moutai, Wuliangye, and Yili Group. Known for his in-depth and accurate coverage, Liu consistently ranks among the top China consumer research analysts, recognized with multiple accolades from industry benchmarks. Since joining China Securities in 2014 after several years at Haitong Securities as a sector analyst, he has built a strong track record, maintaining a recommendation success rate above 65% and contributing to outstanding investment returns for his clients. Lewen Liu holds the Chinese Securities Qualification License and is widely regarded for his leadership and analytical insight within the Chinese equity market.

Lewen Liu's questions to GreenTree Hospitality Group (GHG) leadership

Question · Q3 2024

Lewen Liu from China Securities asked about the company's bargaining power relative to Online Travel Agencies (OTAs) given their rapid growth, and requested more details on a new hotel project in Guizhou.

Answer

Executive Alex Xu responded that the growth of OTAs is a natural part of the industry's digitalization, primarily taking share from offline channels. He stated the company is working closely with reputable OTAs to create a mutually profitable 'win-win' ecosystem. Regarding the Guizhou project, Mr. Xu confirmed they are partnering with the local government to reposition and reopen a nonperforming 4-5 star hotel, viewing it as a significant opportunity to create a showcase asset.

Ask follow-up questions

Fintool

Fintool can predict GreenTree Hospitality Group logo GHG's earnings beat/miss a week before the call

Question · Q2 2024

Lewen Liu from China Securities asked about the demand trends, specifically the difference between business and leisure travel. Liu also questioned if there was a performance disparity in Q2 between hotels in first and second-tier cities versus those in lower-tier cities.

Answer

Executive Alex Xu responded that there is a clear trend of more leisure travel than business travel, with higher demand in third-tier cities and resort areas, a trend expected to continue. Regarding city-tier performance, Xu noted that first-tier cities saw the largest RevPAR drop (12.5%), followed by second-tier (11.7%), while third-tier cities were most resilient with only a 9% reduction, attributing this to a pullback in business and government travel from last year's highs.

Ask follow-up questions

Fintool

Fintool can write a report on GreenTree Hospitality Group logo GHG's next earnings in your company's style and formatting