Sino Hotel (01221.HK) announced its annual results for the year to the end of June this year, with a turnover of 112 million yuan, a year-on-year decline of 30.1%. The loss widened to 95.3349 million yuan, compared with a loss of 76.363 million yuan in the same period last year, or 8.34 cents per share. No final interest.

Chairman Huang Zhixiang said that during the period, the epidemic hit cross-boundary and international tourism, seriously affected the group's hotel business, and the general improvement in market conditions in the second half of the financial year led to a corresponding rebound in the occupancy rate of its hotels. The management is concerned about the current challenges and proactive plans and launched measures to reduce the impact, and strive to open up new sources of business, such as introducing accommodation and holiday discounts targeted at local guests.

Looking ahead, the Group is exploring new technologies to provide customers with non-contact and non-touch services to enhance accommodation and catering experience. In developing new business, apart from meeting the increasing demand for accommodation and holidays, the Group is also targeting long-term guests for publicity. As the epidemic has eased, Sino Hotel remains optimistic about the future.