Accor Holdings (03313.HK) announced on March 31 that for the year ended December 31, 2021, the company's income was 87.976 million yuan, an increase of 19.06% over the same period last year. The annual loss attributable to the owner of the parent company was 418 million yuan, compared with 230 million yuan in the same period last year, and the basic loss per share was 0.098 yuan.

The Group has readjusted its business strategy to cope with the challenging environment. In order to strengthen its overall financial position and liquidity, the Group has sold controlling interests in eight investment properties in 2021. It has also tightened credit policies for customers and stepped up collection of long-term accounts (including requiring customers to settle 50 per cent and 100 per cent of accounts older than 6 months and 12 months respectively before making any new sales to them). The company also delayed or slowed capital expenditure, capital commitments, prepayments and purchases of raw materials until the operating environment became clearer and more stable.