Economy hotel chain Podinn Hotel's application for a New Third Board listing was approved and the Hangzhou-based hotelier landed on the board on October 17, according to an announcement released by National Equity Exchange and Quotations (NEEQ) on October 14.
A disclosure file shows that the company’s chairman Hui Zhu and board members Jinli Zhu and Stephanie Shi together directly and indirectly control 32.63% stake in Podinn Hotel. A subsidiary of internet video company Letv has taken 0.47% equity in the hotelier.
Podinn Hotel recorded operating revenue of RMB 419 million in 2015 and RMB 376 million in 2014. The company posted RMB 1.98 million net loss in 2015 and RMB 12.18 million net income in 2014, according to the announcement.
Podinn Hotel was founded in 2007 and was formerly known as Zhuyou Hotel Group. The company holds 31 wholly-owned subsidiaries, two majority-owned subsidiaries and 12 second-tier subsidiaries. Podinn Hotel has 463 hotels in more than 60 cities in China as of December 31, 2015. (Translated by Jerry)