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Beijing Tourism's profit up to RMB 1.35 bln in 2011

Jan. 9, 2012 (China Knowledge) - State-owned Beijing Tourism Group reaped RMB 1.35 billion in gross profits last year, 3.1% or RMB 41 million more than RMB 1.31 billion the company earned in 2010, in which the target made by the State-owned Assets Supervision and Administration Commission of People's Government of Beijing Municipality is achieved.

In 2011, Beijing Tourism Group saw its operating revenue reach RMB 34.7 billion, reflecting a year-on-year increase of 9.5% or RMB 3 billion from RMB 31.7 billion in 2010.

At the end of last year, the group had RMB 35 billion in total assets and RMB 11.5 billion in net asset, whereas it had RMB 8.3 billion and RMB 3.9 billion as of December 31, 1998, respectively.

China Quanjude (Group) Co Ltd<002186>, a popular Peking Duck restaurant chain owned by Beijing Tourism Group, added three regular chains, bringing the total number to 27 as of December 31, 2011, and its franchised store number increased by five to 58 at the end of last year.

Beijing Tourism Group is also the parent company of Beijing Capital Retailing Group Co Ltd<600723>, formerly known as Beijing Xidan Department Store Co, Beijing Capital Tourism Co Ltd<600258> and Home Inns & Hotels Management Inc<HMIN>.

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