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Nasdaq-listed Hanting suffered US$1.5 million loss in Q1

May. 10, 2012 (China Knowledge) – Nasdaq-listed Hanting Inns & Hotels<HTHT>, reaped RMB 9.43 million or US$1.5 million in net loss attributable to shareholders in the first quarter of this year, while the company posted a net loss of RMB 14 million or US$2.1 million in the same period of last year.

On a non-GAAP basis, the U.S.-listed firm's net loss attributable to shareholders was RMB 6.1 million in the quarter, compared with a net loss of RMB 10.6 million in the first quarter of 2011.

For the first quarter of 2012, the hotel chain saw its basic and diluted loss per American Depositary Share was RMB 0.16 or US$0.02.

Total revenue stood at RMB 689 million or US$109 million in the three-month period, up 52.9% from a year earlier, mainly due to the strong average daily operating revenue of each room and the increase of hotel amount.

As of Mar. 31, 2012, the company operates 675 hotels including 353 chain stores and 322 franchised stores covering 111 Chinese cities.

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