Atour Lifestyle Holdings Limited Stories Second Quarter of 2025 Unaudited Financial Results

• A complete of 1,824 lodges, or 204,784 lodge rooms, in operation as of June 30, 2025.
• Net revenues for the second quarter of 2025 elevated by 37.4% year-over-year to RMB2,469 million (US$345 million).
• Net earnings for the second quarter of 2025 elevated by 39.8% year-over-year to RMB425 million (US$59 million).
• Adjusted web earnings (non-GAAP)1 for the second quarter of 2025 elevated by 30.2% year-over-year to RMB427 million (US$60 million).
• EBITDA (non-GAAP)2 for the second quarter of 2025 elevated by 45.1% year-over-year to RMB608 million (US$85 million).
• Adjusted EBITDA (non-GAAP)3 for the second quarter of 2025 elevated by 37.7% year-over-year to RMB610 million (US$85 million).

SHANGHAI, China, Aug. 26, 2025 (GLOBE NEWSWIRE) — Atour Lifestyle Holdings Limited (“Atour” or the “Company”) (NASDAQ: ATAT), a number one hospitality and way of life firm in China, right this moment introduced its unaudited monetary outcomes for the second quarter ended June 30, 2025.

Second Quarter of 2025 Operational Highlights

As of June 30, 2025, there have been 1,824 lodges with a complete of 204,784 lodge rooms in operation throughout Atour’s lodge community, representing fast will increase of 29.2% and 26.7% year-over-year when it comes to the variety of lodges and lodge rooms, respectively. As of June 30, 2025, there have been 816 manachised lodges below growth in our pipeline.

The common every day room fee4 (“ADR”) was RMB433 for the second quarter of 2025, in contrast with RMB441 for a similar interval of 2024 and RMB418 for the earlier quarter.

The occupancy fee4 was 76.4% for the second quarter of 2025, in contrast with 78.4% for a similar interval of 2024 and 70.2% for the earlier quarter.

_____________

1 Adjusted web earnings (non-GAAP) is outlined as web earnings excluding share-based compensation bills.
2 EBITDA (non-GAAP) is outlined as earnings earlier than curiosity expense, curiosity earnings, earnings tax expense and depreciation and amortization.
3 Adjusted EBITDA (non-GAAP) is outlined as EBITDA excluding share-based compensation bills.
4 Excludes lodge rooms that turned unavailable resulting from momentary lodge closures. ADR and RevPAR are calculated based mostly on tax-inclusive room charges.
“ADR” refers back to the common every day room fee, which suggests room income divided by the variety of rooms in use for a given interval;
“Occupancy rate” refers back to the variety of rooms in use divided by the variety of accessible rooms for a given interval;
“RevPAR” refers to income per accessible room, which is calculated by whole revenues throughout a interval divided by the variety of accessible rooms of our lodges throughout the identical interval.

The income per accessible room4 (“RevPAR”) was RMB343 for the second quarter of 2025, in contrast with RMB359 for a similar interval of 2024 and RMB304 for the earlier quarter.

The GMV5 generated from our retail enterprise was RMB1,144 million for the second quarter of 2025, representing a rise of 84.6% year-over-year.

Mr. Haijun Wang, Founder, Chairman and CEO of Atour, mentioned, “In the first half of 2025, amid a volatile and complex competitive landscape in the industry, we adhered to our business philosophy of ‘serving people’ and refocused on customers. By leveraging our differentiated experiential advantages, we achieved a strong performance across both our hotel and retail businesses. In our hotel business, we pursued high-quality, sustainable growth with a long-term mindset. By the end of the second quarter, the total number of hotels in operation reached 1,824 as we steadily advance toward our strategic goal of ‘2,000 Premier Hotels.’ Continuous upgrades to our hotel products and increasingly strong brand power have consolidated our differentiated competitive moat in targeted market segments. Our retail business maintained robust growth momentum, with GMV increasing by 84.6% year-over-year to RMB1,144 million. Atour Planet’s expanding deep sleep product portfolio continues to drive consumer sleep experience innovation.”

“Looking ahead to the second half of the year, we will stay true to our founding aspirations and remain committed to the ‘Chinese Experience’ strategic direction. We will continue to strengthen our fundamentals and prioritize our customers’ perspective, delivering Atour’s warmth and attentiveness through refined service and high-quality products,” concluded Mr. Wang.

Second Quarter of 2025 Unaudited Financial Results

(RMB in hundreds)		Q2 2024	Q2 2025
Revenues:
Manachised lodges		1,026,979	1,299,194
Leased lodges		180,333	149,597
Retail		536,734	964,849
Others		53,001	54,909
Net revenues		1,797,047	2,468,549

Net revenues. Our web revenues for the second quarter of 2025 elevated by 37.4% to RMB2,469 million (US$345 million) from RMB1,797 million for a similar interval of 2024. The improve was primarily pushed by development within the manachised lodge and retail companies.

• Manachised lodges. Revenues from our manachised lodges for the second quarter of 2025 elevated by 26.5% to RMB1,299 million (US$181 million) from RMB1,027 million for a similar interval of 2024. The improve was primarily pushed by our ongoing lodge community enlargement. The whole variety of our manachised lodges elevated from 1,382 as of June 30, 2024 to 1,800 as of June 30, 2025.

____________

5 “GMV” refers to gross merchandise worth, which is the whole worth of confirmed orders positioned and paid for by our finish clients with us or our franchisees, because the case could also be, and bought as a part of our retail enterprise, the place the ordered merchandise have been dispatched, no matter whether or not they’re delivered or returned, calculated based mostly on the costs of the ordered merchandise web of any reductions supplied to our finish clients.

• Leased lodges. Revenues from our leased lodges for the second quarter of 2025 decreased by 17.0% to RMB150 million (US$21 million) from RMB180 million for a similar interval of 2024. The lower was primarily as a result of lower within the variety of leased lodges because of our product combine optimization. The whole variety of our leased lodges decreased from 30 as of June 30, 2024 to 24 as of June 30, 2025.

• Retail. Revenues from retail for the second quarter of 2025 elevated by 79.8% to RMB965 million (US$135 million) from RMB537 million for a similar interval of 2024. The improve was pushed by rising recognition of our retail manufacturers and efficient product innovation and growth as we efficiently broadened our product choices.

• Others. Revenues from others for the second quarter of 2025 elevated by 3.6% to RMB55 million (US$8 million) from RMB53 million for a similar interval of 2024.

	Q2 2024	Q2 2025
(RMB in hundreds)
Operating prices and bills:
Hotel working prices	(775,753	)	(893,231	)
Retail prices	(265,003	)	(450,542	)
Other working prices	(9,918	)	(6,593	)
Selling and advertising and marketing bills	(224,607	)	(392,847	)
General and administrative bills	(91,488	)	(89,546	)
Technology and growth bills	(32,952	)	(42,574	)
Total working prices and bills	(1,399,721	)	(1,875,333	)

Operating prices and bills for the second quarter of 2025 had been RMB1,875 million (US$262 million), together with RMB2 million share-based compensation bills, in contrast with RMB1,400 million, together with RMB24 million share-based compensation bills for a similar interval of 2024.

• Hotel working prices for the second quarter of 2025 had been RMB893 million (US$125 million), in contrast with RMB776 million for a similar interval of 2024. The improve was primarily as a result of improve in variable prices, corresponding to provide chain prices and lodge supervisor prices, related to our ongoing lodge community enlargement. Hotel working prices accounted for 61.7% of manachised and leased lodges’ revenues for the second quarter of 2025, in contrast with 64.3% for a similar interval of 2024. The lower was primarily resulting from a decrease proportion of leased lodges because of our product combine optimization.
  

• Retail prices for the second quarter of 2025 had been RMB451 million (US$63 million), in contrast with RMB265 million for a similar interval of 2024. The improve was related to the fast development of our retail enterprise. Retail prices accounted for 46.7% of retail revenues for the second quarter of 2025, in contrast with 49.4% for a similar interval of 2024. The lower was attributable to the rising contribution from higher-margin merchandise.
  

• Other working prices for the second quarter of 2025 had been RMB7 million (US$1 million), in contrast with RMB10 million for a similar interval of 2024.

• Selling and advertising and marketing bills for the second quarter of 2025 had been RMB393 million (US$55 million), in contrast with RMB225 million for a similar interval of 2024. The improve was primarily resulting from our enhanced funding in model recognition and the efficient growth of on-line channels, aligned with the expansion of our retail enterprise. Selling and advertising and marketing bills accounted for 15.9% of web revenues for the second quarter of 2025, in contrast with 12.5% for a similar interval of 2024.
  

• General and administrative bills for the second quarter of 2025 had been RMB90 million (US$13 million), together with RMB2 million share-based compensation bills, in contrast with RMB91 million, together with RMB15 million share-based compensation bills for a similar interval of 2024. Excluding the share-based compensation bills, this improve was primarily resulting from a rise in labor prices. General and administrative bills, excluding share-based compensation bills, accounted for 3.6% of web revenues for the second quarter of 2025, in contrast with 4.2% for a similar interval of 2024.
  

• Technology and growth bills for the second quarter of 2025 had been RMB43 million (US$6 million), in contrast with RMB33 million for a similar interval of 2024. The improve was primarily attributable to our elevated investments in expertise techniques and infrastructure to help our increasing lodge community, retail enterprise and enhance buyer expertise. Technology and growth bills accounted for 1.7% of web revenues for the second quarter of 2025, in contrast with 1.8% for a similar interval of 2024.

Other working earnings (bills), web for the second quarter of 2025 was RMB3 million (US$0.4 million) earnings, in contrast with RMB6 million expense for a similar interval of 2024.

Income from operations for the second quarter of 2025 was RMB596 million (US$83 million), in contrast with RMB391 million for a similar interval of 2024.

Income tax expense for the second quarter of 2025 was RMB192 million (US$27 million), in contrast with RMB110 million for a similar interval of 2024. The improve was primarily resulting from increased earnings from operations in addition to withholding tax arising from dividend distributions.

Net earnings for the second quarter of 2025 was RMB425 million (US$59 million), representing a rise of 39.8% in contrast with RMB304 million for a similar interval of 2024.

Adjusted web earnings (non-GAAP) for the second quarter of 2025 was RMB427 million (US$60 million), representing a rise of 30.2% in contrast with RMB328 million for a similar interval of 2024.

Basic and diluted earnings per share/American depositary share (ADS). For the second quarter of 2025, fundamental earnings per share was RMB1.02 (US$0.14), and diluted earnings per share was RMB1.01 (US$0.14). For the second quarter of 2025, fundamental earnings per ADS was RMB3.06 (US$0.42), and diluted earnings per ADS was RMB3.03 (US$0.42).

EBITDA (non-GAAP) for the second quarter of 2025 was RMB608 million (US$85 million), representing a rise of 45.1% in contrast with RMB419 million for a similar interval of 2024.

Adjusted EBITDA (non-GAAP) for the second quarter of 2025 was RMB610 million (US$85 million), representing a rise of 37.7% in contrast with RMB443 million for a similar interval of 2024.

Cash flows. Operating money influx for the second quarter of 2025 was RMB767 million (US$107 million). Investing money outflow for the second quarter of 2025 was RMB771 million (US$108 million). Financing money outflow for the second quarter of 2025 was RMB411 million (US$57 million).

Cash and money equivalents and restricted money. As of June 30, 2025, the Company had a complete stability of money and money equivalents and restricted money of RMB2.7 billion (US$379 million).

Debt financing. As of June 30, 2025, the Company had whole excellent borrowings of RMB67 million (US$9 million).

Outlook

For the total 12 months of 2025, the Company presently expects whole web revenues to extend by 30% in contrast with full-year 2024.

This outlook is predicated on present market circumstances and the Company’s preliminary estimates, that are topic to modifications.

Conference Call

The Company will host a convention name at 7:00 AM U.S. Eastern time on Tuesday, August 26, 2025 (or 7:00 PM Beijing/Hong Kong time on the identical day). 

A dwell webcast of the convention name will likely be accessible on the Company’s investor relations web site at https://ir.yaduo.com, and a replay of the webcast will likely be accessible following the session.

For members who want to be a part of the convention name through phone, please pre-register utilizing the hyperlink offered beneath. Upon registration, every participant will obtain a set of participant dial-in numbers and a private PIN to hitch the convention name.

Details for the convention name are as follows: 

Event Title: Atour Second Quarter of 2025 Earnings Conference Call
Pre-registration Link:

Use of Non-GAAP Financial Measures

To complement the Company’s unaudited consolidated monetary outcomes offered in accordance with U.S. Generally-Accepted Accounting Principles (“GAAP”), the Company makes use of the next non-GAAP measures outlined as non-GAAP monetary measures by the U.S. Securities and Exchange Commission: adjusted web earnings, which is outlined as web earnings excluding share-based compensation bills; adjusted web earnings per abnormal share – Diluted, which is outlined as web earnings attributable to the Company excluding share-based compensation bills divided by the variety of weighted common abnormal shares utilized in calculating web earnings per abnormal share – Diluted; EBITDA, which is outlined as earnings earlier than curiosity earnings, curiosity expense, earnings tax expense and depreciation and amortization; adjusted EBITDA, which is outlined as EBITDA excluding share-based compensation bills. The presentation of those non-GAAP monetary measures shouldn’t be supposed to be thought of in isolation or as an alternative choice to the monetary info ready and offered in accordance with U.S. GAAP. For extra info on these non-GAAP monetary measures, please see the desk captioned “Reconciliations of GAAP and non-GAAP results” set forth on the finish of this launch.

The Company believes that EBITDA is broadly utilized by different corporations within the hospitality business and could also be utilized by traders as a measure of the monetary efficiency. Given the numerous investments that the Company has made in leasehold enhancements and different fastened property of leased lodges, depreciation and amortization includes a good portion of the Company’s price construction. The Company believes that EBITDA will present traders with a great tool for comparability between durations as a result of it eliminates depreciation and amortization attributable to capital expenditures. Adjusted web earnings, adjusted web earnings per abnormal share – Diluted, and adjusted EBITDA present significant supplemental info concerning the Company’s efficiency by excluding share-based compensation bills, because the traders can higher perceive the Company’s efficiency and evaluate enterprise tendencies amongst totally different reporting durations on a constant foundation. The Company believes that each administration and traders profit from referring to those non-GAAP monetary measures in assessing the Company’s efficiency and when planning and forecasting future durations. These non-GAAP monetary measures additionally facilitate administration’s inside comparisons to the Company’s historic efficiency. The Company believes these non-GAAP monetary measures are additionally helpful to traders in permitting for larger transparency with respect to supplemental info used repeatedly by Company administration in monetary and operational decision-making. The accompanying tables present extra particulars on the reconciliations between GAAP monetary measures which can be most instantly corresponding to non-GAAP monetary measures.

The use of those non-GAAP measures has sure limitations, because the excluded objects have been and will likely be incurred, and usually are not mirrored within the presentation of those non-GAAP measures. Each of these things also needs to be thought of within the general analysis of the outcomes. The Company compensates for these limitations by offering the disclosure of the related objects each in its reconciliations to the U.S. GAAP monetary measures and in its consolidated monetary statements, all of which needs to be thought of when evaluating the efficiency of the Company.

In addition, these measures is probably not corresponding to equally titled measures utilized by different corporations, as these corporations might not calculate these measures in the identical method because the Company does.

About Atour Lifestyle Holdings Limited

Atour Lifestyle Holdings Limited (NASDAQ: ATAT) is a number one hospitality and way of life firm in China, with a definite portfolio of way of life lodge manufacturers. Atour is the main higher midscale lodge chain in China and is the primary Chinese lodge chain to develop scenario-based retail enterprise. Atour is dedicated to bringing improvements to China’s hospitality business and constructing new way of life manufacturers round lodge choices.

For extra info, please go to https://ir.yaduo.com.

Investor Relations Contact

Atour Lifestyle Holdings Limited
Email: ir@yaduo.com

Christensen Advisory
Email: atour@christensencomms.com
Tel: +86-10-5900-1548

—Financial Tables and Operational Data Follow—

ATOUR LIFESTYLE HOLDINGS LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(All quantities in hundreds, besides share information and per share information, or in any other case famous)
		As of		As of
		December 31,		June 30,
		2024		2025
		RMB		RMB		USD1
Assets
Current property
Cash and money equivalents		3,618,451		2,715,596		379,083
Short-term investments		1,266,061		2,489,220		347,482
Accounts receivable		186,047		261,876		36,556
Prepayments and different present property		331,632		404,600		56,480
Amounts due from associated events		146,120		155,031		21,641
Inventories		167,436		151,636		21,168
Total present property		5,715,747		6,177,959		862,410
Non-current property
Restricted money		1,179		1,179		165
Contract prices		119,408		130,766		18,254
Property and tools, web		213,676		245,313		34,244
Operating lease right-of-use property		1,502,891		1,466,210		204,675
Intangible property, web		6,373		5,598		781
Goodwill		17,446		17,446		2,437
Other property		71,217		71,753		10,016
Deferred tax property		230,877		239,302		33,405
Total non-current property		2,163,067		2,177,567		303,977
Total property		7,878,814		8,355,526		1,166,387
Liabilities and shareholders’ fairness
Current liabilities
Operating lease liabilities, present		291,002		290,872		40,604
Accounts payable		693,783		786,352		109,770
Deferred income, present		453,986		467,430		65,251
Salary and welfare payable		225,687		213,434		29,794
Accrued bills and different payables		882,009		977,995		136,523
Income taxes payable		221,649		133,047		18,573
Short-term borrowings		60,000		65,000		9,074
Amounts resulting from associated events		2,101		1,798		251
Total present liabilities		2,830,217		2,935,928		409,840
Non-current liabilities
Operating lease liabilities, non-current		1,379,811		1,340,079		187,068
Deferred income, non-current		475,331		516,244		72,065
Long-term borrowings, non-current portion		2,000		2,000		279
Other non-current liabilities		245,568		273,184		38,135
Total non-current liabilities		2,102,710		2,131,507		297,547
Total liabilities		4,932,927		5,067,435		707,387

___________

1 Translations of balances within the consolidated monetary statements from RMB into US$ for the second quarter of 2025 and as of June 30, 2025 are solely for readers’ comfort and had been calculated on the fee of US$1.00=RMB 7.1636, representing the trade fee set forth within the H.10 statistical launch of the Federal Reserve Board on June 30, 2025.

ATOUR LIFESTYLE HOLDINGS LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(All quantities in hundreds, besides share information and per share information, or in any other case famous)
		As of		As of
		December 31,		June 30,
		2024			2025
		RMB		RMB		USD1
Shareholders’ fairness
Class A abnormal shares		245			246			34
Class B abnormal shares		56			56			8
Additional paid in capital		1,608,017			1,724,734			240,764
Retained earnings		1,346,526			1,595,272			222,691
Accumulated different complete (loss) earnings		1,386			(23,368	)		(3,262	)
Totalfairnessattributable to shareholders of the Company		2,956,230			3,296,940			460,235
Non-controlling pursuits		(10,343	)		(8,849	)		(1,235	)
Totalshareholders’ fairness		2,945,887			3,288,091			459,000
Commitments and contingencies		–			–			–
Total liabilities and shareholders’ fairness		7,878,814			8,355,526			1,166,387

ATOUR LIFESTYLE HOLDINGS LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(All quantities in hundreds, besides share information and per share information, or in any other case famous)
		Three Months Ended		Six Months Ended
		June 30,		June 30,		June 30,		June 30,
		2024			2025			2024			2025
		RMB		RMB		USD1		RMB		RMB		USD1
Revenues:
Manachised lodges		1,026,979			1,299,194			181,360			1,863,090			2,331,377			325,448
Leased lodges		180,333			149,597			20,883			348,382			278,160			38,830
Retail		536,734			964,849			134,688			953,325			1,658,628			231,536
Others		53,001			54,909			7,665			100,543			106,198			14,824
Net revenues		1,797,047			2,468,549			344,596			3,265,340			4,374,363			610,638
Operating prices and bills:
Hotel working prices		(775,753	)		(893,231	)		(124,690	)		(1,437,922	)		(1,629,376	)		(227,452	)
Retail prices		(265,003	)		(450,542	)		(62,893	)		(471,106	)		(787,968	)		(109,996	)
Other working prices		(9,918	)		(6,593	)		(921	)		(19,744	)		(14,221	)		(1,986	)
Selling and advertising and marketing bills		(224,607	)		(392,847	)		(54,839	)		(399,318	)		(675,744	)		(94,330	)
General and administrative bills		(91,488	)		(89,546	)		(12,500	)		(168,143	)		(251,359	)		(35,088	)
Technology and growth bills		(32,952	)		(42,574	)		(5,943	)		(57,133	)		(81,955	)		(11,440	)
Total working prices and bills		(1,399,721	)		(1,875,333	)		(261,786	)		(2,553,366	)		(3,440,623	)		(480,292	)
Other working earnings (bills), web		(5,943	)		2,966			414			4,066			17,723			2,474
Income from operations		391,383			596,182			83,224			716,040			951,463			132,820
Interest earnings		12,396			22,437			3,132			25,915			41,717			5,823
Gain from short-term investments		10,945			8,674			1,211			20,537			18,525			2,586
Interest expense		(854	)		(781	)		(109	)		(1,527	)		(1,395	)		(195	)
Other bills, web		(85	)		(9,791	)		(1,367	)		(551	)		(15,900	)		(2,220	)
Income earlier than earnings tax		413,785			616,721			86,091			760,414			994,410			138,814
Income tax expense		(109,879	)		(191,871	)		(26,784	)		(198,800	)		(325,982	)		(45,505	)
Net earnings		303,906			424,850			59,307			561,614			668,428			93,309
Less: web earnings attributable to non-controlling pursuits		254			619			86			804			1,494			209
Net earnings attributable to the Company		303,652			424,231			59,221			560,810			666,934			93,100
Net earnings		303,906			424,850			59,307			561,614			668,428			93,309
Other complete (loss) earnings
Foreign forex translation changes, web of nil earnings taxes		5,622			(15,399	)		(2,150	)		13,131			(24,754	)		(3,456	)
Other complete (loss) earnings, web of nil earnings taxes		5,622			(15,399	)		(2,150	)		13,131			(24,754	)		(3,456	)
Total complete earnings		309,528			409,451			57,157			574,745			643,674			89,853
Comprehensive earnings attributable to non-controlling pursuits		254			619			86			804			1,494			209
Comprehensive earnings attributable to the Company		309,274			408,832			57,071			573,941			642,180			89,644
Net earnings per abnormal share
—Basic		0.73			1.02			0.14			1.36			1.61			0.22
—Diluted		0.73			1.01			0.14			1.35			1.59			0.22
Weighted common abnormal shares utilized in calculating web earnings per abnormal share
—Basic		413,244,101			416,249,651			416,249,651			413,042,603			415,473,352			415,473,352
—Diluted		416,487,748			419,793,860			419,793,860			416,300,958			419,500,241			419,500,241

ATOUR LIFESTYLE HOLDINGS LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In hundreds of RMB, besides share information and per share information, or in any other case famous)
		Three Months Ended		Six Months Ended
		June 30,		June 30,		June 30,		June 30,
		2024			2025			2024			2025
		RMB		RMB		USD1		RMB		RMB		USD1
Cash flows from working actions:
Net money generated from working actions		576,641			766,503			107,000			719,877			768,471			107,274
Cash flows from investing actions:
Payment for purchases of property and tools		(20,136	)		(28,971	)		(4,044	)		(32,751	)		(48,271	)		(6,738	)
Proceeds from disposal of property and tools		–			–			–			–			4,740			662
Payment for purchases of intangible property		–			(152	)		(21	)		(282	)		(227	)		(32	)
Payment for purchases of short-term investments		(4,578,000	)		(3,224,000	)		(450,053	)		(7,242,000	)		(6,817,000	)		(951,617	)
Proceeds from maturities of short-term investments		4,291,899			2,482,370			346,525			7,005,760			5,612,366			783,456
Net money utilized in investing actions		(306,237	)		(770,753	)		(107,593	)		(269,273	)		(1,248,392	)		(174,269	)
Cash flows from financing actions:
Proceeds from borrowings		–			5,000			698			20,000			35,000			4,886
Repayment of borrowings		–			(10,000	)		(1,396	)		–			(30,000	)		(4,188	)
Proceeds from inventory possibility workouts		–			11,885			1,659			–			13,331			1,861
Payment for dividends		–			(418,188	)		(58,377	)		–			(418,188	)		(58,377	)
Net money (utilized in) generated from financing actions		–			(411,303	)		(57,416	)		20,000			(399,857	)		(55,818	)
Effect of trade fee modifications on money and money equivalents and restricted money		4,227			(14,864	)		(2,074	)		11,628			(23,077	)		(3,220	)
Net (lower) improve in money and money equivalents and restricted money		274,631			(430,417	)		(60,083	)		482,232			(902,855	)		(126,033	)
Cash and money equivalents and restricted money originally of the interval		3,049,354			3,147,192			439,331			2,841,753			3,619,630			505,281
Cash and money equivalents and restricted money on the finish of the interval		3,323,985			2,716,775			379,248			3,323,985			2,716,775			379,248

ATOUR LIFESTYLE HOLDINGS LIMITED UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS
(In hundreds of RMB, besides share information and per share information, or in any other case famous)
		Three Months Ended		Six Months Ended
		June 30,		June 30,		June 30,		June 30,
		2024			2025			2024			2025
		RMB		RMB		USD1		RMB		RMB		USD1
Net earnings (GAAP)		303,906			424,850			59,307			561,614			668,428			93,309
Share-based compensation bills, web of tax impact of nil2		23,885			1,838			256			27,027			103,387			14,432
Adjusted web earnings (non-GAAP)		327,791			426,688			59,563			588,641			771,815			107,741
		Three Months Ended		Six Months Ended
		June 30,		June 30,		June 30,		June 30,
		2024			2025			2024			2025
		RMB		RMB		USD1		RMB		RMB		USD1
Net earnings per abnormal share – Diluted (GAAP)		0.73			1.01			0.14			1.35			1.59			0.22
Share-based compensation bills, web of tax impact of nil per abnormal share2		0.06			0.00			0.00			0.06			0.25			0.03
Adjusted web earnings per abnormal share – Diluted (non-GAAP)		0.79			1.01			0.14			1.41			1.84			0.25
		Three Months Ended		Six Months Ended
		June 30,		June 30,		June 30,		June 30,
		2024			2025			2024			2025
		RMB		RMB		USD1		RMB		RMB		USD1
Net earnings (GAAP)		303,906			424,850			59,307			561,614			668,428			93,309
Interest earnings		(12,396	)		(22,437	)		(3,132	)		(25,915	)		(41,717	)		(5,823	)
Interest expense		854			781			109			1,527			1,395			195
Income tax expense		109,879			191,871			26,784			198,800			325,982			45,505
Depreciation and amortization		16,690			12,786			1,785			33,839			25,996			3,629
EBITDA (non-GAAP)		418,933			607,851			84,853			769,865			980,084			136,815
Share-based compensation bills		23,885			1,838			256			27,027			103,387			14,432
Adjusted EBITDA (non-GAAP)		442,818			609,689			85,109			796,892			1,083,471			151,247

__________

2 The share-based compensation bills had been recorded at entities in PRC. Share-based compensation bills had been non-deductible bills in PRC. Therefore, there isn’t a tax impression for share-based compensation bills adjustment for non-GAAP monetary measures.

Key Operating Data

	Number of Hotels		Number of Rooms
	Opened in Q2 2025	Closed in Q2 2025	As of June 30, 2025		As of June 30, 2025
Manachised lodges	118	20	1,800		3,597
Leased lodges	–	1	24		201,187
Total	118	21	1,824		204,784

Brand	Positioning	As of June 30, 2025
Properties	Rooms
Manachised	Leased
A.T. House	Luxury	–	1	214
SAVHE	Upscale	1	1	325
Atour S	Upscale	84	2	12,162
Atour	Upper midscale	1,356	17	156,424
Atour X	Upper midscale	180	3	19,049
Atour Light	Midscale	179	–	16,610
Total		1,800	24	204,784

	All Hotels in Operation
	Three Months Ended June 30, 2024		Three Months Ended March 31, 2025		Three Months Ended June 30, 2025
Occupancy fee3 (in proportion)
Manachised lodges	78.2%		70.1%		76.2%
Leased lodges	83.7%		77.5%		82.4%
All lodges	78.4%		70.2%		76.4%
ADR3 (in RMB)
Manachised lodges	436.4		415.1		429.6
Leased lodges	573.0		551.9		590.7
All lodges	440.6		417.9		432.8
RevPAR3 (in RMB)
Manachised lodges	354.5		301.5		339.9
Leased lodges	503.3		453.1		513.0
All lodges	358.7		304.4		343.1

	Hotels in Operation for More Than 18 Months in Q2 20254
	Number of lodges		Same-hotel Occupancy3 (in proportion)		Same-hotel ADR3 (in RMB)		Same-hotel RevPAR3 (in RMB)
	Q2 2024	Q2 2025		Q2 2024	Q2 2025		Q2 2024	Q2 2025		Q2 2024	Q2 2025
Manachised lodges	1,061	1,061		79.9%	77.1%		442.7	433.5		367.5	347.0
Leased lodges	22	22		84.3%	82.8%		598.1	575.2		528.9	502.9
All lodges	1,083	1,083		80.0%	77.2%		447.1	437.3		371.8	350.9

______________

3 Excludes lodge rooms that turned unavailable resulting from momentary lodge closures. ADR and RevPAR are calculated based mostly on tax-inclusive room charges.
4 For any given interval, we outline “same-hotel” to be a lodge that has operated for no less than 18 calendar months as of the fifteenth day (inclusive) of any month inside that interval. The OCC, ADR and RevPAR offered above symbolize such metrics generated by “same hotels” within the given interval, in comparison with the corresponding metrics generated by these “same hotels” throughout the identical interval in 2024.