Restructuring of core industries and starting industrial integration
On November 11, 2003, Assets Replacement Proposal Between Us and Jin Jiang International was deliberated on and approved in the first extraordinary shareholder meeting of the company in 2003, which confirmed the hotel and catering industries as its core industries.

Asset replacement and placement into Jinjiang Star
On October 23, 2009, Proposal for Major Assets Replacement, Purchase and Relevant Transaction Schemes was deliberated on and approved in the first extraordinary shareholder meeting of the company in 2009. On May 12, 2010, the proposal was given an official reply and approval by CSRC. According to Assets Replacement and Rearrangement Agreement made between the company and Shanghai Jin Jiang Capital Co., Ltd (formerly Shanghai Jin Jiang International Hotels (Group) Co., Ltd, hereinafter Jin Jiang Assets) on August 28, 2009, the assets delivery date between the two parties was May 31, 2010, the last day of the assets rearrangement and replacement month stated in the agreement approved by CSRS. On the delivery day, the company delivered the equity of the replaced assets with Jin Jiang Capital through Shanghai United Assets and Equity Exchange. Through the major assets replacement, the main business of the company changed from hotel investment and operation, starred hotels management and chain catering investment to economy hotel business and chain catering investment business.

In March 2013, based on the brand analysis and business orientation by Jin Jiang Capital, the company’s dominant stockholder, the hotel business of Jin Jiang Capital includes full service hotels and limited service hotels, among which Jin Jiang Hotels would devote itself to the development of limited service hotels (including economy hotels and limited service business hotels).

In December 2014, August 2016 and March 2021, the company completed the issuance of private A-shares, which promoted the development of limited service hotel business further.