Net income was RMB57.3 million ( US$7.9 million ) compared to RMB32.6 million for the first quarter of 2023. Core net income (non-GAAP)[3] increased 21.5% year over year to RMB60.7million ( US$ 8 .4million)[1]SHANGHAIJune 25, 2024China/PRNewswire/ -- GreenTree Hospitality Group Ltd. (NYSE: GHG) ("GreenTree", the "Company", "we", "us" and "our"), a leading hospitality and restaurant management group in, today announced its unaudited financial results for the first quarter of 2024. The terms Adjusted EBITDA and core net income are not defined under U.S. GAAP, and Adjusted EBITDA and core net income are not measures of net income, operating income, operating performance or liquidity presented in accordance with U.S. GAAP. In addition, our Adjusted EBITDA and core net income may not be comparable to Adjusted EBITDA and core net income or similarly titled measures utilized by other companies since such other companies may not calculate Adjusted EBITDA and core net income in the same manner as we do. About GreenTree Hospitality Group Ltd.GreenTree Hospitality Group Ltd. ("GreenTree" or the "Company") (NYSE: GHG) is a leading hospitality and restaurant management group in China.
