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Celebrate Jinling Hotel (601007) Entering the Stork Market on April 6th
On April 6th, 2007, Jinling Hotel (601007) successfully entered Shanghai's Stock Exchange to become the first listed company in Jiangsu's hospitality industry and the 100th listed company in Jiangsu Province. The opening price of Jinling Hotel was RMB8.50 at 9:30am, and it swiftly rose to RMB 12.00 within ten minutes. The highest price once reached RMB15.00. The closing price for that day was RMB13.37, almost 3 times higher than its issued price of RMB4.25. The turnover for the first day was 6800 stocks with its rate up to 61.88%. Jinling Hotel enjoyed its highest rise in the stock market since last June when IPO (Initial Public Offerings) were issued again. Also, it brought the highest return to investors who had subscribed to this new stock.
At the ceremony celebrating Jinling Hotel entering into the stock market, Zhang Weiguo, Vice Governor of Jiangsu Province said in his speech: Jinling Hotel is a leading corporation in Jiangsu as well as the Chinese hospitality industry. It has maintained a superior performance and image for more than 20 years. By entering into the stock market Jinling Hotel will surely increase its competitiveness and brand name recognition bringing positive attention to Jiangsu's hospitality industry. With a strategy for developing the hospitality industry the provincial government pledges to provide steady support to Jining Hotel helping it to become world famous. He also hopes Jinling Hotel Corporation will continue improving itself: increasing competitiveness, winning more market share and becoming increasingly innovative after being listed on the stock exchange.
Ms. Li Jianwei, Chairman of Jinling Hotel Corporation also gave a speech: Jinling Hotel is the first 5-star hotel in Jiangsu. With over 24-years of experience managing Jinling Hotel combined with remaining competitive, Jinling has become a flagship of Chinese hospitality industry with strong strength and heralded predominance. Jinling has been a witness to the development of Chinese hospitality industry growth. It has created a successful way of managing luxury hotels by Chinese professionals, and it has built up a famous brand name blending Eastern style with international standards. Getting listed on the stock market provides us new opportunities and energy, as well as more responsibilities. This is a new platform and touchstone for us. To maintain our hotel's vigorous growth while becoming a world-famous brand, we will infuse honesty and a sense of purpose into every employee of Jinling and place innovation as a priority throughout our entire hotel philosophy and culture eliciting trust from all investors as well as others. Jinling Hotel will grow steadily with better performance. At the same time, Chairman Li gave sincere thanks to the government, supervisory institution and entire community for their support. She feels very grateful to Jinling's staff for working so hard. She said: Jinling Hotel will reward investors, guests and society with more achievements, and continue to contribute to the development of Jiangsu Province! The national brand name ‘Jinling Hotel’ will become a pride of Jiangsu and China as well!
Chen Mengmeng, Vice Secretary of Jiangsu Government, Zuo Hong, Director of Jiangsu Securities Supervision Bureau, Zhang Yundong, Director of Shenzhen Securities Supervision Bureau, Qi Naichang, Vice Director of Jiangsu Development and Reform Commission, Cai Guorong, Vice Director of Jiangsu State-owned Assets Supervision and Administration Commission, Zhou Qinye, Deputy General Manager of Shanghai Stock Exchange, Tang Wenjian, Chairman of Jinling Holdings Ltd., Pan Jianqiu, Vice President of Huatai Securities Co., Ltd presented at this ceremony. (Zhang Shengxin)
