How much debt does GreenTree Hospitality Group have?

GreenTree Hospitality Group had total debt of CNY 256.20M as of Dec 31, 2025, against CNY 1.66B in cash and short-term investments. Its debt-to-equity ratio was 0.16. Total debt was CNY 1.71B a year earlier.

What are GreenTree Hospitality Group's total assets?

GreenTree Hospitality Group reported total assets of CNY 4.79B as of Dec 31, 2025, down 3.3% from CNY 4.95B a year earlier. Total liabilities were CNY 3.18B.

What is GreenTree Hospitality Group's shareholders' equity?

GreenTree Hospitality Group's shareholders' equity was CNY 1.61B as of Dec 31, 2025, or about CNY 15.94 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry.

GreenTree Hospitality Group (GHG) Balance Sheet: Assets & Liabilities

GreenTree Hospitality Group Balance Sheet Analysis

Values in billions CNY

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for GreenTree Hospitality Group Ltd. (GHG) - Annual data in billions CNY
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2022	FY 2021	FY 2021	FY 2020	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Mar 2023	Dec 2022	Mar 2022	Dec 2021	Mar 2021	Dec 2020	Mar 2020	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	1.65	1.49	0.77	0.70	0.70	0.30	0.30	0.61	0.61	0.32	1.26	0.16
Short-Term Investments	0.01	0.00	0.44	0.23	0.24	0.72	0.73	0.54	0.54	0.64	0.99	1.09
Cash & Short-Term Investments	1.66	1.49	1.21	0.93	0.94	1.01	1.03	1.16	1.16	0.96	2.26	1.25
Accounts Receivable	0.10	0.26	0.12	0.79	0.56	0.76	0.41	0.14	0.33	0.10	0.06	0.05
Inventory	0.00	0.01	0.02	0.02	0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Current Assets	0.09	0.08	0.02	0.08	0.12	0.05	0.16	0.28	0.01	0.20	0.13	0.18
Total Current Assets	1.90	1.84	1.63	1.81	1.81	1.83	1.83	1.58	1.58	1.27	2.45	1.49
Non-Current Assets
Property, Plant & Equipment (Net)	1.69	1.98	2.35	2.56	2.56	1.05	1.05	0.67	0.67	0.61	0.22	0.10
Long-Term Investments	0.44	0.47	0.03	0.31	0.31	0.35	0.35	0.86	0.86	0.96	0.11	0.12
Goodwill	0.03	0.10	0.18	0.18	0.18	0.12	0.12	0.10	0.10	0.10	0.01	0.00
Intangible Assets	0.06	0.08	0.12	0.16	0.16	0.52	0.52	0.49	0.49	0.50	0.03	0.00
Other Non-Current Assets	0.68	0.25	0.05	0.44	0.67	0.64	0.80	0.23	0.09	0.22	0.13	0.01
Total Non-Current Assets	2.89	3.11	3.44	3.87	3.87	2.84	2.84	2.51	-	2.55	0.56	0.27
Total Assets	4.79	4.95	5.07	5.68	5.68	4.67	4.67	4.09	4.09	3.82	3.01	1.76
Current Liabilities
Accounts Payable	0.06	0.06	0.07	0.12	0.15	0.02	0.03	0.02	0.02	0.02	0.01	0.01
Short-Term Debt	0.06	0.24	0.12	0.57	0.16	0.41	0.36	0.15	-	0.06	0.06	0.00
Current Portion of Long-Term Debt	0.06	0.00	0.00	-	0.14	-	0.05	-	-	-	-	-
Accrued Liabilities	0.61	0.56	0.55	-	0.53	-	0.44	-	0.15	-	-	-
Deferred Revenue	0.19	0.20	0.21	0.22	0.22	0.26	0.25	0.26	0.26	0.28	0.19	0.15
Other Current Liabilities	0.07	0.44	0.06	0.56	0.08	0.49	0.11	0.36	0.20	0.41	-35.83	0.65
Total Current Liabilities	1.18	1.17	1.34	1.54	1.54	1.25	1.25	0.87	0.87	0.86	0.68	0.81
Non-Current Liabilities
Long-Term Debt	0.20	1.47	0.06	1.68	0.16	0.30	0.30	0.00	-	0.00	0.00	0.00
Deferred Tax Liabilities	0.06	0.08	0.09	0.09	0.09	0.23	0.23	0.18	0.18	0.20	0.04	0.01
Other Non-Current Liabilities	0.77	0.56	0.11	0.48	0.81	0.46	1.07	0.41	0.44	0.38	0.48	0.36
Total Non-Current Liabilities	2.00	2.29	2.25	2.48	2.48	1.37	1.37	0.98	-	1.00	0.48	0.36
Total Liabilities	3.18	3.45	3.59	4.03	4.03	2.62	2.62	1.85	1.85	1.86	1.15	1.17
Stockholders' Equity
Common Stock	0.34	0.34	0.34	0.34	0.34	0.34	0.34	0.34	0.34	0.34	0.33	0.30
Retained Earnings	-0.29	-0.46	-0.57	-0.82	-0.82	0.33	0.33	0.57	0.57	0.31	0.46	0.07
Accumulated Other Comprehensive Income	0.01	0.01	0.03	0.03	0.03	0.04	0.04	0.05	0.05	0.07	0.06	0.00
Treasury Stock	0.05	0.04	0.04	-	0.02	-	-	-	-	-	-	-
Additional Paid-in Capital	1.57	1.57	1.68	2.06	2.08	1.15	1.15	1.15	-	1.15	1.00	0.36
Minority Interest	0.03	0.03	0.04	0.05	0.05	0.19	0.19	0.15	-	0.16	0.01	0.00
Shares Outstanding	0.10	0.10	0.10	-	0.10	-	0.10	-	-	-	-	-
Total Stockholders' Equity	1.61	1.46	1.44	1.61	1.66	1.86	2.04	2.10	2.25	1.80	1.85	0.58
Total Liabilities & Equity	4.79	4.95	5.07	5.10	5.68	4.73	4.67	4.09	-	3.82	3.01	1.76

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

GreenTree Hospitality Group Balance Sheet Analysis

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