H World Group Limited (HWORLD-S) has filed its annual report on Form 20-F for the fiscal year ended 31 December 2025 with the U.S. Securities and Exchange Commission. Key disclosures include:

• Revenue climbed 5.9% year on year to RMB25.31 billion, driven by an expanded hotel network.

• Net income attributable to shareholders more than doubled to RMB5.08 billion, equivalent to US$726 million.

• Adjusted EBITDA rose 24.3% to RMB8.47 billion; margin improved to 33.5%.

• Cash and cash equivalents totaled RMB10.39 billion, with undrawn facilities of about RMB6.30 billion.

• Hotel portfolio reached 12,858 properties (1.26 million rooms) across 1,222 cities; pipeline stands at 2,906 hotels.

• Legacy Huazhu contributed RMB20.54 billion of revenue, while legacy Deutsche Hospitality added RMB4.79 billion.

• Two cash dividends were declared in 2025, totaling roughly US$550 million; an additional US$400 million dividend was approved in March 2026.

• Capital expenditure for 2025 was RMB838 million, mainly for leasehold improvements and technology.

• Convertible senior notes of US$500 million issued in 2020 are now classified as short-term debt and mature on 1 May 2026.

• Management affirms compliance with NASDAQ, Hong Kong Stock Exchange and SEC filing requirements; Deloitte Touche Tohmatsu issued an unqualified audit opinion.