| LEASES |
10. LEASES
The Group has operating leases arrangements for
their leased and operated hotels and restaurants.
A summary of supplemental information related
to operating leases as of December 31, 2024 and 2025 is as follows:
| | | As of December 31, | | | | | 2024 | | | 2025 | | | 2025 | | | | | RMB | | | RMB | | | USD | | | Operating lease right-of-use assets | | | 1,328,582,419 | | | | 1,130,088,595 | | | | 161,600,520 | | | Operating lease liabilities, current | | | 241,363,244 | | | | 184,665,265 | | | | 26,406,782 | | | Operating lease liabilities, non-current | | | 1,215,776,075 | | | | 1,032,472,822 | | | | 147,641,650 | | | Total operating lease liabilities | | | 1,457,139,319 | | | | 1,217,138,087 | | | | 174,048,432 | | | Right-of-use assets obtained in exchange for operating lease liabilities | | | 150,287,251 | | | | 367,980,613 | | | | 52,620,528 | | | Weighted average remaining lease term (in years) | | | 8 | | | | 9 | | | | | | | Weighted average discount rate | | | 4 | % | | | 4 | % | | | | |
Lease expense for all the
Group’s operating leases for the years ended December 31, 2023, 2024 and 2025 were RMB 279,301,541, RMB 258,421,629 and RMB 246,116,497(USD35,194,191)
respectively.
A summary of maturity of
operating lease liabilities under the Group’s non-cancelable operating leases as of December 31, 2025 is as follows:
| | |
As of December 31, 2025 | |
| | |
RMB | | |
USD | |
| 2026 | |
| 196,474,868 | | |
| 28,095,533 | |
| 2027 | |
| 173,709,845 | | |
| 24,840,177 | |
| 2028 | |
| 145,306,405 | | |
| 20,778,540 | |
| 2029 | |
| 139,440,266 | | |
| 19,939,693 | |
| 2030 | |
| 129,785,268 | | |
| 18,559,046 | |
| Thereafter | |
| 698,704,398 | | |
| 99,913,400 | |
| Total future lease payments | |
| 1,483,421,050 | | |
| 212,126,389 | |
| Less: imputed interest | |
| 266,282,963 | | |
| 38,077,957 | |
| Total operating lease liabilities | |
| 1,217,138,087 | | |
| 174,048,432 | |
|