H World Group Limited
The story behind its Baa2 rating
Join our analysts as they explore how the company drives growth and maintains a strong credit profile amidst a challenging consumer backdrop.
Discussion topics include:
- China's lodging sector consolidation expands addressable market
- Scale, technology and brand diversity strengthen competitiveness
- Asset-light model underpins higher margins and lower leverage
- Prudent financial policy and credit buffers mitigate competitive pressures
Speakers
Stephanie Lau
Senior Vice President, Corporate Finance Group
Moody's Ratings
Ying Wang
Vice President, Corporate Finance Group
Moody's Ratings
Ashley Qi
Senior Rating Associate
Moody's Rating
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Stephanie Lau is a Senior Vice President for the Corporate FinanceGroup in Asia. Based in Hong Kong, she covers mainly a portfolio of Hong Kong property companies. She has also covered other non-property sectors, including gaming, education, manufacturing, and logistics.
Stephanie has over fifteen years of experience as an equity research analyst. Prior to joining Moody’s in 2015, Stephanie was a Vice President at Mirae AssetSecurities in Hong Kong, where she was the Lead Analyst for the China property sector.
Stephanie has also worked as a sell-side equity analyst at MainFirst Securities in Hong Kong, CLSA Asia Pacific Markets in Shanghai, and Lehman Brothers in New York.
Stephanie holds an MA from the Paul H. Nitze School of Advanced InternationalStudies at Johns Hopkins University, where she specialized in China Studies and International Economics. She also holds a BA in International Studies from JohnsHopkins University.
Ying Wang is a Vice President within Moody’s Corporate Finance Group. Based in Hong Kong, Ying covers a portfolio of consumer and internet companies across China.
Prior to joining Moody’s, Ying worked in Hong Kong as a Lead Equity Research Analyst at J.P. Morgan Securities (Asia Pacific) Limited, BNP Paribas and Standard Chartered Bank, focusing on a wide range of sectors including oil & gas, utilities, environmental protection and renewable energy.
Ying started his career as a journalist at Bloomberg and China Daily News Group, covering the energy, commodities and industrial sectors. He has also worked for a major Chinese oilfield service company in Beijing.
Ying holds an MBA in Finance from INSEAD Business School in France and Singapore, and a BA with honors from Xi’an International Studies University.
Ashley Qi is a Senior Ratings Associate with the Corporate Finance Group at Moody's Ratings, based in Hong Kong.
She covers a portfolio of Chinese corporates across a range of sectors, including internet, technology, automotive and chemicals.
Before joining Moody's, Ashley was a Senior Auditor at Deloitte Hong Kong, where she focused on companies in the services, consumer products and technology industries.
Ashley holds a Bachelor's degree in Accounting from Shanghai University of Finance and Economics and a Master's degree from the Hong Kong University of Science and Technology. She is a member of the Hong Kong Institute of Certified Public Accountants (HKICPA)