祥源控股集团再现大动作！6月2日，港交所发布公告称，祥源控股集团以22.95亿港元战略投资港交所 主板上市公司海昌海洋公园（02255.HK）。此番交易若成功推进，祥源将成为海昌海洋公园的控股股 东。 祥源控股集团此次战略投资海昌海洋公园，将实现"山岳+海洋"的资源互补，构建覆盖自然风光、主题 娱乐、休闲度假、文化体验等于一体的全域旅游生态。 业务布局版图方面，若能顺利推进，祥源控股集团将新增辽宁、河南以及重庆三个省市，完成对国内十 七个省市的产业布局，北京、上海等一线城市，以及三亚、大连、烟台等海边城市，在资源、客群、营 销等方面的互补，将为祥源控股集团"山海联动"全新文旅版图提供坚实基础。同时，依托双方既有的海 外项目投资和IP全球化布局，以及更加国际化的资本平台加持，也将为祥源国际化战略布局按下"加速 键"，进而为推进"国内50+国际50"旅游目的地布局迈出实质性步伐。 据了解，祥源控股集团自2008年涉足文旅产业以来，已在全国14个省市布局40余个文旅项目，覆盖世界 遗产6处、国家5A级景区10处、4A级景区16处，形成了以"大湘西""大黄山""大南岭"为核心的旅游目的 地集群。 目前，祥源控股集团在 ...

Group 1 - The tourism market is experiencing a recovery, but there are complaints from two groups: workers traveling during holidays facing high costs and overcrowding at popular destinations [1][2] - Despite the challenges, the travel enthusiasm continues, with Ctrip reporting a 23% year-on-year increase in domestic travel bookings during the Dragon Boat Festival [3] - The overall spending on tourism has increased, which is generally positive for tourism-related companies [4] Group 2 - However, many scenic tourism companies are struggling financially, with only four out of 18 listed companies showing growth in both revenue and profit for 2024 [6][13] - Guilin Tourism, a major player, reported a net loss of 204 million yuan in 2024, a staggering decline of 1830.7% year-on-year, despite high visitor numbers [8][9] - The trend of increasing visitors leading to greater losses is noted, with some companies facing severe financial difficulties [18] Group 3 - The financial struggles of tourism companies are attributed to various factors, including a decline in visitor numbers for natural scenic spots and increased competition from new attractions [22][29] - For instance, Zhangjiajie saw a drop in visitors from nearly 80 million in 2019 to 35.7 million in 2024 [24] - Many natural scenic companies are facing challenges due to low repeat visitor rates and declining ticket prices, impacting their revenue [29] Group 4 - Theme park companies like Haichang Ocean Park are also experiencing revenue declines despite increased visitor numbers, with ticket revenue dropping from 903 million yuan in 2023 to 895 million yuan in 2024 [36] - The overall revenue for Haichang Ocean Park decreased by 0.13% due to the impact of consumer spending trends [37] - Even companies like Songcheng Performing Arts, which reported growth, are facing challenges with core project revenues declining significantly [39] Group 5 - Some companies are successfully adapting to the changing market by diversifying their offerings and focusing on new projects, such as Songcheng Performing Arts, which saw a 25.49% increase in revenue in 2024 [43] - The company has shifted its focus to popular tourist cities and lower-tier markets, resulting in significant revenue growth from new projects [45] - Innovative experiences and interactive projects are becoming essential for attracting visitors, as seen with the success of the Laojieling scenic area [54][56]

Company Overview - Haichang Ocean Park Holdings Ltd. operates seven marine culture-based tourism projects across China[2]. - The company aims to enhance visitor experience and diversify into tourism and leisure services, as well as IP operations[2]. - Haichang has been listed on the Hong Kong Stock Exchange since March 13, 2014, and is included in multiple Hang Seng Indexes[2]. - The group focuses on delivering high-quality culture-based tourism and leisure products to meet consumer demand[3]. - The company is committed to creating a fun environment filled with "Dream, Love, Joy" for its consumers[3]. - Haichang's financial summary for the past five years is available for review, indicating its growth trajectory[12]. - The company has a strong presence in the emerging market indexes, including MSCI and FTSE[2]. - Haichang is expanding its business model to include integrated oceanic culture-based tourism and leisure services[2]. - The group is focused on improving its product offerings in theme parks while exploring new market opportunities[2]. Financial Performance - For the year ended December 31, 2023, the company reported revenue of RMB 1,816,842, a significant increase from RMB 792,988 in 2022, representing a growth of 129%[13]. - The gross profit for 2023 was RMB 457,455, compared to a gross loss of RMB 278,728 in 2022, indicating a turnaround in profitability[13]. - The company recorded a loss before tax of RMB 186,104 for 2023, an improvement from a loss of RMB 1,418,389 in 2022[13]. - Total assets as of December 31, 2023, were RMB 11,522,744, a slight increase from RMB 10,210,925 in 2022[13]. - For the year ended December 31, 2024, the Group's revenue increased by approximately 0.1% to RMB 1,818.4 million from RMB 1,816.8 million in 2023[35]. - Revenue from park operations amounted to RMB 1,685.2 million for the year ended December 31, 2024[43]. - Ticket sales decreased to RMB 895.2 million in 2024 from RMB 902.8 million in 2023, reflecting a decline of approximately 0.6%[36]. - In-park spending increased to RMB 571.3 million in 2024 from RMB 565.7 million in 2023, showing a growth of approximately 1.0%[36]. - Overall gross profit decreased to approximately RMB 419.0 million in 2024 from approximately RMB 457.5 million in 2023, with a gross profit margin of approximately 23.0%[103]. - The Group recorded a loss for the year of approximately RMB 749.5 million in 2024, compared to a loss of approximately RMB 181.9 million in 2023[115]. - Adjusted EBITDA profit decreased by approximately 67.3% to RMB 165.7 million in 2024 from approximately RMB 507.5 million in 2023[122]. Attendance and Visitor Experience - The Shanghai Haichang Ocean Park achieved a single-day attendance record of 52,000, maintaining its position among the top domestic theme parks[16]. - The Zhengzhou Haichang Ocean Park recorded a single-day attendance of 38,000, showcasing strong operational performance throughout the year[17]. - The Group's parks recorded a total admission attendance of approximately 10.79 million, representing an increase of 16.1% compared to the corresponding period of 2023[43]. - During the Spring Festival, admission attendance at the Shanghai Park reached 270,000, with a single-day peak of 52,000 visitors[58]. - Zhengzhou Park achieved over 165,000 admissions during the May Day Holiday, with a peak single-day attendance of 38,000[64]. Project Developments - The Phase II Project of Shanghai Park is expected to officially open in 2026, while the Phase II Project of Zhengzhou Park aims for a 2025 opening[16][17]. - The OAAS business made significant progress, with the Beijing Project completing land acquisition and the Fuzhou Project being led by a local state-funded company[21]. - The Phase II Project of Zhengzhou Park is planned to cover approximately 76,000 sq. m. and aims to commence operations in 2025, featuring 21 structures and 8 large-scale rides[67]. - The Beijing Haichang Ocean Park Project will have a total construction area of approximately 150,000 sq. m. with an expected investment of around RMB 4.2 billion, aiming for trial operations in the first half of 2027[71]. - The Fuzhou Haichang Ocean Park Project is expected to complete design plans by 2025 and commence construction in 2026, with local state-funded companies leading investment[75]. - The company is advancing projects under an asset-light model, including Haichang IP Park in Ningbo and Saudi Arabia Haichang Ocean Park[76]. - The opening of Shanghai Park Phase II and Zhengzhou Park Phase II in the next two years is expected to provide definite support for performance growth[90]. - Several new theme park projects are planned, including the Zhengzhou Haichang Ocean Park Phase II in 2025 and the Shanghai Park Phase II in 2026[93]. IP Operations and Marketing - The company plans to expand its IP operations by introducing internationally renowned IPs and establishing themed retail stores in multiple cities[22]. - The Group actively introduced influential intellectual properties (IPs) to enhance visitor experience and product competitiveness[32]. - The company aims to develop a world-class IP operation platform, integrating globally influential IPs into various entertainment and consumption venues[79]. - The company is focusing on the development of IP hotels and exploring various forms of IP products, including themed pavilions and pop-up events[83]. - The Douyin platform has become the largest online sales channel for the company, with major live stream sessions ranking Top 1 in the National Hotel and Tourism Industry[49]. Governance and Management - The company has established a robust governance structure with various committees overseeing risk management and corporate governance[6]. - The management team is experienced in both domestic and international financial institutions, enhancing the company's investment strategies[167]. - The board includes independent directors responsible for providing independent judgment and supervision to the board[162]. - The company has a strong focus on strategic planning and compliance, with key directors overseeing these areas[160]. - The appointment of independent directors enhances the board's ability to provide independent judgment and oversight[185][187]. Future Outlook - Looking ahead, the company anticipates benefiting from favorable policies and consumption recovery, with several projects entering the harvesting period from 2025[25]. - The Chinese government's policies to stimulate cultural and tourism consumption are expected to create unprecedented development opportunities for the industry[86]. - The Group's strategic initiatives are designed to seize industry opportunities and achieve sustainable growth, delivering returns to shareholders[94]. - The Group aims to enhance its core competitiveness by integrating internationally renowned IPs into various leisure and entertainment sectors[90]. Employee and Financial Health - The Group had a total of 3,267 full-time employees as of December 31, 2024, a reduction of 12.3% from 3,725 employees in 2023[141]. - The Group's total equity as of December 31, 2024, was approximately RMB 1,815.3 million, down 28.0% from RMB 2,518.4 million in 2023[128]. - The net gearing ratio increased to approximately 329.4% as of December 31, 2024, compared to 182.5% in 2023[129]. - The Group's cash and bank deposits were approximately RMB 64.7 million as of December 31, 2024, a significant decrease of 96.2% from RMB 1,702.3 million in 2023[127]. - The Group's lease liabilities increased to approximately RMB 295.3 million as of December 31, 2024, compared to RMB 156.1 million in 2023[128].

Core Viewpoint - In 2024, Haichang Ocean Park reported a slight revenue increase but a significant expansion in losses, indicating operational challenges despite a rise in visitor numbers [1][2][4]. Financial Performance - The company recorded a revenue of approximately RMB 1.818 billion, a year-on-year increase of only 0.1% [2][4]. - Net losses surged from RMB 197 million in 2023 to RMB 740 million in 2024, marking a 275% increase [1][5]. - The adjusted EBITDA fell to RMB 166 million, a decline of about 67.3% from RMB 508 million in 2023 [4][5]. Visitor Statistics - Total visitor numbers reached approximately 10.79 million, reflecting a year-on-year growth of 16.1% [2][4]. - Despite the increase in visitors, park operating revenue slightly decreased by 0.13% to RMB 1.685 billion [2][4]. Revenue Breakdown - Revenue from ticket sales, food and beverage, merchandise, and hotel operations all saw declines, while amusement ride revenue increased by 10.01% [4][5]. - The overall revenue growth was primarily attributed to the full-year operation of the Zhengzhou park, which offset some external revenue declines [4][5]. Cost and Expenses - Administrative expenses rose significantly from RMB 470 million in 2023 to RMB 719 million in 2024, an increase of 53.1% [5]. - The company did not distribute any dividends for the fiscal year ending December 31, 2024, and did not implement any share buyback or equity incentive plans [5]. Financing and Debt Situation - The company faces a net current liability of RMB 2.953 billion, with RMB 497 million in overdue loans [11]. - Haichang Ocean Park has signed a non-binding term sheet with an industry fund for a potential USD 100 million convertible bond to improve liquidity [10][11]. Operational Strategy - The company is transitioning to a light-asset model and is focusing on IP (intellectual property) integration, including the development of Ultraman-themed attractions [6][7]. - Future projects include various IP-themed offerings and the expansion of light-asset projects across multiple locations [7][9]. Industry Context - Haichang's challenges reflect broader issues faced by domestic theme park enterprises, balancing scale expansion with profitability [8][9].

3月30日，海昌海洋公园控股有限公司(股份代号：2255.HK，简称"海昌海洋公园")发布截至2024年12月 31日止年度之经审核综合业绩。 截至2024年12月31日，海昌海洋公园在全国范围内自持并运营7家以"海昌"为品牌、以海洋文化为主的 大中型文旅项目。 新开业的郑州海昌海洋公园成为业绩增长的又一来源，2024年内各小长假表现优秀，五一假期入园超 16.5万人次，单日最高客流量达3.8万人次，各小长假期间酒店均满房。2024年1月，郑州海昌海洋公园 奥特曼主题酒店开业纳客，开业首周酒店客房全部预定满房，打造了"四海昌龘龙腾中国"、"海洋精灵 季"、"极地纳凉节"等节庆活动，并全新推出海洋演艺大秀《豫见海洋》在光影变幻间，实现海洋世界 与河南悠久历史的无缝对接，给游客带来惊艳的视听感受和沉浸观感。 目前，郑州海昌二期力争于2025年开业，建成后中原地区将首次迎来海上霸主"虎鲸";还有全球首创的 多层转马"世纪大转马"、全新升级的旋转塔"环球巨塔"，及国际知名IP主题餐厅等多个全国乃至全球首 创的内容。 2024年，得益于郑州海昌海洋公园贡献全年业绩，以及OAAS项目增加，海昌海洋公园实现整体增长。 20 ...

Core Viewpoint - Haichang Ocean Park's revenue for 2024 is projected to be approximately 1.818 billion RMB, showing a slight increase from 1.817 billion RMB in 2023, while net losses are expected to widen significantly from 182 million RMB in 2023 to about 750 million RMB in 2024, representing a year-on-year increase of 275% [2] Revenue and Financial Performance - The revenue increase is attributed to the full-year operation of Zhengzhou Haichang Ocean Park, with a growth of about 0.1% [2] - The total number of visitors to Haichang Ocean Park in 2024 is estimated to be around 10.79 million, a 16.1% increase compared to 2023 [3] - The park segment's revenue is reported to be 1.685 billion RMB [3] Business Segments and Future Projects - The cultural tourism service segment's revenue grew by 2.8% to 133 million RMB due to the addition of new OAAS projects [4] - Upcoming projects include the second phase of Shanghai Haichang Ocean Park, Beijing Haichang Ocean Park, and others, with the Beijing project expected to begin trial operations in 2027 [5] - The second phase of Shanghai Haichang Ocean Park is projected to open in 2026, covering approximately 140,000 square meters [4][5] Financial Challenges and Debt Management - As of December 31, 2024, Haichang Ocean Park's net current liabilities reached 2.953 billion RMB, with approximately 497 million RMB in bank and other borrowings due [9] - The company is actively seeking financing solutions to improve cash flow, including potential issuance of convertible bonds worth 100 million USD [6][9] - The company has successfully extended about 104 million RMB of bank and other borrowings [9]

Financial Performance - Haichang Ocean Park Holdings Ltd. reported total revenue of RMB 1,818,358,000 for the year ended December 31, 2024, a slight increase from RMB 1,816,842,000 in 2023[4] - The company experienced a gross profit of RMB 418,965,000, down from RMB 457,455,000 in the previous year, indicating a decrease of approximately 8.4%[4] - The net loss for the year was RMB 749,511,000, compared to a net loss of RMB 181,907,000 in 2023, representing an increase in losses of about 313%[4] - The basic and diluted loss per share for the year was RMB 9.12, compared to RMB 2.43 in 2023, representing an increase of approximately 274%[4] - Other income and gains fell to RMB 103,829,000 from RMB 306,497,000, a decrease of about 66%[4] - The company reported a pre-tax loss of RMB 760,919,000 after accounting for unallocated income and expenses[23] - The adjusted EBITDA for the year ended December 31, 2024, was RMB 165.7 million, a decline of approximately 67.3% from RMB 507.5 million in 2023, attributed to a decrease in park revenue and other income[77] - The group reported a net loss of RMB 749,511,000 for the year ended December 31, 2024[98] Expenses and Liabilities - Administrative expenses rose significantly to RMB 719,290,000 from RMB 469,794,000, marking an increase of approximately 53.1%[4] - Current liabilities increased to RMB 3,440,618,000 from RMB 2,915,502,000, which is an increase of approximately 18%[7] - The company's total equity decreased to RMB 1,815,300,000 from RMB 2,518,362,000, indicating a decline of about 28%[7] - Approximately RMB 496,640,000 of bank and other borrowings were due and unpaid during the year, with RMB 66,720,000 repaid subsequently[12] - The company's current liabilities net amount to RMB 2,952,919,000 as of December 31, 2024[98] Revenue Breakdown - The company generated total revenue of RMB 1,818,358,000, with RMB 1,685,242,000 from the park operations segment[23] - Revenue from customer contracts for the year 2024 was RMB 1,785,178 thousand, compared to RMB 1,791,557 thousand in 2023, indicating a decrease of 0.36%[27] - The revenue breakdown for 2024 shows ticket sales at RMB 895,153 thousand, food and beverage sales at RMB 244,358 thousand, and hotel operations revenue at RMB 185,586 thousand[27] - Revenue from park operations decreased by approximately 0.13% to RMB 1,685.2 million in 2024 from RMB 1,687.4 million in 2023, accounting for 92.7% of total revenue[67] - Revenue from cultural tourism services and solutions increased by approximately 2.8% to RMB 133.1 million in 2024 from RMB 129.5 million in 2023, driven by an increase in solution projects[67] Assets and Borrowings - The total non-current assets decreased to RMB 9,851,854,000 from RMB 8,804,621,000, reflecting a growth of about 11.9%[6] - The company’s total borrowings decreased to RMB 5,898,417,000 in 2024 from RMB 6,142,868,000 in 2023, reflecting a reduction in debt[46] - The total asset value was RMB 11,522,744 thousand, with total liabilities of RMB 9,004,382 thousand[24] - The total equity as of December 31, 2024, was approximately RMB 1,815.3 million, a decrease from RMB 2,518.4 million in 2023, while total interest-bearing bank and other borrowings amounted to approximately RMB 5,748.4 million[80] Operational Highlights - The group reported a total of approximately 10.79 million park visitors for the year ending December 31, 2024, representing a 16.1% increase compared to the same period in 2023[52] - The newly opened Zhengzhou Park is expected to contribute to revenue starting in the second half of 2023 and achieve full-year operations in 2024[52] - Shanghai Park ranked among the top 20 theme parks in the Asia-Pacific region according to the 2023 Global Theme Park and Attractions Attendance Report by AECOM and TEA[54] - The Shanghai Park's Ultraman-themed hotel achieved an occupancy rate exceeding 70% in 2024, with peak holiday periods reaching 100%[55] - The company has been operating 7 cultural tourism projects as of December 31, 2024, maintaining its operational footprint[51] Future Plans and Investments - The company is actively seeking new investment and business opportunities to achieve operational profitability and positive cash flow[16] - The Beijing Haichang Ocean Park project is expected to have a total investment of approximately RMB 4.2 billion and aims to start trial operations in the first half of 2027[59] - The Fuzhou Haichang Ocean Park project is projected to begin construction in 2026, following the signing of a strategic cooperation framework agreement in early 2024[60] - The company plans to open the Zhengzhou Haichang Ocean Park Phase II in 2025 and the Shanghai Park Phase II in 2026, which are expected to provide certainty for revenue growth[64] - The company aims to establish an international IP operation platform by integrating IP commercialization with various entertainment scenarios, including theme parks and lifestyle hotels[61] Governance and Compliance - The independent auditor issued an unqualified audit opinion but noted significant uncertainty regarding the group's ability to continue as a going concern[96] - The group has adopted the standard code of conduct for securities trading by directors as per the listing rules[91] - The audit committee consists of three independent non-executive directors, with Mr. Zhu Yuchen as the chairman[92] - The group has appointed Guowei CPA as the auditor effective December 6, 2024, following the resignation of Ernst & Young[94] - The financial statements have been prepared in accordance with International Financial Reporting Standards[97]

据"北京发布"消息，2025年北京城市副中心将再添多个重大文旅项目，包括环球主题公园二三期、顶点 公园、海昌海洋公园等项目建设，"湾里"商业项目开业。 据相关负责人介绍，北京环球影城副中心文化旅游区已取得一系列阶段性成果，"湾里"项目计划2025年 下半年建成开业。 早在2024年2月1日，北京市通州区文旅局副局长盖畅曾表示，环球影城主题公园已成为国内主题公园流 量之王，顺利进入旅游人数、营业收入增长快速道。通州区2023年文体娱乐业实现增加值同比增长 37.3%，连续两个季度增幅超30%。目前正加紧环球影城二期、三期建设，三期建成后每年将达到3000 万人流量。 "湾里"项目定位为超级商业娱乐综合体，位于度假区核心区内，紧邻环球度假区，总建筑面积约16万平 方米，地上4层、地下2层。其中的王府井welltown建成开放后，将是北京最大的奥特莱斯商业中心，计 划引入国内外知名品牌500余个。 另外，在环球影城强势IP的带动下，有更多知名文旅产业选择在北京副中心文旅区发展，包括顶点公 园、海昌海洋公园等项目。两个项目将于2026年建成开放。 北京海昌海洋公园项目是北京市自2000年后唯一一个新建的大型海洋主题公 ...

Financial Performance - Revenue increased by 15% year-over-year, driven by strong sales in the North American market [1]. - Net profit margin improved to 12%, up from 10% in the previous quarter [2]. - Operating expenses rose by 8%, primarily due to increased marketing and R&D investments [3]. Market Expansion - The company successfully entered the European market, with initial sales exceeding expectations [4]. - A new distribution center was opened in Asia to support growing demand in the region [5]. - Strategic partnerships were formed with local retailers to enhance market penetration [6]. Product Development - Launched three new products in the tech segment, which contributed to 20% of total revenue [7]. - R&D spending increased by 10% to accelerate innovation and product differentiation [8]. - Customer feedback on the new product line has been overwhelmingly positive [9]. Operational Efficiency - Implemented new supply chain management software, reducing logistics costs by 5% [10]. - Streamlined manufacturing processes, resulting in a 7% increase in production output [11]. - Employee training programs were expanded to improve operational efficiency and reduce errors [12]. Customer Satisfaction - Customer retention rate improved to 85%, up from 80% last year [13]. - Net Promoter Score (NPS) increased by 10 points, reflecting higher customer satisfaction [14]. - Enhanced customer support services led to a 15% reduction in complaint resolution time [15]. Strategic Initiatives - Announced a new sustainability initiative aimed at reducing carbon emissions by 20% over the next five years [16]. - Acquired a smaller competitor to expand market share and diversify product offerings [17]. - Board approved a new five-year strategic plan focusing on digital transformation and global expansion [18]. Financial Health - Total assets grew by 12%, driven by increased investments in property and equipment [19]. - Debt-to-equity ratio improved to 0.5, down from 0.7, indicating stronger financial stability [20]. - Cash flow from operations increased by 18%, providing more liquidity for future investments [21].

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 799,801,000, an increase of 6.8% compared to RMB 748,727,000 for the same period in 2023[2] - Gross profit decreased to RMB 194,872,000, down 4.9% from RMB 202,937,000 year-on-year[2] - Net loss for the period was RMB 87,193,000, compared to a net loss of RMB 84,711,000 in the previous year, reflecting a slight increase in losses[2] - The company reported other income and gains of RMB 96,297,000, up 47.9% from RMB 65,120,000 in the prior year[2] - For the six months ended June 30, 2024, total revenue was RMB 799,801 thousand, an increase from RMB 748,727 thousand for the same period in 2023, representing a growth of approximately 6.8%[14] - The operating segment "Park Operations" generated revenue of RMB 735,866 thousand for the six months ended June 30, 2024, compared to RMB 697,599 thousand for the same period in 2023, reflecting an increase of about 5.5%[14] - The operating segment "Operating Services" reported a profit of RMB 9,649 thousand for the six months ended June 30, 2024, compared to RMB 7,096 thousand for the same period in 2023, showing an increase of approximately 36.0%[14] - The pre-tax loss for the six months ended June 30, 2024, was RMB 83,408 thousand, an improvement from a pre-tax loss of RMB 96,556 thousand for the same period in 2023, indicating a reduction in losses of about 13.5%[14] - The company reported a net loss attributable to equity holders of RMB (84,226,000) for the six months ended June 30, 2024, compared to a loss of RMB (88,990,000) for the same period in 2023[26] - The company’s income tax expense for the six months ended June 30, 2024, was RMB 3,785,000, compared to an income tax credit of RMB (11,845,000) for the same period in 2023[24] - The company reported a total impairment loss of RMB (5,448,000) for the six months ended June 30, 2024, compared to an impairment loss of RMB 807,000 for the same period in 2023[19] - Overall gross profit was approximately RMB 194.9 million for the six months ended June 30, 2024, with a gross profit margin of 24.4%, down from RMB 202.9 million and 27.1% in the same period of 2023[44] - The gross profit margin for park operations decreased from 28.1% to 25.2% due to the impact of new project openings[45] Assets and Liabilities - Total non-current assets as of June 30, 2024, amounted to RMB 8,966,087,000, an increase from RMB 8,804,621,000 at the end of 2023[5] - Current liabilities totaled RMB 2,394,980,000, a decrease from RMB 2,915,502,000 at the end of 2023[5] - The total assets as of June 30, 2024, amounted to RMB 11,163,031 thousand, a decrease from RMB 11,522,744 thousand as of December 31, 2023, indicating a reduction of approximately 3.1%[15] - The total liabilities as of June 30, 2024, were RMB 8,729,532 thousand, down from RMB 9,004,382 thousand as of December 31, 2023, representing a decrease of about 3.0%[15] - The total trade payables decreased from RMB 1,401.7 million as of December 31, 2023, to RMB 1,258.4 million as of June 30, 2024[28] - The current portion of trade payables decreased from RMB 735.6 million as of December 31, 2023, to RMB 648.4 million as of June 30, 2024[28] - As of June 30, 2024, the company's current assets were approximately RMB 2,196.9 million, down from RMB 2,718.1 million as of December 31, 2023[52] Investments and Future Projects - The company has secured additional bank loans of RMB 50,000,000 maturing after June 30, 2025, to support operations[9] - Anticipated government subsidies of RMB 214,500,000 are expected to be granted before June 30, 2025, to support park operations[9] - The company has unutilized bank and credit facilities totaling RMB 2,163,000,000, valid until after June 30, 2025[9] - The company is actively seeking new investment and business opportunities to achieve operational profitability and positive cash flow[9] - The company plans to expand the Shanghai Haichang Ocean Park with a second phase project, covering approximately 140,000 square meters, expected to open in 2025[33] - The Beijing Haichang Ocean Park project, with a total construction area of approximately 150,000 square meters and an estimated total investment of RMB 4.2 billion, is set to become the first international large-scale marine cultural tourism project in Beijing's sub-center[35] - The second phase of Zhengzhou Haichang Ocean Park is expected to open in 2025, with the project being fully owned and operated by Haichang[40] - Future projects include the Fuzhou Haichang Ocean Park and Ningbo Qianwan New Area Haichang IP Park, both expected to open by 2028[40] - The company plans to open the Jin Qiao Haichang Penguin Resort Hotel in July 2024, which has already pre-sold over 20,000 rooms[36] - The Dalian Forest Zoo Ultraman Ice World is set to open in July 2024, marking the first Ultraman ice world globally[38] - The company is exploring innovative financing models for existing heavy asset projects to support rapid growth and asset appreciation through operational empowerment[41] Operational Highlights - The total number of visitors to the parks reached approximately 4.635 million for the six months ended June 30, 2024, an increase of 21.2% compared to the same period in 2023[31] - The group operates 7 theme parks, with the Zhengzhou Haichang Ocean Park contributing to revenue since its opening in the second half of 2023[31] - The online sales channel has significantly improved, with Douyin platform's GMV exceeding RMB 100 million, a year-on-year increase of over 50%[32] - The occupancy rate of the Ultraman-themed hotel in Shanghai exceeded 70%, with peak holiday periods achieving 100% occupancy[33] - Zhengzhou Park opened as a new growth driver, with over 165,000 visitors during the May Day holiday and a peak daily attendance of 38,000[34] - Revenue from customer contracts for the park operations segment was RMB 716,756,000, while the operation service segment generated RMB 63,935,000, contributing to the total revenue[20] - Revenue from cultural tourism services and solutions rose by approximately 25.0% to RMB 63.9 million for the six months ended June 30, 2024, driven by the opening of Changsha Haichang Xiangjiang Happy Ocean Park in December 2023[43] Governance and Compliance - The company has adopted the Corporate Governance Code as per the Hong Kong Stock Exchange's Listing Rules and has complied with its provisions for the six months ending June 30, 2024, except for the separation of the roles of Chairman and CEO[60] - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited interim financial information for the six months ending June 30, 2024[62] - The company emphasizes that forward-looking statements involve risks and uncertainties, and actual results may differ significantly from those projected[63] - The company expresses gratitude to management, employees, shareholders, business partners, clients, and professional advisors for their support and trust, contributing to a promising future[65] - The company has confirmed that all directors have strictly adhered to the standard code of conduct for securities trading during the six months ending June 30, 2024[61] - The Chairman and CEO, Mr. Qu Naijie, believes that holding both roles enhances the efficiency of strategy formulation and execution[60] - The company’s interim results announcement is available on the Hong Kong Stock Exchange and the company’s website[64] - The company did not provide specific financial performance metrics or user data in the disclosed documents[63] - The company plans to continue focusing on corporate governance to protect shareholder interests and enhance corporate value[60] Expenses - Total sales cost increased by approximately 10.8% to RMB 604.9 million for the six months ended June 30, 2024, from RMB 545.8 million for the same period in 2023[44] - Selling and marketing expenses rose by approximately 16.5% to RMB 26.7 million for the six months ended June 30, 2024, from RMB 23.0 million for the same period in 2023[47] - Administrative expenses decreased by approximately 11.5% to RMB 166.9 million for the six months ended June 30, 2024, compared to RMB 188.6 million for the same period in 2023[48] - The company did not declare any interim dividends for the six months ended June 30, 2024, consistent with the previous year[25] - No interim dividend has been proposed for the six months ending June 30, 2024, consistent with the previous period ending June 30, 2023[63]