Company Overview - As of December 31, 2022, Haichang Ocean Park Holdings Ltd. owned and operated six marine culture-based theme parks and had one theme park under construction[2]. - The company has authorized four additional theme parks to use the "Haichang" brand, expanding its market presence[3]. - Haichang aims to provide a comprehensive tourism experience that includes leisure, entertainment, dining, shopping, and accommodation[2]. - The company continues to deliver oceanic culture and capability products across China, enhancing consumer access to its tourism and leisure offerings[3]. - Haichang's goal is to create a unique environment filled with "dream, love, joy" for visitors, focusing on oceanic culture-based experiences[2]. - The company has been listed on the Main Board of the Hong Kong Stock Exchange since March 13, 2014, indicating its established market presence[3]. Financial Performance - Revenue for 2022 was RMB 792,988,000, a decrease of 67.8% compared to RMB 2,460,200,000 in 2021[10]. - Gross loss for 2022 was RMB 278,728,000, compared to a gross profit of RMB 721,265,000 in 2021[10]. - The company reported a net loss of RMB 1,408,858,000 for 2022, compared to a profit of RMB 834,238,000 in 2021[10]. - Total assets decreased to RMB 10,210,925,000 in 2022 from RMB 11,717,352,000 in 2021[10]. - Cash and cash equivalents were RMB 1,244,633,000 in 2022, down from RMB 3,206,658,000 in 2021[10]. - The Group's revenue decreased to RMB793.0 million for the year ended 31 December 2022, down from RMB2,460.2 million for the year ended 31 December 2021, representing a decline of approximately 67.8%[33]. - The Group recorded a gross loss of RMB278.7 million, an adjusted EBITDA loss of RMB423.2 million, and an adjusted net loss attributable to shareholders of RMB1,059.1 million for the year ended 31 December 2022[33]. Operational Developments - The company aims to enhance its operations through the dual-core strategy of oceanic IP and world-class IP[11]. - The successful implementation of world-class operations has boosted confidence in the company's future performance[11]. - The company plans to expand its tourism and leisure services and solutions output business[11]. - The management team has undergone continuous improvement and maturity, contributing to strategic transformation[11]. - The company is exploring opportunities in cultural tourism REITs[11]. Attendance and Recovery - In the first half of 2022, the theme park segment experienced a sharp decline in admission attendance due to COVID-19, with a significant recovery beginning at the end of 2022[12]. - From January to February 2023, the total admission attendance of the theme park was approximately 1,060,000, representing a recovery rate of approximately 114% compared to the same period in 2019[12]. - The total revenue of the park operation segment for January to February 2023 was approximately RMB 173 million, reflecting a recovery rate of 118% from the same period in 2019[12]. - The Shanghai Park achieved an admission attendance of approximately 580,000 from January to February 2023, with a recovery rate of 151.4% from the same period in 2019[15]. Future Expansion Plans - The Zhengzhou Park is expected to open Phase I in the second half of 2023, with the entire park being 140% the size of the Shanghai Park, including ocean-themed parks and hotels[16]. - The Haichang Jinqiao Penguin Resort Hotel adjacent to the Shanghai Park is set to open in 2024, while Phase II development of the Shanghai Park is expected to open in 2025[15]. - The company plans to diversify its IP portfolio and establish more IP theme pavilions in various parks and crowded areas in 2023[19]. - The company aims to build a leading IP operation platform in China, integrating IPs into theme parks and other entertainment venues[20]. Environmental and Social Responsibility - The company emphasizes environmental, social, and governance (ESG) factors as critical for long-term stable development[73]. - The company has a professional animal conservation team of nearly 1,000 members, actively involved in species protection and rescue operations nationwide[76]. - Since 2015, the company has offered free park visits to families with autism patients during April, receiving thousands of families over the years[82]. Corporate Governance - The company is committed to risk management and corporate governance, with dedicated committees overseeing these areas[7]. - The board consists of nine directors, including three independent non-executive directors, with at least one-third required to retire at the annual general meeting[117]. - The company is focused on maintaining compliance and financial integrity through the expertise of its directors[132]. Management and Leadership - The company has undergone changes in its executive leadership, with Qu Naijie appointed as CEO effective January 5, 2022[5]. - The operational management team is focused on strategic planning and compliance affairs, ensuring alignment with the company's long-term goals[119]. - The management team is dedicated to improving operational efficiency and maximizing shareholder value through effective resource allocation[129]. Strategic Initiatives - The company is actively involved in new product development and technological advancements to enhance its service offerings[130]. - Future outlook includes a commitment to growth through strategic investments and potential acquisitions in the entertainment and tourism sectors[131]. - The management team has emphasized the importance of asset-light strategies, with a goal to increase operational efficiency by 20% over the next two years[146].
海昌海洋公园(02255) - 2022 - 年度财报