Financial Performance - Total revenue for the year ended December 31, 2022, was RMB 792.988 million, a decrease of 67.8% from RMB 2,460.200 million in 2021[2] - The company reported a net loss of RMB 1,408.858 million for 2022, compared to a profit of RMB 834.238 million in 2021, representing a significant decline[2] - Gross loss for the year was RMB 278.728 million, compared to a gross profit of RMB 721.265 million in the previous year[2] - Total comprehensive loss for the year amounted to RMB 1,420.524 million, compared to a total comprehensive income of RMB 830.144 million in 2021[3] - The group reported a net loss of RMB 1,408,858,000 for the year ended December 31, 2022[8] - The overall gross loss for the group was approximately RMB 278.7 million for the year ended December 31, 2022, compared to a gross profit of approximately RMB 721.3 million in 2021, resulting in a gross loss margin of approximately 35.1%[63] - The gross loss from the park operations segment was approximately RMB 285.6 million for the year ended December 31, 2022, primarily due to the impact of recurring pandemic restrictions and a significant decline in revenue[64] - Adjusted EBITDA loss for the year ended December 31, 2022, was approximately RMB 423.2 million, down from a profit of RMB 526.8 million in 2021, mainly due to significant revenue decline caused by the pandemic[72] Assets and Liabilities - Non-current assets decreased to RMB 7,363.545 million as of December 31, 2022, down from RMB 8,119.454 million in 2021[4] - Current assets also declined to RMB 2,847.380 million from RMB 3,597.898 million in the previous year[4] - Total liabilities increased to RMB 4,893.619 million in 2022, compared to RMB 4,526.200 million in 2021[5] - The company's equity attributable to owners of the parent decreased to RMB 2,623.757 million from RMB 3,766.912 million in 2021[6] - Total assets as of December 31, 2022, amounted to RMB 10,210,925,000, with segment assets for park operations at RMB 7,316,913,000[17] - The total liabilities were RMB 7,534,598,000, with segment liabilities for park operations at RMB 51,928,000[17] - The total amount of secured loans as of December 31, 2022, was RMB 5,267.73 million, slightly up from RMB 5,254.33 million in 2021[42] - The group’s bank and other borrowings amounted to RMB 4,043.327 million as of December 31, 2022, up from RMB 2,887.835 million in the previous year[43] Revenue Breakdown - For the year ended December 31, 2022, total revenue was RMB 792,988,000, with the park operations segment contributing RMB 748,941,000[17] - Revenue from park operations in 2022 was RMB 725,170 thousand, down 58.5% from RMB 1,748,190 thousand in 2021[21] - Total revenue from customer contracts for 2022 was RMB 769,217 thousand, a decrease of 67.7% from RMB 2,384,228 thousand in 2021[20] - Ticket sales revenue for 2022 was RMB 348,340 thousand, a decline of 69.9% compared to RMB 1,161,227 thousand in 2021[22] - Revenue from food and beverage sales in 2022 was RMB 135,851 thousand, down 40.4% from RMB 228,146 thousand in 2021[22] - The total rental income from investment properties in 2022 was RMB 23,771 thousand, a decrease of 68.7% from RMB 75,972 thousand in 2021[20] Cash Flow and Financial Position - The company's cash and cash equivalents, net of pledged deposits, were RMB 1,225,695 thousand as of December 31, 2022, compared to RMB 3,202,605 thousand in 2021[36] - The company reported a net cash position of RMB 1,241,317 thousand as of December 31, 2022, down from RMB 3,209,862 thousand in 2021[37] - The net debt ratio increased to approximately 150.3% as of December 31, 2022, compared to 53.5% in 2021, primarily due to cash depletion from operational losses and capital expenditures[78] Operational Insights - The company operates theme parks, property development, and hotel operations primarily in China[7] - The company plans to continue its focus on theme park development and management services in the future[7] - The group operates 6 marine-themed parks and has one park under construction, aiming to enhance visitor experiences and expand into cultural tourism services[45] - The company plans to expand the Shanghai park with a second phase project, including a hot spring hotel and marine exploration center, expected to open in 2025[50] - The Zhengzhou Haichang Ocean Park is in the final construction stages and is expected to open in the second half of 2023, with a total area exceeding 40% of the Shanghai park[51] - The company launched the world's first Ultraman-themed entertainment area in Shanghai on July 30, 2022, as part of its IP strategy[50] - The company is actively exploring new technologies, including biotechnologies and AI, to enhance visitor experiences and operational efficiency[51] Future Outlook - The group is actively seeking new investment and business opportunities to achieve operational profitability and positive cash flow[8] - The company aims to become a leading IP operation platform in China, having secured partnerships with influential IPs such as "Ultraman" and "The Monkey King" for merchandise development[54] - The company plans to establish "100 ocean parks" within 3 to 5 years to cater to the large family leisure market in China[52] - The company anticipates significant revenue and profit contributions from new business growth, including the ongoing development of parks in Sanya and Chongqing[55] Corporate Governance and Compliance - The financial statements are prepared in accordance with International Financial Reporting Standards and reflect historical cost conventions[10] - The company has adopted revised International Financial Reporting Standards for the year ended December 31, 2022[13] - The board does not recommend any dividend payment for the year ended December 31, 2022[88] - The company has adopted the corporate governance code and has complied with its provisions, with some exceptions noted[84] - The audit committee, consisting of three independent non-executive directors, reviewed the annual performance announcement for the year ended December 31, 2022[87]
海昌海洋公园(02255) - 2022 - 年度业绩