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]
海昌海洋公园去年亏损扩至7.5亿，负债高企下计划控成本找融资