Core Viewpoint - The current situation for domestic ocean parks in China is increasingly dire, with options limited to either shutting down or being sold off [1][62]. Group 1: Financial Performance and Challenges - The Shenzhen Special Development Group intends to transfer its entire stake in the Jingzhou Xiaomeisha Ocean Park, indicating a complete exit from the project [3][4]. - The Jingzhou Xiaomeisha Ocean Park reported a loss of 8.93 million yuan in the first half of 2025, with total investments nearing 280 million yuan, and losses exceeding the previous year's total within just six months [5][6]. - The financial struggles of the Jingzhou Xiaomeisha Ocean Park are not isolated, as the operator of Hainan R&F Ocean World has recently filed for bankruptcy restructuring [7][8]. Group 2: Industry Trends and Comparisons - The fate of ocean parks across China appears to be interconnected, with various parks facing similar challenges, from Dalian to Jingzhou and Hainan [13][14]. - Many domestic ocean parks are overly reliant on ticket sales from local visitors, lacking diversified revenue streams such as food, merchandise, and repeat visits [30][32]. - The operational model of these parks is flawed, particularly as they depend heavily on local populations, which can lead to unsustainable financial situations when visitor numbers are low [35][39]. Group 3: Future Outlook and Potential Solutions - The industry is witnessing attempts at restructuring, with companies like Tongcheng Holdings acquiring Dalian Shengya and Xiangyuan Holdings taking over Haichang Ocean Park, aiming to integrate these parks into broader tourism ecosystems [58][60]. - Successful international examples, such as Japanese aquariums, demonstrate that smaller, community-focused attractions can achieve financial stability without relying on large-scale government subsidies [54][56]. - The future of domestic ocean parks hinges on their ability to redefine their business models and engage more meaningfully with local communities [62].