Core Viewpoint - The company, Jinma Amusement (300756), announced on October 31 that domestic theme parks and amusement parks are entering a period of equipment renewal driven by factors such as equipment expiration, standard upgrades, IP updates, and technological advancements [1] Group 1: Industry Trends - Domestic tourism projects are gradually undergoing equipment upgrades to meet operational needs and enhance overall quality and market competitiveness [1] - The equipment renewal policy has identified sightseeing facilities, amusement facilities, and immersive experience equipment as key support areas, providing important guidance and policy support for industry upgrades and improved consumer experiences [1] Group 2: Future Opportunities - The orderly implementation of specific support policies for equipment renewal is expected to accelerate the domestic equipment's replacement of imports, presenting significant opportunities for the company and the industry [1]

Core Viewpoint - The company, Jinma Amusement (300756), indicates that domestic theme parks and amusement parks are entering a period of equipment upgrades driven by factors such as equipment expiration, standard enhancements, IP updates, and technological advancements [1] Industry Summary - Domestic theme parks and amusement parks are gradually undergoing equipment renewal cycles to meet operational needs and enhance overall quality and market competitiveness [1] - The equipment update policy explicitly supports sightseeing facilities, amusement facilities, and immersive experience equipment, providing important guidance and policy support for industry quality upgrades and accelerating import substitution [1] - The orderly implementation of specific support policies for equipment updates is expected to facilitate the acceleration of domestic equipment replacing imports, presenting significant opportunities for the company and the industry [1]

Core Insights - The 2025 IAAPA Expo Asia is a significant event for the amusement and attractions industry, taking place in Shanghai from July 1 to July 3, 2025, with 350 exhibitors and covering 8,500 square meters [1][2] - The event aims to foster deep communication among participants and promote long-term industry connections, featuring over 20 educational programs [2] - The expo marks the return of IAAPA to Shanghai after six years, highlighting the city's growing importance as a hub for the amusement and attractions market [3][4] Industry Growth - The number of registered buyers and attendees for the expo has increased by 40% compared to 2024, indicating a healthy growth trend in China's amusement and attractions market [4] - The Chinese market currently has 4,437 large attractions and amusement parks, with an expected compound annual growth rate of 19% over the next three years [5] - The average per capita spending in the Asia-Pacific region is projected to grow by 4.6% over the next three years, reflecting a positive outlook for the industry [5] Policy Support - The Chinese government is actively supporting the industry through policies aimed at upgrading and replacing equipment in the cultural and tourism sectors, with a focus on attractions and amusement facilities [4] - The initiatives aim to maintain stable investment growth and enhance service quality in the cultural and tourism sectors by 2027 [4] Event Highlights - The opening ceremony featured a culturally rich performance that set the tone for creativity and innovation, reflecting the expo's core themes [2][3] - The event serves as a platform for sharing goals, visions, and innovations within the industry, showcasing Shanghai's unique charm as a host city [6]