NEWS

 

Revenue of Haichang Ocean Park in 2016 Increased by 16% Core Net Profit Increased by 33.1%

2017-06-01

Revenue of Haichang Ocean Park in 2016 Increased by 16%

Core Net Profit Increased by 33.1%

Non-ticket Business Recorded Rapid Growth

Asset-Light Business Achieved a Well-grounded Breakthrough

Hong Kong, 22 March 2017Haichang Ocean Park Holdings Ltd. (“Haichang Ocean Park” or the “Company”, together with its subsidiaries, the “Group”, Stock Code: 2255), a leading developer and operator of theme parks in China, announced the annual results for the year ended 31 December 2016 (“the Year”).

 

 In 2016, the Group’s operation scale grew steadily with an increasingly optimized revenue structure. Non-ticket business and asset-light business had outstanding performance. During the Year, the total revenue increased by approximately 16.4% to approximately RMB1,649.7 million. Revenue from park operations was approximately RMB1,429.1 million, increased by approximately 10.3% from 2015 (2015: approximately RMB1,295.8 million). The growth was mainly driven by the significant increase of non-ticket revenue, which was approximately RMB359.6 million, increased by approximately 45.8% (2015: approximately RMB246.6 million), the revenue of asset-light business increased by approximately 1,694.8% to approximately RMB42.8 million. During the Year, the Group’s overall profitability continuously increased with the overall gross profit increased by approximately 14.6% to approximately RMB901.4 million (2015: approximately RMB786.5 million) and the core net profit increased by 33.1% year-on-year to approximately RMB224.3 million in 2016.

 

 During the Year, the brand influence of Haichang Ocean Park was further enhanced. Under the core value of “Dream Love Joy”, the Group jointly released ocean themed film with CCTV, also implemented cooperation with certain international renowned movies and animations in the manner of brand placement, brand connectivity and marketing activities. Besides, the Group comprehensively promoted online strategic deployment on the internet, carried out strategic cooperation with Alitrip during the Year, launched O2O experience store and enhanced the brand influence in innovative manners, such as global live streaming and checker experience.

 

 In respect of animal conservation, the Group kept enhancing its core competitiveness proactively advocated the concept of animal protection, successfully bred nine species, 143 large marine and polar animals, making the total animals conserved amounting to nearly 50,000 during the Year. The Group also constructed overseas animal breeding bases in a planned way, marine health products independently researched and developed also obtained milestone achievements that are preliminary equipped with industrialization conditions. Besides, the Group also actively promoted animal conservation through the joint establishment of Yangtze River Biodome (長江生態館) with Fisheries Administration office of Yangtze River under Ministry of Agriculture and cooperated with local fisheries authorities to carry out the protection of rare, peculiar endangered species.

 

 In 2016, Haichang Ocean Park focused on the optimization and upgrade of existing projects under the mode of “scene+” and expedited the research and development and implementation of new entertainment products and new projects with the marine culture theme. During the Year, the Group finished the upgrade and enhancement of the projects in Chengdu, Chongqing, Qingdao, Dalian, Tianjin and so on, which effectively enhanced the quality and attraction of core products of theme parks. At the same time, the Group will continue to innovate and upgrade in-park consumption products, the brand image and types of traditional theme products and catering products will be enhanced and diversified. Besides, adding certain innovative derivative items, optimization of route and project layout also contributed to increase the room for the development of derivative and entertainment items and drive the rapid growth of income from non-ticket business. In respect of ancillary commercial property, the Group consolidated the complementary functions between different business segments, and successfully introduced multi-commercial activities during the period, such as hot spring, comprehensively meeting various needs of tourist, effectively contributed to the development of regional tourism destination.

 

 In 2016, the Group constantly deepened and implemented another strategic development path, marine culture innovation. After almost two years of market exploration and internal adjustment and improvement, the progress of asset-light businesses started to pick up and scale development was realized in 2016. At present, the Group has extended its footprints to the markets of Hebei, Zhejiang, Hunan, Guangxi, Fujian, Guangdong and other provinces with 19 project contracts finalized, amounting to over RMB320 million in aggregate. The marine culture IP platform of the Group has taken shape, the innovation of core independent IP creations “Seven Guardian (七萌團)” and “Midoo” was implemented during the Year, and the Group successfully developed and promoted themed-related products, such as themed movies and picture books, pushed forward a major step in independent IP strategic development.

 

 Mr. Wang Xuguang, Executive Director and Chief Executive Officer of Haichang Ocean Park Holdings Ltd., said, “Along with the continuously deepening transformation of macroeconomic structure and the upgrade of national consumption becoming a trend, the theme park industry has ushered in a golden era of expediting growth. 2016 is the third year after the Group has been listed on the Stock Exchange, which is a year of advancing three strategic objectives of upgrade and enhancement of existing projects, development and construction of new projects and marine cultural innovative business with satisfactory results. Looking ahead, within the existing development strategy framework, the Group will continuously target at improve park touring experience and profit, upgrade and enhance existing projects and develop reginal tourism destination on the basis of ancillary commercial properties.

 

 Meanwhile, the Group will accelerate construction of projects in Shanghai and Sanya while proactively advancing preparatory works for the commencement for operation to ensure the sustainable development in the future. In addition, the Group will actively tap into targeted strategic cities through multiple cooperation modes to further improve the national layout. Besides, the Group will mainly promote the standardization of products and services of management services business, make further efforts to expand new business development ideas in order to increase the revenue from light-asset innovation business.”

 

End

 

About Haichang Ocean Park Holdings Ltd.

Listed on the Main Board of The Stock Exchange of Hong Kong in March 2014, Haichang Ocean Park Holdings Ltd. is the leading developer and operator of theme parks in China. With over a decade of experience in animal breeding and conservation, marine theme park development and operation, the Company has consistently ranked as one of the top ten theme park operators worldwide for consecutive years. The Company’s theme parks provide a one-stop sightseeing, entertainment, leisure, dining and shopping experience to its customers through both the in-park offerings and complementary services offered by the ancillary commercial properties adjacent to the theme parks. The Company currently operates eight theme parks located in Dalian, Qingdao, Tianjin, Yantai, Wuhan, Chengdu and Chongqing respectively, which including six ocean theme parks, one adventure theme park, and one water world. In addition, there are two major flagship projects under construction in Shanghai and Sanya. China’s theme park industry possesses enormous growth potential. For the twelve months ended 31 December 2015, the admission attendance of the eight theme parks of the Group increased to 12.31 million visitors. Haichang Ocean Park has had approximately 100 million visitors since 2002.

 
       
 
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