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Haichang Ocean Park results and strategy – #1 in marine cultural tourism

Shanghai Haichang Ocean Park Legacy Entertainment

Haichang Ocean Park Holdings Ltd has released annual results for 2018, also unveiling its future strategy and goal to become the “number one marine cultural tourism and leisure band in China”.

Revenue from park operations increased by 7.9 percent to RMB1,745.7 million ($265m), while ticket revenue increased by 7.8 percent to RMB1,274.4 million ($193m). Net profit decreased by 86.3% to RMB40.0 million ($6m).

Haichang Ocean Park has implemented strategic development in the following ways:

  • Further upgrade existing projects and develop them into regional tourism destinations.
  • Commence operation of two new projects as scheduled and run them smoothly.
  • Actively develop the innovative light asset business and speed up in the development of light asset business.

The company has also stated that it’ll continue its efforts in animal conservation, as well as public welfare and science education.

The grand opening of two flagship projects

In November, the Shanghai Haichang Ocean Park – a marine theme park – opened alongside its themed hotel after five years of development and construction. The $795 million theme park was designed by Legacy Entertainment.

In January, the Sanya Haichang Fantasy Town opened. An immersive marine recreation complex, it integrates cultural tourism, leisure and vacation, entertainment experience and innovative business.

The company has built and is operating a total of ten projects in nine cities in China, further consolidating its leading industry position in the market segment.

Upgrading existing theme parks and projects

In January 2018, Tianjin Haichang Polar Ocean Park added a new aquarium to improve exploration in marine popular science.

In the same month, Wuhan Haichang Polar Ocean Park added a new Marine Mozoo World. In May 2018, Chongqing Anping Camping Hotel opened.

In October 2018, the Chongqing Hot Spring product was put into operation and the Chongqing Project started to operate on a whole year basis.

It also improved the storyline of core marine shows and the quality of its theatres.

Projects under construction ran smoothly

The Zhengzhou Haichang Ocean Park project ran smoothly during the review period. It has commenced single structural construction work.

Listed as a key project in Henan Province, it will be developed into an international marine cultural tourism and resort destination.

Business outlook

The company will look to its strategic plan for the next five years, continuing the improvement and upgrading of existing projects.

It also hopes to increase revenue through the development of merchandise, food and drinks, and entertainment, developing its Seven Guardians IP.

With an initial focus on The Shanghai Project, the Group will continue to upgrade its information system.

Haichang will integrate its cross-border resources and creative and innovative capabilities to develop itself as “China’s number one development, operation and service team for creative marine cultural tourism products”.

It was previously revealed that Haichang Ocean Park Holdings has plans to build amusement parks along China’s new silk road trade initiative – the Belt and Road initiative.

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Bea Mitchell

Bea is a journalist specialising in entertainment, attractions and tech with 10 years' experience. She has written and edited for publications including CNET, BuzzFeed, Digital Spy, Evening Standard and BBC. Bea graduated from King's College London and has an MA in journalism.

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