Haichang Ocean Park Holdings

Overview

Haichang Ocean Park Holdings Ltd. is known for its marine oceanariums, aquariums and theme parks in China.

It currently owns six Haichang Ocean Park theme parks, in addition to a non-gated entertainment district in Sanya, an amusement park in Dalian, an aquarium in Yantai, a water park in Chongqing and several indoor animal attractions (In-Mall brand) across China.

Adjacent to its oceanariums, theme park and attraction projects, Haichang Holdings develops and holds ancillary commercial properties, which provide other revenue streams through property sales and rental income.

In 2018, Haichang Holdings officially launched its own IP, the “Seven Guardians,” which comprises seven anime animal characters. The IP has been gradually applied in various fields of the park, such as themed packaging, float parade, puppet show, retail store, iconic sculptures, guide system, 4D film, theme restaurant and cuisine, hotel, and children’s entertainment area, among others. The group also develops and offers animation storylines, books, stage show and in-park parades based on the Seven Guardians.

With the goal to increase profit margin and reduce debt, in recent years, Haichang has shifted its focus from investing and owning new parks (asset-heavy business) to asset-light consultancy businesses, which provides consultancy services, management contract, IP licensing, product development and other services for attractions invested and developed by its clients.

Haichang started testing its first non-gated project in Sanya, Hainan Province – the Sanya Haichang Fantasy Town opened in January 2019. Unlike other Haichang parks that features Pay-one-price pricing, Sanya Fantasy Town offers pay-as-you-go pricing model for its over 40 attractions and shows. Additionally, the Sanya project offers extensive Food & Beverage and Retail programs.

In October 2021, Haichang announced selling 100% equity of its Wuhan, Chengdu, Tianjin and Qingdao parks, as well as 66% equity of its Zhengzhou project to MBK Partners, a private equity company. Haichang will continue to operate those parks under management agreement with MBK Partners.