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Ocean Park’s operating loss doubled to 1.17 billion yuan during the epidemic, the worst performance ever

2020-12-16T07:22:34.875Z


Ocean Park’s financial situation is poor. At the end of May this year, it received an injection of 5.4 billion yuan for debt repayment and operational purposes. The park announced today (16th) the performance report for the 2019/20 fiscal year ending June 30, 2020. The park last year


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Written by: Liang Huanmin

2020-12-16 15:11

Last update date: 2020-12-16 15:15

Ocean Park’s financial situation is poor. At the end of May this year, it received an injection of 5.4 billion yuan for debt repayment and operational purposes.

The park announced today (16th) the performance report for the 2019/20 fiscal year as of June 30, 2020. The park’s net operating loss for the previous year was approximately 1,171,900,000 yuan, and the loss was approximately doubled from the previous year; However, before the end of June, the park had received a subsidy of about 3.08 billion yuan from the government to help Ocean Park turn a loss into a profit. The annual surplus was 1.92 billion yuan.

Under the epidemic, the park has been closed and reopened many times. The park recorded 2.2 million visitors in the 2019-2020 fiscal year, down 61.7% from the 5.7 million in the previous year.

(Profile picture)

The financial situation of the Ocean Park has attracted attention from all walks of life. The water park, which has been built for a long time, has spent a lot of money and faced heavy debts but failed to open the park under the epidemic. In the end, the Hong Kong government has to inject more than 5.4 billion yuan to "renew its life."

Ocean Park today (16th) announced its 2019/20 financial year performance report for the year ended June 30, 2020.

Last year, the park’s net operating loss was about 1.171 billion yuan, and the total loss increased by 583 million yuan compared to last year. However, it is worth mentioning that the park had received about 3.08 billion yuan in subsidies from the Hong Kong government before June. gold.

In the end, Ocean Park turned from a loss to a profit, and instead recorded a surplus of 1.92 billion yuan, the first time it recorded a surplus after four consecutive years of loss.

Attendance dropped by 60%, only 2.2 million people entered

Ocean Park pointed out that in the first half of 2020, affected by the new crown epidemic, the park will need to be closed for 139 days, and the overall passenger capacity will be significantly reduced. In addition, the number of inbound passengers has fallen sharply. Last year, only 2.2 million people entered the park, compared with 570 in the previous year. The number of visitors fell by 61.7%, and related admissions, catering and merchandise revenues and other park consumption also fell sharply. During the period, revenue of HK$717.1 million was recorded, which was a 58.7% decrease from HK$1.234.9 million in the 2018/19 financial year. .

Source: hk1

All news articles on 2020-12-16

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