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Ocean Park recorded 1.4 million admissions last year, with an operating profit of over RMB 400 million and a loss of RMB 1.81 billion

2022-12-07T06:33:37.081Z

Ocean Park announced its financial year results today (7th). As of the end of June this year, the loss during the 2021-2022 fiscal year reached HK$1.81 billion. Ocean Park pointed out that the loss was mainly caused by a sum of HK$1.7647 billion



Ocean Park announced its financial year results today (7th). As of the end of June this year, the loss during the 2021-2022 fiscal year reached HK$1.81 billion.

Ocean Park pointed out that the loss was mainly reflected in the book value of a one-off property, machinery and equipment and right-of-use asset impairment loss of HK$1.7647 billion, which did not affect cash flow.


However, Ocean Park's revenue increased by 15.6% year-on-year, the company's overall revenue increased by 38.5% year-on-year, and per capita income also increased by 21.2%. Taking into account the government's annual subsidies to the company, it recorded a total operating surplus of HK$436.2 million.

Huang Sihui, Chief Executive Officer of Ocean Park Corporation, said that in the face of macroeconomic uncertainty, unfavorable geopolitical developments, and the continued epidemic situation that has brought inbound tourism activities to a near standstill, the operating situation in the last financial year was extremely severe.


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Ocean Park stated that there was an annual loss of HK$1,815.7 million in the last financial year. The loss was mainly composed of a one-off impairment loss of property, plant and equipment and right-of-use assets of HK$1,764.7 million, and another HK$1.7647 billion. Depreciation and write-off of property, plant and equipment and depreciation of right-of-use assets resulted in $513.7 million.

However, the asset impairment is only reflected in the book value and does not affect the cash flow.

As of June 30 this year, the company's bank balance and cash totaled 1.3116 billion yuan, reflecting the company's current financial reserves are sufficient.

Ocean Park recorded 1.4 million admissions in the relevant year, maintaining the level of the previous financial year.

The water park, which officially opened on September 21, 2021, has attracted a total of 200,000 visitors as of the end of the fiscal year.

Ocean Park continued to point out that although under the government’s epidemic prevention guidelines, Ocean Park and the water park have to be closed for 105 days and 128 days respectively, Ocean Park’s revenue increased by 15.6% year-on-year, the company’s overall revenue increased by 38.5% year-on-year, and per capita income also increased 21.2%.

In addition, the company prudently controlled costs and recorded an operating surplus of HK$436.2 million, taking into account the government's annual subsidy to the company.

Huang Sihui, CEO of Ocean Park Corporation, said that due to the uncertain macro economy, unfavorable geopolitical developments, and the continued near-stop of inbound tourism activities caused by the new crown epidemic, the operating situation in the 2021-2022 fiscal year is extremely severe.

In the last fiscal year, the company facilitated a total of 11,382 hours of volunteer service.

These community activities include providing a venue for spraying photocatalyst anti-bacterial coatings on 50 non-franchised public buses and minibuses to prepare them for transporting COVID-19 patients.

Park staff supported the Home Affairs Department and the Community Emergency Auxiliary Team to organize a total of 200,000 rapid antigen test anti-epidemic kits, collected garbage from 27 hiking trails, and cleaned up marine debris along the coast of the Southern District.

Haichang Ocean Park was included in the MSCI China Index and its share price dropped by 75%. The board of directors did not know the reason and rewarded you to stay|Tuesday at 11:00, grab a $500 discount with Ocean Park Hotel tickets and redeem them for free admission to Ocean Park furkids!

Take the ocean train, check in with the walrus with a designated date

Source: hk1

All news articles on 2022-12-07

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