Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 1,816,842,000, a significant increase from RMB 792,988,000 in 2022, representing a growth of 129%[2] - Gross profit for 2023 was RMB 457,455,000, compared to a gross loss of RMB 278,728,000 in 2022, indicating a turnaround in profitability[2] - The net loss for the year was RMB 181,907,000, a substantial improvement from a net loss of RMB 1,408,858,000 in the previous year[2] - The company reported a pre-tax loss of RMB 186,104 thousand for the year ended December 31, 2023, compared to a pre-tax loss of RMB 1,418,389 thousand in 2022, indicating an improvement in financial performance[21] - The company reported a net loss attributable to equity holders of RMB 197,259,000 for 2023, a significant improvement from a loss of RMB 1,395,911,000 in 2022[37] - The company recorded a net loss of approximately RMB 181.9 million for the year ending December 31, 2023, a significant improvement from a net loss of RMB 1,408.9 million in 2022[50] - The company achieved a gross profit of approximately RMB 457.5 million in 2023, compared to a gross loss of RMB 278.7 million in 2022, resulting in a gross profit margin of 25.2%[65] - Adjusted EBITDA for the year ended December 31, 2023, was RMB 458.9 million, a significant improvement from a loss of approximately RMB 423.2 million in 2022, primarily due to a rebound in the cultural tourism market[72] Assets and Liabilities - Non-current assets increased to RMB 8,804,621,000 in 2023 from RMB 7,363,545,000 in 2022, reflecting a growth of 20%[6] - Current liabilities totaled RMB 2,915,502,000, up from RMB 2,640,979,000 in 2022, indicating a rise of 10%[6] - Total assets as of December 31, 2023, amounted to RMB 11,522,744 thousand, up from RMB 10,210,925 thousand in 2022[21][22] - The total liabilities increased to RMB 9,004,382 thousand as of December 31, 2023, from RMB 7,534,598 thousand in 2022, primarily due to increased operational activities[21][22] - The total interest-bearing loans and borrowings as of December 31, 2023, reached RMB 6,298,972,000, an increase from RMB 5,267,730,000 in 2022[46] - The net debt ratio as of December 31, 2023, was approximately 182.5%, an increase from 150.3% in 2022, reflecting the company's leverage position[76] Cash Flow and Financing - Cash and cash equivalents increased to RMB 1,702,264,000 in 2023 from RMB 1,244,633,000 in 2022, marking a growth of 37%[6] - The company has secured new bank loans amounting to RMB 64,300,000, maturing after December 31, 2024, to enhance liquidity[11] - The company believes its existing financial resources are sufficient to execute future expansion plans and can secure additional financing on favorable terms if necessary[77] - The company aims to explore innovative financing models for existing heavy assets to support future growth and improve capital structure[60] Revenue Sources - Revenue from ticket sales for park operations reached RMB 902,753 thousand in 2023, a substantial increase from RMB 348,340 thousand in 2022[25][26] - The operating segment revenue breakdown shows RMB 1,687,376 thousand from park operations and RMB 129,466 thousand from operation services, with no revenue from property operations[21] - Revenue from the park operations segment was approximately RMB 1,687.4 million, reflecting a growth of 118.6% compared to the same period in 2022, excluding the newly opened Zhengzhou park[52] - Other income and gains rose by approximately 68.8% to about RMB 306.5 million in 2023, up from RMB 181.5 million in 2022, mainly due to fair value gains on investment properties and dividends from financial assets[66] Operational Highlights - The total number of visitors to the parks reached approximately 9.29 million, a substantial increase of 101.9% compared to the same period in 2022, excluding the newly opened Zhengzhou park[52] - The company operates 7 theme parks across China, with the Zhengzhou park being the latest addition opened in 2023[52] - The company has integrated popular IPs such as Ultraman and One Piece into its parks, enhancing visitor experience and driving revenue growth[53] - The theme parks experienced growth exceeding the average recovery rate of the tourism industry in 2023, with ticket sales during the Spring Festival period increasing by 18.3% compared to the same period in 2023, and revenue from the theme park segment growing by 15.9%[54] Future Plans and Strategies - The company aims to expand its business into cultural tourism services and solutions, as well as new consumption businesses, leveraging its operational experience[50] - The company plans to continue introducing high-quality IPs to enhance its revenue structure and visitor engagement across its parks[53] - The company plans to open several new projects, including the Zhengzhou Ocean Park Phase II in 2024 and the Beijing Ocean Park project between 2026-2027[61] - The company is actively pursuing potential cooperation opportunities for several projects, indicating ongoing expansion efforts[56] Employee and Governance - The total number of full-time employees increased to 3,725 as of December 31, 2023, from 3,060 in 2022, reflecting the company's growth and expansion efforts[81] - The board of directors did not recommend any dividend payment for the year ended December 31, 2023[86] - The board expressed gratitude to management, employees, shareholders, business partners, customers, and professional advisors for their contributions and support[88]
海昌海洋公园(02255) - 2023 - 年度业绩