Pincheng Tourism As people’s travel consumption demand and spending power continue to rise, theme parks, as a modern tourist venue integrating tourism, entertainment and leisure, meet people’s diverse leisure and entertainment needs and choice, becoming more and more popular among people. This article will focus on the main financial data performance and core brand development of my country's four major theme park chains.
In 2018, the world's top ten theme park groups, including China's Shanghai Disneyland, exceeded the 500 million mark, becoming the highest ever. With the implementation of the policy to lift the ban on investment in theme parks issued by the Chinese government in 2015, the popularity of theme parks has revived. In 2018, the retail sales of major parks in my country's market exceeded 40 billion yuan, entering a golden period.
After decades of development, the four major theme park chain chains: OCT A (000069.SZ), Huaqiang Fantawild (834793.OC), Songcheng Entertainment (300144.SZ) and Haichang Ocean (2255.HK) With hard work and progress, we have now formed unique characteristics in operating theme park brands, and each has its own advantage.
1. OCT A: Mainland’s leader in the “culture + tourism” theme park industry
As a listed company in the tourism and real estate sectors of OCT Group, OCT A was born in 1997 and has Listed on the main board of Shenzhen Stock Exchange. In 2009, OCT A non-publicly issued 486 million shares to its controlling shareholder, OCT Group, and purchased the equity of 12 companies held by OCT Group. OCT Group's tourism, real estate and related businesses were listed as a whole through OCT A.
After more than 20 years of unremitting exploration and upgrading, OCT A currently focuses on comprehensive tourism and real estate, and has created a multi-product system including tourism performing arts, cultural industry clusters, etc., with ingenuity and creativity Propose the development model of "culture + tourism + urbanization" and "tourism + Internet + finance".
In 2018, OCT A achieved operating income of 48.142 billion yuan, a year-on-year increase of 13.70%, and net profit attributable to shareholders of listed companies was 10.589 billion yuan, a year-on-year increase of 22.52%; as of the end of the second quarter of 2019, OCT A The operating income was 17.654 billion yuan, a year-on-year increase of 19.95%, and the net profit attributable to shareholders of the listed company was 2.810 billion yuan, a year-on-year increase of 39.52%. It can be seen that OCT A achieved good results in terms of operating income and net profit in the first half of the year. increase.
Among them, the comprehensive tourism revenue of OCT A in 2018 reached 19.657 billion yuan, a year-on-year increase of 6.08%; as of the end of the second quarter of 2019, OCT A achieved a comprehensive tourism revenue of 5.725 billion yuan, a year-on-year increase of 22.46%.
OCT A is not only the earliest pioneer in establishing theme tourism parks in China, but also a world-class theme park operator and leading cultural and entertainment service provider. It is the industry leader in terms of brand awareness and influence. location.
Theme parks are mainly divided into two types: single-theme amusement parks and large-scale comprehensive multi-theme amusement parks:
Among them, the strength of theme parks represented by Happy Valley ranks among the best in the country. The "Happy Valley" brand has also become the only well-known Chinese trademark in my country's theme park industry, and OCT A ranks first with the Happy Valley brand. So far, OCT A has opened Happy Valley parks in seven major cities including Shenzhen, Tianjin, Chengdu, Beijing, Shanghai, Wuhan and Chongqing. In addition, Nanjing Happy Valley is expected to be completed in 2020, and Xi'an Happy Valley is under construction.
Since the opening of Shenzhen Happy Valley in 1998, the Happy Valley brand has experienced more than 20 years of development. It has accumulated rich experience in park design, equipment procurement, park management and renewal and maintenance. Now, OCT A is planning to change the management model of the theme park from heavy assets to light assets.
2. Huaqiang Fantawild: "Culture + Technology" Theme Park Aotou
Huaqiang Fantawild is a company that specializes in cultural content products (special movies and digital animation) and cultural technology theme parks. Large-scale cultural enterprises with main business, through the implementation of the strategy of integrating culture and technology, have formed a business model with creative design as the leader and special movies, theme performances, animation products, film and television productions, cultural derivatives, and cultural science and technology theme parks as the main content and Support the entire industry chain system.
In 2018, Huaqiang Fantawild achieved operating income of 4.338 billion yuan, a year-on-year increase of 12.57%, and net profit attributable to shareholders of listed companies was 788 million yuan, a year-on-year increase of 5.48%; as of the end of the second quarter of 2019, the company The operating income was 2.441 billion yuan, a year-on-year increase of 26.18%, and the net profit attributable to shareholders of listed companies was 385 million yuan, a year-on-year increase of 15.02%.
Huaqiang Fantawild, as a large-scale enterprise in the creative design, manufacturing and export of domestic cultural and technological theme parks, has built "Fantawild Happy World", "Fantawild Fantasy Kingdom", "Fantawild Oriental Painting", There are five major theme parks including "Fantawild Water Park" and "Fantawild ASEAN Myth". As of the end of May 2019, 23 cultural and technological theme parks have been built, and 21 theme parks are planned or under construction. In addition, Huaqiang Fantawild also exported cultural, technological, and theme parks to countries such as Iran and Ukraine, pioneering the "going out" of Chinese cultural, technological, and technological theme parks.
As of 2018, Huaqiang Fantawild has received 42.07 million tourists, a year-on-year increase of 9.3%, making it the fifth largest theme park in the world, ranking second only to OCT Group.
In 2019, Huaqiang Fantawild will launch four new theme parks, namely Changsha Oriental Divine Painting, Jingzhou Oriental Divine Painting, Jiayuguan Silk Road Divine Painting and Handan National Color Spring and Autumn. Among them, Jiayuguan Silk Road Divine Painting and Handan National Color Spring and Autumn are respectively regionally customized and created based on the cultural characteristics of the Silk Road and the cultural characteristics of Chinese idioms. They are presented to the market by Huaqiang Fantawild following the opening of Nanning Fantawild ASEAN Divine Painting in 2018. The other two customized works.
In the next three years, Huaqiang Fantawild will continue to use Chinese culture as the background and high-tech as a means to creatively design and create a culture with more Chinese cultural characteristics, higher technical level and market competitiveness. Technology theme park.
3. Songcheng Performing Arts: Theme Park + Tourism Performing Arts Leader
As the first performing arts company in China, Songcheng Performing Arts is one of the top ten global theme park groups. Its main business is theme parks. and investment, development and operation of cultural and performing arts. Dozens of major tourist areas, 30 major theme parks, Shanghai, etc. have been built or are under construction in Hangzhou, Sanya, Lijiang, Jiuzhaigou, Guilin, Zhangjiajie, Xi'an, Shanghai, Longquan Mountain, Australia, etc. It has hundreds of entertainment and performance shows, and has dozens of cultural and entertainment projects such as China Performing Arts Valley.
After twenty years of ingenuity, Songcheng Performing Arts has formed the core barriers of "brand + creative ability + integrated marketing".
In 2018, Songcheng Performing Arts achieved operating income of 3.211 billion yuan, a year-on-year increase of 6.20%, and net profit attributable to shareholders of listed companies was 1.287 billion yuan, a year-on-year increase of 20.57%; as of the end of the second quarter of 2019, The company achieved operating income of 1.417 billion yuan, a year-on-year increase of 6.21%, and net profit attributable to shareholders of listed companies was 785 million yuan, a year-on-year increase of 18.03%. It can be seen that although Songcheng Performing Arts' operating income and net profit maintained a growth trend in the first half of 2019, the growth rate has slowed down.
Among them, Eternal Love is a project independently created by Songcheng Performing Arts and has a history of more than 20 years.
Eternal Love first appeared in 1997;
In May 2011, Songcheng Performing Arts signed the "Taishan Songcheng Project Cooperation Agreement" with the Tai'an Tourism Economic Development Zone Management Committee, which will be under construction "Eternal Love in Mount Tai" and "Eternal Love in Wuyi Mountain" were performed in theme parks, and the "Eternal Love" performance series products gradually took shape;
In February 2012, a new large-scale 4D indoor live performance was officially launched , "Eternal Love between Wu and Yue" became the first replication project of Songcheng Performing Arts' "Eternal Love" series;
In September 2013, Sanya Eternal Love officially opened for business, which is a deep integration of "theme park + cultural performing arts" The business model is the first external investment project in a first-tier tourist destination city;
In March 2014, Lijiang Eternal Love officially opened for operation, and built the Ancient Tea Horse City, the Valley of Love, the Valley of Death, and Nacuo Village The five major parks of Adventure Valley and Adventure Valley have created the top ten performing arts "shows" represented by "Lijiang Eternal Love" and "Shocking Flames". 2014 has become a year when the Eternal Love series blooms;
2014 May In September, Jiuzhai Eternal Love Park was officially opened for operation;
In May 2015, taking advantage of the "Maritime Silk Road" strategy, Fuzhou Eternal Love was established;
In September 2015, they jointly built "The eternal love of the Li River" created the Longquan Mountain Scenic Area to enter surrounding tourism, and the tourism performing arts business began to expand nationwide;
In April 2016, Songcheng Performing Arts and the Zhangjiajie Municipal People's Government signed the "Strategic Cooperation Framework Agreement", It is planned to build the "Zhangjiajie Eternal Scenery" tourist culture theme park in Wulingyuan District, Zhangjiajie City;
In April 2017, Songcheng Performing Arts signed the "Xi'an Eternal Scenery" with the Xi'an Qujiang Daming Palace Heritage Area Protection and Renovation Office "District" Project Cooperation Agreement" to build "Xi'an Eternal Love", the performing arts territory expanded again;
In November 2017, Songcheng Performing Arts and its wholly-owned subsidiary Huocheng Songcheng and Songcheng·Huangdi Eternal The "Cooperation Agreement" was signed for the scenic area project.
Based on its unique business strategy, after more than 20 years of hard work, "Eternal Love" has now become one of the core brands of Songcheng Entertainment and is fiercely popular in theme parks. In the competitive environment, its position has become increasingly prominent
4. Haichang Ocean: the leader of "Ocean+" ocean theme parks
Haichang Ocean is a leading theme park and theme park in China. A developer and operator of supporting commercial properties. Its theme park provides a comprehensive marine theme park, leisure, dining and shopping experience through in-park amusement projects and supporting services provided by supporting commercial properties around the theme park. It has more than 20 years of experience in conservation, marine theme park development and operation, and has been among the top ten theme park operators in the world for decades.
Compared with OCT A, Huaqiang Fantawild, and Songcheng Entertainment, Ocean Park The performance of Chang Ocean Park is not optimistic, especially the net profit, which has declined significantly.
In 2018, Haichang Ocean achieved operating income of 1.793 billion yuan, a year-on-year increase of 5.06%, and net profit of 40 million yuan, a year-on-year decrease of 85.86%; as of the end of the second quarter of 2019, Haichang Ocean’s operating income It was 1.088 billion yuan, a year-on-year increase of 64.78%, and the net profit was a loss of 93 million yuan, a year-on-year decrease of 213.97%. It can be seen that Haichang Ocean's operating income in the first half of 2019 achieved accelerated growth, and its net profit showed a substantial increase. decline.
In terms of theme parks, Haichang has operated ten projects and seven unique ocean theme parks and an adventure theme park in Dalian, Qingdao, Tianjin, Yantai, Wuhan, Chengdu, Chongqing, Shanghai and Sanya. amusement park, an immersive marine entertainment complex and a water world. In addition, there is an ocean theme park project under construction in Zhengzhou.
It can be seen that Haichang Ocean Theme Park is constantly maturing, innovating and transcending. At the same time, it can also be seen that there is huge space for the future development of my country's marine world.
From the above, it can be seen that my country’s theme park development has achieved remarkable results, and the theme park industry has entered a golden period of development. However, we have to admit that compared with world-level, such as Disney’s mature profit model, there is still a long way to go. Way to go.
Judging from the current development trend of China's theme parks, various companies will maintain or increase the number of tourists through reinvestment and expansion. However, as international brands and operators continue to enter, the number of theme parks will continue to increase, and market competition will also intensify.
Of course, the expansion of my country's theme parks is not endless. In 2018, my country issued the "Several Opinions on Regulating the Construction and Development of Theme Parks" which pointed out that the direction of transformation and upgrading and quality improvement should be given from three aspects: enriching cultural connotation, improving scientific and technological content, and strengthening market entities.
It is foreseeable that policy changes serve as a bellwether for theme park construction. With the introduction of policies similar to the above-mentioned theme parks, my country's theme parks will move towards standardizing the theme park industry, promoting and developing theme parks in the future. The direction of institutional innovation in the field. (Pincheng Tourism Acanding)