Recent Insider Transactions • Jul 01
Non-Executive Director recently sold HK$1.3m worth of stock On the 23rd of June, Cheng Qu sold around 4m shares on-market at roughly HK$0.34 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth HK$7.1m. Insiders have been net sellers, collectively disposing of HK$19m more than they bought in the last 12 months. Recent Insider Transactions • Jun 26
Non-Executive Director recently sold HK$1.6m worth of stock On the 18th of June, Cheng Qu sold around 4m shares on-market at roughly HK$0.36 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth HK$4.0m. Insiders have been net sellers, collectively disposing of HK$8.9m more than they bought in the last 12 months. New Risk • Jun 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (63% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Significant insider selling over the past 3 months (HK$7.3m sold). Recent Insider Transactions • May 30
Non-Executive Director recently sold HK$4.0m worth of stock On the 22nd of May, Cheng Qu sold around 10m shares on-market at roughly HK$0.41 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$7.3m more than they bought in the last 12 months. Announcement • Apr 29
Haichang Ocean Park Holdings Ltd., Annual General Meeting, Jun 30, 2026 Haichang Ocean Park Holdings Ltd., Annual General Meeting, Jun 30, 2026, at 15:00 China Standard Time. Location: 10/f, administration building 3, no. 1116, hongsong east road, minhang district, shanghai China New Risk • Apr 02
New major risk - Revenue and earnings growth Earnings have declined by 10% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 10% per year over the past 5 years. Shareholders have been substantially diluted in the past year (63% increase in shares outstanding). Reported Earnings • Apr 02
Full year 2025 earnings released: CN¥0.10 loss per share (vs CN¥0.091 loss in FY 2024) Full year 2025 results: CN¥0.10 loss per share (further deteriorated from CN¥0.091 loss in FY 2024). Revenue: CN¥1.55b (down 15% from FY 2024). Net loss: CN¥955.9m (loss widened 29% from FY 2024). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Announcement • Mar 19
Haichang Ocean Park Holdings Ltd. to Report Fiscal Year 2025 Final Results on Mar 31, 2026 Haichang Ocean Park Holdings Ltd. announced that they will report fiscal year 2025 final results at 4:00 PM, China Standard Time on Mar 31, 2026 New Risk • Dec 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (63% increase in shares outstanding). Minor Risk Share price has been volatile over the past 3 months (10% average weekly change). New Risk • Oct 29
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 63% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Announcement • Oct 17
Haichang Ocean Park Holdings Ltd. has completed a Follow-on Equity Offering in the amount of HKD 2.295 billion. Haichang Ocean Park Holdings Ltd. has completed a Follow-on Equity Offering in the amount of HKD 2.295 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 5,100,000,000
Price\Range: HKD 0.45
Transaction Features: Subsequent Direct Listing Reported Earnings • Oct 03
First half 2025 earnings released: CN¥0.036 loss per share (vs CN¥0.01 loss in 1H 2024) First half 2025 results: CN¥0.036 loss per share (further deteriorated from CN¥0.01 loss in 1H 2024). Revenue: CN¥686.3m (down 14% from 1H 2024). Net loss: CN¥295.1m (loss widened 250% from 1H 2024). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has fallen by 41% per year, which means it is performing significantly worse than earnings. Reported Earnings • Sep 02
First half 2025 earnings released: CN¥0.036 loss per share (vs CN¥0.01 loss in 1H 2024) First half 2025 results: CN¥0.036 loss per share (further deteriorated from CN¥0.01 loss in 1H 2024). Revenue: CN¥686.3m (down 14% from 1H 2024). Net loss: CN¥295.1m (loss widened 250% from 1H 2024). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has fallen by 40% per year, which means it is performing significantly worse than earnings. New Risk • Aug 31
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CN¥369m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. This is currently the only risk that has been identified for the company. Announcement • Aug 19
Haichang Ocean Park Holdings Ltd. to Report First Half, 2025 Results on Aug 29, 2025 Haichang Ocean Park Holdings Ltd. announced that they will report first half, 2025 results on Aug 29, 2025 Announcement • Jun 03
Haichang Ocean Park Holdings Ltd. has filed a Follow-on Equity Offering in the amount of HKD 2.295 billion. Haichang Ocean Park Holdings Ltd. has filed a Follow-on Equity Offering in the amount of HKD 2.295 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 5,100,000,000
Price\Range: HKD 0.45
Transaction Features: Subsequent Direct Listing New Risk • May 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-CN¥369m free cash flow). Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). Announcement • Apr 24
Haichang Ocean Park Holdings Ltd., Annual General Meeting, Jun 27, 2025 Haichang Ocean Park Holdings Ltd., Annual General Meeting, Jun 27, 2025, at 15:00 China Standard Time. Location: large meeting room, 31st floor, building a, foreshore beach world trade centre phase 1, no. 4, lane 255, dongyu road, pudong new district, shanghai China Reported Earnings • Apr 01
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: CN¥0.091 loss per share (further deteriorated from CN¥0.024 loss in FY 2023). Revenue: CN¥1.82b (flat on FY 2023). Net loss: CN¥739.7m (loss widened 275% from FY 2023). Revenue missed analyst estimates by 30%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings. Announcement • Mar 18
Haichang Ocean Park Holdings Ltd. to Report Fiscal Year 2024 Results on Mar 28, 2025 Haichang Ocean Park Holdings Ltd. announced that they will report fiscal year 2024 results on Mar 28, 2025 New Risk • Jan 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Hong Kong stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. New Risk • Dec 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Sep 03
First half 2024 earnings released: CN¥0.01 loss per share (vs CN¥0.011 loss in 1H 2023) First half 2024 results: CN¥0.01 loss per share (improved from CN¥0.011 loss in 1H 2023). Revenue: CN¥799.8m (up 6.8% from 1H 2023). Net loss: CN¥84.2m (loss narrowed 5.4% from 1H 2023). Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Aug 20
Haichang Ocean Park Holdings Ltd. to Report First Half, 2024 Results on Aug 30, 2024 Haichang Ocean Park Holdings Ltd. announced that they will report first half, 2024 results on Aug 30, 2024 Announcement • May 31
Haichang Ocean Park Holdings Ltd., Annual General Meeting, Jun 28, 2024 Haichang Ocean Park Holdings Ltd., Annual General Meeting, Jun 28, 2024, at 15:00 China Standard Time. Location: large meeting room, 31st floor, building a, foreshore beach world trade centre phase 1, no. 4, lane 255, dongyu road, pudong new district, shanghai China Reported Earnings • Mar 27
Full year 2023 earnings released: CN¥0.024 loss per share (vs CN¥0.17 loss in FY 2022) Full year 2023 results: CN¥0.024 loss per share (improved from CN¥0.17 loss in FY 2022). Revenue: CN¥1.82b (up 129% from FY 2022). Net loss: CN¥197.3m (loss narrowed 86% from FY 2022). Revenue is forecast to grow 38% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 15
Haichang Ocean Park Holdings Ltd. to Report Fiscal Year 2023 Results on Mar 26, 2024 Haichang Ocean Park Holdings Ltd. announced that they will report fiscal year 2023 results on Mar 26, 2024 Announcement • Nov 18
Haichang Ocean Park Holdings Ltd. Announces Management Changes The board of directors of Haichang Ocean Park Holdings Ltd. announced that Mr. Zhang Jianbin resigned as an executive Director, the Executive President and an authorised representative with effect from 17 November 2023, due to the adjustment of his personal work engagement. The Board announced that Mr. Qu Cheng, an executive Director, has been appointed as an Authorised Representative of the Company with effect from 17 November 2023. The Board also announced that Mr. Li Kehui has been appointed as an executive Director and the Senior Vice President (Person-In-Charge) of the Company with effect from 17 November 2023. The biographical details of Mr. Li are set out as follows: Mr. Li Kehui, aged 49, has over 27 years of extensive experience in business operation and management in the field of cultural tourism, as well as governance, investment and financing of listed companies. Prior to joining Group, Mr. Li served successively as representative of securities affairs and secretary of the board of Shenzhen Overseas Chinese Town Co. Ltd. and the general manager of Happy Valley Group. Mr. Li received a bachelor's degree in international investment at the Department of Investment of Zhongnan University of Economics and Law (formerly known as Zhongnan University of Finance and Economics in 1996. Announcement • Nov 01
Haichang Ocean Park Holdings Ltd. Announces Board Changes Haichang Ocean Park Holdings Ltd. announce that Dr. Shen Han has been appointed as an independent non-executive Director and a member of the audit committee and the nomination committee of the Company, respectively, with effect from 31 October 2023. The biographical details of Dr. Shen are set out as follows: Dr. Shen Han, aged 47, is a professor and doctoral supervisor at Fudan University, China. Her academic research focuses on local branding, digital innovation of cultural heritage and destination marketing and management. She received a bachelor's degree in economics at Fudan University, China; a master's degree in management at the University of Nottingham, United Kingdom; and a doctorate in business administration at the Chinese Academy of Social Sciences, China. Reported Earnings • Sep 30
First half 2023 earnings released: CN¥0.011 loss per share (vs CN¥0.067 loss in 1H 2022) First half 2023 results: CN¥0.011 loss per share (improved from CN¥0.067 loss in 1H 2022). Revenue: CN¥748.7m (up 191% from 1H 2022). Net loss: CN¥89.0m (loss narrowed 84% from 1H 2022). Revenue is forecast to grow 40% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 65% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Sep 01
First half 2023 earnings released: CN¥0.011 loss per share (vs CN¥0.067 loss in 1H 2022) First half 2023 results: CN¥0.011 loss per share (improved from CN¥0.067 loss in 1H 2022). Revenue: CN¥748.7m (up 191% from 1H 2022). Net loss: CN¥89.0m (loss narrowed 84% from 1H 2022). Revenue is forecast to grow 44% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 53% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 19
Haichang Ocean Park Holdings Ltd. to Report First Half, 2023 Results on Aug 30, 2023 Haichang Ocean Park Holdings Ltd. announced that they will report first half, 2023 results on Aug 30, 2023 Announcement • Jul 04
Haichang Ocean Park Holdings Ltd. Announces Change of Non-Executive Director The board of directors of Haichang Ocean Park Holdings Ltd. announced that Mr. Li Hao ("Mr. Li") has resigned as a non-executive Director, with effect from 3 July 2023 as he needs to devote his attention to other commitments as a result of his busy working schedule at ORIX Group. The Board announced that Mr. Wu Tongtong ("Mr. Wu") has been appointed as a non-executive Director with effect from 3 July 2023. Mr. Wu Tongtong, aged 43, graduated from the Graduate School of Finance, Accounting and Law of Waseda University in Japan with a master's degree in business administration (finance). Mr. Wu has more than ten years of management experience in investment, real estate development, and IP licensing of films and television shows. The Board considers that the appointment of Mr. Wu Tongtong will bring valuable perspectives, skill and experience to the Board and the Company's future development. Mr. Wu joined ORIX Corporation in January 2010 and is currently a director of ORIX Corporation. At the same time, Mr. Wu served as the executive deputy general manager of ORIX (China) Investment Co. Ltd. and the president of ORIX (China) Industrial Holdings Co. Ltd. Mr. Wu is also a director of Beijing Dongfang Zhongke Integrated Technology Co. Ltd. New Risk • Jun 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 9.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Announcement • May 25
Haichang Ocean Park Holdings Ltd. Appoints Wang Limin as Senior Vice President Haichang Ocean Park Holdings Ltd. announced the following appointment. To further strengthen the Group's asset operation capabilities and promote the continuous development of the Group's new strategy, Mr. Wang Limin ("Mr. Wang") has been appointed to hold the following position: Mr. Wang Limin, aged 55, has been appointed as the Company's senior vice president, responsible for the Group's affairs on investment management, capital operation and investor relations. Mr. Wang has over 20 years of management experience in different sectors including private equity and investment management. Before joining the Group, Mr. Wang successively served as senior vice president of Prologis China, general manager of Hongxin Capital Co. Ltd., a subsidiary of Zhongzhi Enterprise Group, vice president of Dongbai Group and vice president of Full Truck Alliance. Mr. Wang graduated from Harbin Engineering University in 1990 and received his MBA degree from Schulich School of Business, York University in Canada in 2003. Reported Earnings • Apr 01
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: CN¥0.17 loss per share (down from CN¥0.11 profit in FY 2021). Revenue: CN¥793.0m (down 68% from FY 2021). Net loss: CN¥1.40b (down 265% from profit in FY 2021). Revenue missed analyst estimates by 24%. Earnings per share (EPS) also missed analyst estimates by 147%. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 84% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to HK$2.22, the stock trades at a trailing P/E ratio of 26.7x. Average forward P/E is 16x in the Hospitality industry in Hong Kong. Total returns to shareholders of 492% over the past three years. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment deteriorated over the past week After last week's 60% share price decline to HK$1.49, the stock trades at a trailing P/E ratio of 18.8x. Average forward P/E is 13x in the Hospitality industry in Hong Kong. Total returns to shareholders of 204% over the past three years. Recent Insider Transactions • Nov 18
Executive Director recently bought HK$1.8m worth of stock On the 15th of November, Cheng Qu bought around 500k shares on-market at roughly HK$3.70 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$35m. Insiders have collectively bought HK$269m more in shares than they have sold in the last 12 months. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Non-Executive Director Jun Wang was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 03
Haichang Ocean Park Holdings Ltd. Announces Executive Changes The board of directors of Haichang Ocean Park Holdings Ltd. hereby announced that Ms. Lam Wing Shan has tendered her resignation as the company secretary of the Company; an authorized representative of the Company pursuant to Rule 3.05 of the Rules Governing the Listing of securities on The Stock Exchange of Hong Kong Limited and an authorized representative of the Company to accept service of process and notices on behalf of the Company in Hong Kong as required under rule 19.05(2) of the Listing Rules and Part 16 of the Companies Ordinance with effect from 2 November 2022. Following the resignation of Ms. Lam, the Board announced that Ms. So Lai Shan has been appointed as the Company Secretary, the Authorized Representative and the Process Agent with effect from 2 November 2022. Ms. So is currently a manager of corporate services of Vistra Corporate Services (HK) Limited. She has over ten years of experience in the corporate services industry. Ms. So is an associate member of The Hong Kong Chartered Governance Institute and The Chartered Governance Institute in United Kingdom. She acted/is currently acting as the company secretary or a joint company secretary of a few listed companies on the Stock Exchange. Recent Insider Transactions • Nov 01
Executive Director recently bought HK$35m worth of stock On the 24th of October, Cheng Qu bought around 5m shares on-market at roughly HK$7.06 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought HK$227m more in shares than they have sold in the last 12 months. Reported Earnings • Sep 30
First half 2022 earnings released: CN¥0.14 loss per share (vs CN¥0.069 loss in 1H 2021) First half 2022 results: CN¥0.14 loss per share (further deteriorated from CN¥0.069 loss in 1H 2021). Revenue: CN¥257.8m (down 81% from 1H 2021). Net loss: CN¥539.3m (loss widened 95% from 1H 2021). Revenue is forecast to grow 38% p.a. on average during the next 3 years, compared to a 31% growth forecast for the Hospitality industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has increased by 87% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improved over the past week After last week's 16% share price gain to HK$7.86, the stock trades at a trailing P/E ratio of 48.3x. Average forward P/E is 26x in the Hospitality industry in Hong Kong. Total returns to shareholders of 589% over the past three years. Major Estimate Revision • Sep 08
Consensus revenue estimates fall by 12% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥1.23b to CN¥1.08b. Forecast losses increased from -CN¥0.08 to -CN¥0.14 per share. Hospitality industry in Hong Kong expected to see average net income growth of 147% next year. Consensus price target up from HK$4.93 to HK$5.49. Share price was steady at HK$7.59 over the past week. Reported Earnings • Sep 01
First half 2022 earnings released: EPS: CN¥0 (vs CN¥0.069 loss in 1H 2021) First half 2022 results: EPS: CN¥0. Revenue: CN¥257.8m (down 81% from 1H 2021). Net loss: CN¥539.3m (loss widened 95% from 1H 2021). Over the next year, revenue is forecast to grow 33%, compared to a 43% growth forecast for the Hospitality industry in Hong Kong. Announcement • Aug 23
Haichang Ocean Park Holdings Ltd. Provides Earnings Guidance for the First Half of 2022 Haichang Ocean Park Holdings Ltd. provided earnings guidance for the first half of 2022. The Group is expected to record a net loss of no more than RMB 550 million for the six months ended 30 June 2022, as compared to the net loss of RMB 278.4 million for the same period in 2021. Announcement • Jun 15
Haichang Ocean Park Holdings Ltd. Appoints Kam, Min Ho Andrew as the Group's President of Asia Pacific (Excluding Mainland China) with Effect from 15 June 2022 Haichang Ocean Park Holdings Ltd. announced the appointment of Mr. Kam, Min Ho Andrew as the Group's president of Asia Pacific (excluding Mainland China) with effect from 15 June 2022. Mr. Kam, aged 59, will be fully in charge of the Group ' s business expansion, operation management and intellectual properties business implementation in Asia. Mr. Kam has extensive management experience in the cultural and tourism industry, and has nearly 30 years of experience in operating world-class multinational brands and cross-business in Hong Kong and Mainland China. Mr. Kam joined The Coca-Cola Company in 1988 and had held various management positions in Coca-Cola China. Mr. Kam served as managing director of Hong Kong Disneyland from August 2008 to March 2016. He served as the president of Wanda Theme Entertainment Co. Ltd. from September 2016 to January 2019. Furthermore, Mr. Kam also successively held various positions including the chief representative of the Hong Kong Tourism Board in Beijing, Mainland China, the vice president of Yeo Hiap Seng (Singapore) Kam received his bachelor's degree in accountancy from Dalhousie University in 1984, followed by a master's degree in business management from Dalhousie University in 1986. Mr. Kam was awarded Gold Award for Quality Management by the Hong Kong Management Association in 2014. During his eight-year tenure at Hong Kong Disneyland, Hong Kong Disneyland received more than 300 industry recognitions in Hong Kong and Asia. Mr. Kam was a member of the Tourism Strategy Advisory Committee of the Hong Kong Special Administrative Region Government. He launched Hong Kong's first diploma course in "Theme Park Management" with the Open University of Hong Kong (currently known as the Hong Kong MetropolitanUniversity) to provide training courses for theme park talents in the Asia-Pacific region. Recent Insider Transactions • May 27
Non-Executive Director recently bought HK$1.9m worth of stock On the 20th of May, Xuguang Wang bought around 340k shares on-market at roughly HK$5.71 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought HK$180m more in shares than they have sold in the last 12 months. Valuation Update With 7 Day Price Move • May 24
Investor sentiment improved over the past week After last week's 17% share price gain to HK$6.07, the stock trades at a trailing P/E ratio of 24.3x. Average forward P/E is 23x in the Hospitality industry in Hong Kong. Total returns to shareholders of 310% over the past three years. Reported Earnings • May 02
Full year 2021 earnings released: EPS: CN¥0.21 (vs CN¥0.36 loss in FY 2020) Full year 2021 results: EPS: CN¥0.21 (up from CN¥0.36 loss in FY 2020). Revenue: CN¥2.46b (up 111% from FY 2020). Net income: CN¥844.9m (up CN¥2.30b from FY 2020). Profit margin: 34% (up from net loss in FY 2020). Over the next year, revenue is expected to shrink by 38% compared to a 38% growth forecast for the restaurants industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 47% per year, which means it is well ahead of earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Non-Executive Director Jun Wang was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improved over the past week After last week's 25% share price gain to HK$5.00, the stock trades at a trailing P/E ratio of 19.2x. Average forward P/E is 20x in the Hospitality industry in Hong Kong. Total returns to shareholders of 213% over the past three years. Reported Earnings • Mar 29
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥0.21 (up from CN¥0.36 loss in FY 2020). Revenue: CN¥2.46b (up 111% from FY 2020). Net income: CN¥844.9m (up CN¥2.30b from FY 2020). Profit margin: 34% (up from net loss in FY 2020). The move to profitability was primarily driven by higher revenue. Revenue missed analyst estimates by 5.9%. Earnings per share (EPS) also missed analyst estimates by 79%. Over the next year, revenue is expected to shrink by 18% compared to a 53% growth forecast for the restaurants industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Recent Insider Transactions • Dec 15
Executive Director recently bought HK$264k worth of stock On the 9th of December, Cheng Qu bought around 100k shares on-market at roughly HK$2.64 per share. In the last 3 months, they made an even bigger purchase worth HK$25m. Insiders have collectively bought HK$98m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Dec 02
Executive Director recently bought HK$550k worth of stock On the 26th of November, Cheng Qu bought around 200k shares on-market at roughly HK$2.75 per share. In the last 3 months, they made an even bigger purchase worth HK$25m. Insiders have collectively bought HK$95m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Nov 16
Executive Director recently bought HK$2.4m worth of stock On the 12th of November, Cheng Qu bought around 900k shares on-market at roughly HK$2.71 per share. In the last 3 months, they made an even bigger purchase worth HK$25m. Insiders have collectively bought HK$95m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Oct 26
Executive Director recently bought HK$7.9m worth of stock On the 21st of October, Cheng Qu bought around 5m shares on-market at roughly HK$1.57 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Sep 30
First half 2021 earnings released: CN¥0.069 loss per share (vs CN¥0.22 loss in 1H 2020) The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: CN¥1.32b (up 307% from 1H 2020). Net loss: CN¥277.2m (loss narrowed 68% from 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 116 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 29
First half 2021 earnings released: CN¥0.069 loss per share (vs CN¥0.22 loss in 1H 2020) The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: CN¥1.32b (up 307% from 1H 2020). Net loss: CN¥277.2m (loss narrowed 68% from 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance. Announcement • Jul 25
Haichang Ocean Park Holdings Ltd. Provides Earnings Guidance for the Six Months Ended June 30, 2021 Haichang Ocean Park Holdings Ltd. provided earnings guidance for the six months ended June 30, 2021. For the period, the group expected to record net loss of no more than RMB 300 million. Reported Earnings • May 01
Full year 2020 earnings released: CN¥0.36 loss per share (vs CN¥0.006 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: CN¥1.17b (down 58% from FY 2019). Net loss: CN¥1.45b (down CN¥1.48b from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 27
Full year 2020 earnings released: CN¥0.36 loss per share (vs CN¥0.006 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: CN¥1.17b (down 58% from FY 2019). Net loss: CN¥1.45b (down CN¥1.48b from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 98 percentage points per year, which is a significant difference in performance. Announcement • Mar 17
Haichang Ocean Park Holdings Ltd. to Report Fiscal Year 2020 Results on Mar 26, 2021 Haichang Ocean Park Holdings Ltd. announced that they will report fiscal year 2020 results on Mar 26, 2021 Is New 90 Day High Low • Jan 26
New 90-day high: HK$0.58 The company is up 40% from its price of HK$0.41 on 28 October 2020. The Hong Kong market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 16% over the same period. Is New 90 Day High Low • Oct 29
New 90-day low: HK$0.41 The company is down 16% from its price of HK$0.48 on 31 July 2020. The Hong Kong market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 11% over the same period. Reported Earnings • Sep 25
First half earnings released Over the last 12 months the company has reported total losses of CN¥757.5m, with losses widening by 461% from the prior year. Total revenue was CN¥2.04b over the last 12 months, down 8.1% from the prior year. Announcement • Aug 22
Haichang Ocean Park Holdings Ltd. to Report First Half, 2020 Results on Aug 27, 2020 Haichang Ocean Park Holdings Ltd. announced that they will report first half, 2020 results on Aug 27, 2020 
