“The board is of the view that the cooperation marks significant progress in the group’s benchmark project for ‘going global’ … and is of strategic significance in the company’s internationalisation process,” said Qu Naijie, executive director and chief executive officer of Haichang.
“The cooperation will integrate the advantageous resources of both parties and help the group to establish an international brand, and to build a worldwide leisure and entertainment platform featuring marine culture.”
01:28
Chinese water park swamped with tourists
Chinese water park swamped with tourists
The agency’s stated aim is to facilitate local and international investors’ access to tourism investments across key destinations in Saudi Arabia.
Under the agreement signed in April, Haichang will develop various forms of entertainment venues, such as family entertainment centres, water parks, IP themed parks, zoos and safari parks in various Saudi cities, creating jobs in the process.
Ocean parks typically have venues for animal performances, and other recreational facilities.
It is envisioned that the new Saudi park will become a platform to promote ocean conservation, Haichang said.
Haichang owns and operates parks in the mainland Chinese cities of Dalian, Qingdao, Chongqing, Chengdu, Tianjin, Wuhan and Yantai. It has also licensed its brand to four other parks.
The group is also developing a network of Aquarium and Discovery Centres in China, aiming to have 50 venues by the end of the year.
It reported an overall gross profit of about 202.9 million yuan (US$28.4 million) in the first half of the year, higher by 27.1 per cent than the same period in 2022, according to its latest financial report.