Haichang Ocean Park Holdings Ltd. (2255) AI Stock Analysis

• Market Cap: HK$6.28B
• Dividend Yield: N/A
• Average Volume (3M): 77.54M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.66
• Revenue Growth: -8.83%
• EPS Growth: -393.39%
• Country: HK
• Employees: 3,267
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Leisure
• EPS (TTM): -0.04
• Shares Outstanding: 13,214,002,000
• 10 Day Avg. Volume: 34,495,500
• 30 Day Avg. Volume: 77,535,580
• PEG Ratio: -0.02
• Price to Book (P/B): 2.48
• Price to Sales (P/S): 2.35
• P/FCF Ratio: -11.56
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 40 Underperform
• Price Target: HK$0.50 ▲(6.38% Upside)

The overall stock score is primarily driven by significant financial challenges, including net losses, high leverage, and liquidity issues. Technical analysis confirms a bearish trend with weak market momentum. Valuation metrics further highlight the company's struggles, with a negative P/E ratio and no dividend yield.

Positive Factors

Business Model Strength

The company's focus on family-oriented entertainment and marine education positions it well in the leisure industry, appealing to a broad audience and supporting long-term engagement.

Revenue Diversification

Diverse revenue streams from admissions, retail, and partnerships reduce reliance on a single income source, enhancing financial resilience.

Environmental Sustainability

The company's dedication to sustainability and conservation aligns with global trends, potentially attracting environmentally conscious consumers and partners.

Negative Factors

High Leverage

High leverage increases financial risk and limits flexibility, potentially impacting the company's ability to invest in growth opportunities.

Negative Cash Flow

Inability to generate positive cash flow suggests liquidity issues, hindering the company's capacity to fund operations and capital expenditures.

Declining Revenue Growth

Erratic revenue growth indicates challenges in maintaining consistent market demand, which could affect long-term financial performance.

Haichang Ocean Park Holdings Ltd. Business Overview & Revenue Model

Company Description

Haichang Ocean Park Holdings Ltd., together with its subsidiaries, develops, constructs, and operates theme parks and ancillary commercial properties in the People's Republic of China. It operates in three segments: Park Operations, Operation as a Service, and Property Development. The company owns and operates six theme parks. It also develops and invests in properties; and operates hotels and a small size playground, as well as provides consultancy, management, and recreation services. In addition, the company offers tourism consulting, and construction project design and consulting services. Further, it is involved in goods and technology import and export, marine biotechnology development, financing lease, and property management business; property development, construction, and sales activities; and the provision of technical support services relating to aquarium. The company was formerly known as Haichang Holdings Ltd. and changed its name to Haichang Ocean Park Holdings Ltd. in July 2015. Haichang Ocean Park Holdings Ltd. was founded in 2001 and is headquartered in Shanghai, the People's Republic of China.

How the Company Makes Money

Haichang Ocean Park Holdings Ltd. generates revenue primarily through ticket sales for park admissions, annual memberships, and seasonal passes, which provide access to its various attractions and events. In addition to direct ticket revenue, the company earns significant income from food and beverage sales, merchandise retail, and sponsorship deals within the parks. The company also engages in educational programs and partnerships with schools and organizations, providing workshops and field trips that further enhance its revenue. Seasonal events, special shows, and attractions also contribute to revenue, creating additional opportunities for income generation throughout the year.

Haichang Ocean Park Holdings Ltd. Financial Statement Overview

Summary

Haichang Ocean Park Holdings Ltd. faces substantial financial challenges with declining income, high leverage, and liquidity issues. The company has a negative net profit margin, high debt-to-equity ratio, and zero operating cash flow, indicating significant financial instability.

Income Statement

The income statement reflects a declining performance with consistent net losses over the years. Gross profit margin stands at 23.03% for 2024, but the company is struggling with negative net profit margins due to significant losses. Revenue growth has been erratic, with a recent slight increase of 0.08% in 2024, but the long-term trend is negative compared to 2019. Negative EBIT and EBITDA in recent years indicate operational challenges.

Balance Sheet

The balance sheet shows a high debt-to-equity ratio of 3.60 in 2024, indicating high leverage. Return on equity is negative due to net losses, reflecting inefficient use of equity. Equity ratio has declined to 16.67%, showing reduced financial stability. However, the company maintains significant total assets, which could be leveraged for future improvements.

Cash Flow

Cash flow statements reveal significant struggles, with zero operating and free cash flow in 2024, indicating liquidity issues. The free cash flow has remained negative or negligible in recent years, suggesting insufficient cash generation to cover capital expenditures and operational needs.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.70B	1.82B	1.82B	792.99M	2.46B	1.17B
Gross Profit	295.80M	418.96M	457.45M	-278.73M	721.26M	-129.25M
EBITDA	-305.78M	51.65M	489.27M	-777.76M	317.11M	-419.25M
Net Income	-950.63M	-739.72M	-197.26M	-1.40B	844.85M	-1.45B
Balance Sheet
Total Assets	10.12B	10.34B	11.52B	10.21B	11.72B	16.42B
Cash, Cash Equivalents and Short-Term Investments	170.21M	136.52M	1.81B	1.35B	3.21B	2.41B
Total Debt	6.08B	6.19B	6.30B	5.27B	5.25B	8.66B
Total Liabilities	8.59B	8.52B	9.00B	7.53B	7.89B	13.42B
Stockholders Equity	1.43B	1.72B	2.42B	2.62B	3.77B	2.93B
Cash Flow
Free Cash Flow	-386.59M	-369.16M	-805.06M	-716.33M	61.95M	-77.19M
Operating Cash Flow	-23.75M	121.59M	533.56M	1.24M	221.06M	117.57M
Investing Cash Flow	-1.21B	-1.20B	-863.93M	-1.65B	3.24B	-413.30M
Financing Cash Flow	-3.90M	-573.04M	809.45M	-338.34M	-2.59B	210.81M

Haichang Ocean Park Holdings Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.47
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2255, the sentiment is Negative. The current price of 0.47 is below the 20-day moving average (MA) of 0.58, below the 50-day MA of 0.68, and below the 200-day MA of 0.73, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 27.25 is Positive, neither overbought nor oversold. The STOCH value of 32.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2255.

Haichang Ocean Park Holdings Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
0308	63 Neutral	HK$7.25B	-163.75	-0.27%	25.65%	-2.45%	-156.34%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
1803	42 Neutral	HK$135.17M	-4.95	-24.34%	―	157.17%	39.38%
2255	40 Underperform	HK$6.28B	-3.71	-50.43%	―	-8.83%	-393.39%

Haichang Ocean Park Holdings Ltd. Corporate Events

Haichang Ocean Park Clarifies Financial Product Concerns

Haichang Ocean Park Holdings Ltd. has issued a clarification regarding media reports about financial products associated with its controlling shareholder, Xiangyuan Holding Group Co., Ltd., which have experienced partial delays in repayment. The company emphasized that these financial products are unrelated to its operations and shares, and it bears no repayment or guarantee obligations. Haichang Ocean Park Holdings Ltd. assures that its current production and operations remain normal, advising shareholders and potential investors to exercise caution when dealing with its securities.

Haichang Ocean Park Reports Revenue Boost Amid Holiday Season

Haichang Ocean Park Holdings Ltd. announced a significant increase in revenue for its Shanghai Haichang Ocean Park, attributed to the autumn holiday in Zhejiang Province and a seventh-anniversary marketing campaign. The park saw a 35.2% year-on-year revenue increase from November 10 to 16, 2025, and a 14.6% increase from November 17 to 23, 2025. The park’s success is linked to its unique marine and Chinese cultural offerings and its ability to adapt to market trends and consumer behavior, further solidifying its position as a leading marine theme park in China.

Haichang Ocean Park Announces Board Changes Amid Past Regulatory Issues

Haichang Ocean Park Holdings Ltd. announced changes to its board composition with the appointment of Mr. Yu Faxiang as an executive director and Mr. Lai Zhilin as a non-executive director. Despite past administrative penalties related to financial reporting issues at Sunriver Culture Tourism, the company’s nomination committee supports their appointments, citing their extensive experience in corporate strategic development and operational management. The committee emphasized that the incident was isolated, with no financial loss to Sunriver Culture Tourism, and both individuals have demonstrated accountability and integrity in addressing the matter.

Haichang Ocean Park Appoints New CFO to Strengthen Leadership

Haichang Ocean Park Holdings Ltd. has announced the appointment of Mr. Zhan Xinwei as the new Chief Financial Officer and Deputy Vice President, effective October 24, 2025. This strategic appointment is expected to enhance the company’s management operations and support its executive team, potentially impacting its market positioning and stakeholder relations positively.

Haichang Ocean Park Completes Major Share Subscription

Haichang Ocean Park Holdings Ltd. has completed a significant subscription of shares, resulting in the issuance of 5.1 billion shares at HK$0.45 each, raising approximately HK$2,284 million. The proceeds will be used to support daily operations, promote core business development, and repay existing debts. This move alters the company’s shareholding structure, with the subscriber now holding a 38.60% stake, impacting the company’s financial stability and market positioning.