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Haichang Ocean Park Holdings Ltd.
(2255)
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Rating:44Neutral
Price Target:
HK$0.31
▼(-36.25% Downside)
Action:Reiterated
Date:05/21/26
Overall score is driven down primarily by weak financial performance (widening losses, negative operating/free cash flow, and elevated leverage). Technicals are mixed with a modest short-term lift but a longer-term downtrend, while valuation is difficult to justify given negative earnings and no dividend data.
Positive Factors
Diversified revenue model
Haichang monetizes visitors across admissions, food & retail, and resort-related services. This multi-channel revenue mix provides structural resilience versus single-product operators, allows margin enhancement through ancillary spending, and supports durable cash generation per visitor when attendance normalizes.
Negative Factors
Persistent negative cash flow
Negative operating and free cash flows show the business is not self-financing and is burning cash. Sustained cash deficits increase reliance on external funding, constrain maintenance and capex for parks, and heighten liquidity risk over multiple quarters unless cash generation structurally improves.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified revenue model
Haichang monetizes visitors across admissions, food & retail, and resort-related services. This multi-channel revenue mix provides structural resilience versus single-product operators, allows margin enhancement through ancillary spending, and supports durable cash generation per visitor when attendance normalizes.
Read all positive factors
Haichang Ocean Park Holdings Ltd. (2255) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$4.16B
Dividend YieldN/A
Average Volume (3M)77.54M
Price to Earnings (P/E)―
Beta (1Y)0.59
Revenue Growth-14.70%
EPS Growth-14.56%
CountryHK
Employees2,842
SectorConsumer Cyclical
Sector Strength84
IndustryLeisure
Share Statistics
EPS (TTM)-0.10
Shares Outstanding13,214,002,000
10 Day Avg. Volume34,495,500
30 Day Avg. Volume77,535,580
Financial Highlights & Ratios
PEG Ratio-0.42
Price to Book (P/B)1.37
Price to Sales (P/S)2.42
P/FCF Ratio-8.28
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.03
Revenue Forecast (FY)HK$1.66B
Haichang Ocean Park Holdings Ltd. Business Overview & Revenue Model
Company Description
Haichang Ocean Park Holdings Ltd., together with its subsidiaries, engages in developing and constructing theme parks in the People’s Republic of China. It operates in three segments: Park Operations, Operation as a Service, and Property Developme...
How the Company Makes Money
The company primarily makes money by selling access to and experiences within its ocean park destinations and by monetizing visitor spending once inside the parks. Key revenue streams include: (1) Park admission and related ticketing: sales of ent...
Haichang Ocean Park Holdings Ltd. Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
38
Negative
Cash Flow
18
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.55B | 1.82B | 1.82B | 792.99M | 2.46B |
| Gross Profit | 303.63M | 418.96M | 457.45M | -278.73M | 721.26M |
| EBITDA | -201.49M | 51.65M | 489.27M | -777.76M | 317.11M |
| Net Income | -955.88M | -739.72M | -197.26M | -1.40B | 844.85M |
Balance Sheet | |||||
| Total Assets | 10.79B | 10.34B | 11.52B | 10.21B | 11.72B |
| Cash, Cash Equivalents and Short-Term Investments | 1.15B | 136.52M | 1.81B | 1.35B | 3.21B |
| Total Debt | 5.97B | 6.19B | 6.30B | 5.27B | 5.25B |
| Total Liabilities | 7.62B | 8.52B | 9.00B | 7.53B | 7.89B |
| Stockholders Equity | 2.75B | 1.72B | 2.42B | 2.62B | 3.77B |
Cash Flow | |||||
| Free Cash Flow | -453.15M | -369.16M | -805.06M | -716.33M | 61.95M |
| Operating Cash Flow | -216.06M | 121.59M | 533.56M | 1.24M | 221.06M |
| Investing Cash Flow | -204.88M | -1.20B | -863.93M | -1.65B | 3.24B |
| Financing Cash Flow | 1.41B | -573.04M | 809.45M | -338.34M | -2.59B |
Haichang Ocean Park Holdings Ltd. Technical Analysis
Negative
0.48
Price Trends
0.37
Negative
0.44
Negative
0.54
Negative
Market Momentum
-0.02
Positive
39.33
Neutral
8.03
Positive
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 0.48 is above the 20-day moving average (MA) of 0.34, above the 50-day MA of 0.37, and below the 200-day MA of 0.54, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 39.33 is Neutral, neither overbought nor oversold. The STOCH value of 8.03 is Positive, 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
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | HK$198.46B | 13.83 | 69.31% | 0.44% | 185.41% | 308.79% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | HK$951.28M | -2.63 | -8.76% | 9.09% | -39.09% | 5.19% | |
56 Neutral | HK$4.94B | 141.42 | 9.09% | ― | 0.91% | -30.36% | |
50 Neutral | HK$5.87B | -24.56 | -0.27% | 25.45% | -11.91% | -366.49% | |
44 Neutral | HK$4.16B | -2.92 | -45.76% | ― | -14.70% | -14.56% | |
44 Neutral | HK$135.17M | -4.56 | -26.46% | ― | 12.34% | -8.02% |
* Consumer Cyclical Sector Average
HK:2255
Haichang Ocean Park Holdings Ltd.
0.32
-0.49
-60.63%
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347.83%
Haichang Ocean Park Holdings Ltd. Corporate Events
Haichang Ocean Park Wins Shareholder Backing for All AGM Resolutions and Capital Mandates
Jun 30, 2026
Haichang Ocean Park Holdings reported that all resolutions at its annual general meeting on 30 June 2026 were approved by shareholders via poll, including adoption of the 2025 audited financial statements and reappointment of HLB Hodgson Impey Che...
Haichang Ocean Park Sets 2026 AGM to Renew Board Mandates and Share Issuance Authority
Apr 29, 2026
Haichang Ocean Park Holdings has called an annual general meeting for 30 June 2026 in Shanghai, where shareholders will review and adopt the audited financial statements for the year ended 31 December 2025. The agenda also includes re-election of ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.