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Golden Heaven Group Holdings Ltd. (Nasdaq: GDHG) is an offshore holding company operating through its subsidiaries in China. The company manages six properties including amusement parks, water parks, and complementary recreational facilities. These parks, located across southern China, collectively offer nearly 159 rides and attractions, catering to both thrill-seekers and families alike. The company generates revenue from entrance fees, special event rentals, and commercial tenant rents.
In 2023, Golden Heaven marked a significant milestone by listing on NASDAQ, which has enhanced its business development, corporate governance, and risk management practices. The listing also attracted talents and strengthened partnerships and supply chain networks. The company's strategic focus for 2024 includes improving operations, enhancing internal controls, and developing competitive services to deliver returns to shareholders.
Despite some challenges in 2023, including a decrease in park attendance due to maintenance activities, the company reported a revenue of $31.8 million. Golden Heaven also announced several strategic initiatives, including a share repurchase program and collaboration agreements with Zigong City Dragon Culture & Arts Co. Ltd. and Nanping City Dacheng Culture Communication Co., Ltd. These partnerships aim to diversify visitor experiences and optimize property management.
Looking ahead, Golden Heaven plans to launch 30 to 50 indoor amusement parks in Indonesia in collaboration with PT BESTAR JAYA, an Indonesian trading company. This partnership signifies the company's entry into the international market, aiming to deliver quality entertainment experiences globally.
For more updates and detailed financial information, please visit the company's website at https://ir.jsyoule.com/.
Golden Heaven Group Holdings (Nasdaq: GDHG) has announced a strategic partnership through its subsidiary Nanping Golden Heaven with Dacheng Culture and Fuzhou Yibang to develop wedding photography and light show projects in Tongling and Changde cities, China. The 6-month cooperation agreement aims to create an entertainment complex targeting young couples and romantic partners.
Under the agreement, Nanping Golden Heaven will coordinate and supervise operations while participating in profit sharing. Dacheng Culture will handle professional photography and light show activities, while Fuzhou Yibang will provide the venues. The company views this collaboration as a new model for themed entertainment projects in China's amusement park market, targeting young couples seeking latest fashion trends and innovative experiences.
Golden Heaven Group Holdings (Nasdaq: GDHG) announced that its subsidiary, Nanping Golden Heaven Amusement Park Management, has signed a RMB15 million (US$2.1 million) service agreement with Fuzhou Yibang Amusement Park. The agreement involves providing a comprehensive amusement park management software suite and three years of maintenance services.
The software package includes ticket sales, membership management, event planning, data analytics, and custom modules. Fuzhou Yibang, which currently leases four amusement parks from Golden Heaven, will receive system optimization, trouble-solving, and ongoing support services as part of the maintenance package.
Golden Heaven Group Holdings (Nasdaq: GDHG), a Chinese amusement park operator, announced securing a US$25.2 million investment through a private placement of 20 million Class A Ordinary Shares. The company may issue up to 10 million additional shares if certain operational targets aren't met by September 2027. The proceeds will fund park acquisitions, upgrades, and maintenance.
The agreement includes warrants for investors to purchase up to 40 million Class A Ordinary Shares at US$1.386 per share, expiring in five years. Additionally, the company amended existing warrants to US$1.386 exercise price, with current holders agreeing to exercise their warrants immediately.
Golden Heaven Group Holdings (Nasdaq: GDHG) announced the postponement of its new recreation and amusement complex opening at Yunhe Sanwan Scenic Spot in Yangzhou City, China. Originally scheduled for October 2024, the opening has been delayed to the Spring Festival in 2025 (end of January 2025) due to equipment installation delays, construction issues, and plans for additional enhancements. The company aims to leverage the high foot traffic during Chinese New Year to maximize visitor enjoyment and revenue opportunities.
Golden Heaven Group Holdings (Nasdaq: GDHG), a Chinese amusement park operator, has secured land use rights for a 26,000-square-meter plot in Yangzhou's Yunhe Sanwan Scenic Spot. The company plans to launch a new recreation and amusement complex at this site, with operations expected to begin in October 2024. The location's proximity to the Beijing-Hangzhou Grand Canal offers significant advantages.
Additionally, Golden Heaven has extended its partnership with Dacheng Culture through a one-year collaboration agreement valued at RMB1.2 million. This agreement involves leasing land and property to Dacheng Culture for various cultural activities. The partnership aims to enhance the cultural depth and entertainment value of the park while expanding market influence.
Golden Heaven Group Holdings (GDHG), a Chinese amusement park operator, has received a delisting determination from Nasdaq due to failure to meet the $1.00 minimum bid price requirement. The company's stock price was $0.12 as of August 8, 2024. Golden Heaven plans to appeal the decision by August 16, 2024, which will temporarily stay the suspension of its securities. If unsuccessful, the company's Class A ordinary shares will be suspended from trading on August 20, 2024. Golden Heaven is considering various options, including a reverse stock split, to address the situation and maintain its Nasdaq listing.
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