Golden Sun Health Technology Group Limited Announces Joint Venture to Enter the Cultural Tourism Market
Golden Sun Health Technology Group (Nasdaq: GSUN) has announced a strategic joint venture (JV) to enter the cultural tourism market in China. The company, through its subsidiary Shanghai Golden Sun Gongyu Education Technology Co., , has established Shanghai Fuyang Cultural Tourism Development Co., This move marks a significant step in Golden Sun's business transformation, aiming to capitalize on China's growing cultural tourism sector.
The JV will focus on planning, design, consulting, and promotion services for cultural tourism projects and products, as well as the development and management of cultural and tourism resources. Golden Sun will hold a 51% equity interest in the JV, partnering with two individuals who bring extensive experience in designing cultural tourism projects across China.
CEO Xueyuan Weng highlighted the tremendous opportunities in the cultural tourism sector, citing increased interest in traditional culture and government support for national cultural revival. The company aims to establish a comprehensive business model within this sector, leveraging its commercial management expertise and its partners' academic resources and project design experience.
Il Golden Sun Health Technology Group (Nasdaq: GSUN) ha annunciato una joint venture strategica (JV) per entrare nel mercato del turismo culturale in Cina. L'azienda, attraverso la sua sussidiaria Shanghai Golden Sun Gongyu Education Technology Co., ha fondato la Shanghai Fuyang Cultural Tourism Development Co. Questo passo segna un'importante fase nella trasformazione aziendale di Golden Sun, che mira a sfruttare il crescente settore del turismo culturale in Cina.
La JV si concentrerà sui servizi di pianificazione, design, consulenza e promozione per progetti e prodotti di turismo culturale, nonché sullo sviluppo e la gestione delle risorse culturali e turistiche. Golden Sun deterrà un 51% di partecipazione azionaria nella JV, collaborando con due individui che portano vasta esperienza nella progettazione di progetti di turismo culturale in tutta la Cina.
Il CEO Xueyuan Weng ha evidenziato le enormi opportunità nel settore del turismo culturale, citando l'aumento dell'interesse per la cultura tradizionale e il supporto del governo per il rilancio culturale nazionale. L'azienda mira a stabilire un modello di business completo all'interno di questo settore, sfruttando la sua esperienza nella gestione commerciale e le risorse accademiche e l'esperienza di progettazione dei progetti dei suoi partner.
Golden Sun Health Technology Group (Nasdaq: GSUN) ha anunciado una empresa conjunta estratégica (JV) para ingresar al mercado del turismo cultural en China. La compañía, a través de su filial Shanghai Golden Sun Gongyu Education Technology Co., ha establecido Shanghai Fuyang Cultural Tourism Development Co. Este movimiento marca un paso significativo en la transformación empresarial de Golden Sun, que busca capitalizar el creciente sector del turismo cultural en China.
La JV se centrará en los servicios de planificación, diseño, consultoría y promoción para proyectos y productos de turismo cultural, así como en el desarrollo y gestión de recursos culturales y turísticos. Golden Sun tendrá una participación del 51% en la JV, asociándose con dos individuos que aportan una amplia experiencia en el diseño de proyectos de turismo cultural en toda China.
El CEO Xueyuan Weng destacó las tremendas oportunidades en el sector del turismo cultural, citando el creciente interés por la cultura tradicional y el apoyo del gobierno para la revitalización cultural nacional. La compañía tiene como objetivo establecer un modelo de negocio integral dentro de este sector, aprovechando su experiencia en gestión comercial y los recursos académicos y la experiencia en diseño de proyectos de sus socios.
골든 선 헬스 기술 그룹(Nasdaq: GSUN)이 중국의 문화 관광 시장에 진출하기 위한 전략적 조인트 벤처(JV)를 발표했습니다. 이 회사는 자회사인 상하이 골든 선 공유 교육 기술 회사(Shanghai Golden Sun Gongyu Education Technology Co.)를 통해 상하이 푸양 문화 관광 개발 회사(Shanghai Fuyang Cultural Tourism Development Co.)를 설립했습니다. 이 움직임은 골든 선의 비즈니스 변혁의 중요한 단계로, 중국의 성장하는 문화 관광 부문을 활용하려는 목적을 가지고 있습니다.
JV는 문화 관광 프로젝트 및 제품에 대한 계획, 디자인, 상담 및 홍보 서비스와 문화 및 관광 자원의 개발 및 관리에 집중할 것입니다. 골든 선은 JV에서 51%의 지분을 보유하며, 중국 전역에서 문화 관광 프로젝트를 설계한 광범위한 경험을 지닌 두 개인과 협력합니다.
CEO 셰위안 웡(Xueyuan Weng)은 문화 관광 부문에서의 막대한 기회를 강조하며, 전통 문화에 대한 관심 증가와 국가 문화 부흥에 대한 정부의 지원을 언급했습니다. 이 회사는 상업 관리 전문성과 파트너의 학문적 자원 및 프로젝트 설계 경험을 활용하여 이 분야 내에서 포괄적인 비즈니스 모델을 구축하는 것을 목표로 하고 있습니다.
Le Golden Sun Health Technology Group (Nasdaq: GSUN) a annoncé une coentreprise stratégique (JV) pour entrer sur le marché du tourisme culturel en Chine. L'entreprise, à travers sa filiale Shanghai Golden Sun Gongyu Education Technology Co., a créé la Shanghai Fuyang Cultural Tourism Development Co. Cette initiative marque une étape significative dans la transformation des activités de Golden Sun, visant à capitaliser sur le secteur croissant du tourisme culturel en Chine.
La JV se concentrera sur les services de planification, de conception, de conseil et de promotion pour les projets et produits de tourisme culturel, ainsi que sur le développement et la gestion des ressources culturelles et touristiques. Golden Sun détiendra une participation de 51% dans la JV, en partenariat avec deux individus ayant une vaste expérience dans la conception de projets de tourisme culturel à travers la Chine.
Le PDG Xueyuan Weng a souligné les énormes opportunités dans le secteur du tourisme culturel, citant l'intérêt croissant pour la culture traditionnelle et le soutien du gouvernement pour le renouveau culturel national. L'entreprise vise à établir un modèle commercial complet dans ce secteur, en s'appuyant sur son expertise en gestion commerciale et les ressources académiques ainsi que l'expérience de conception de projets de ses partenaires.
Golden Sun Health Technology Group (Nasdaq: GSUN) hat ein strategisches Joint Venture (JV) angekündigt, um in den Markt für Kulturtourismus in China einzutreten. Das Unternehmen hat über seine Tochtergesellschaft Shanghai Golden Sun Gongyu Education Technology Co. die Shanghai Fuyang Cultural Tourism Development Co. gegründet. Dieser Schritt markiert einen bedeutenden Fortschritt in der Geschäftstransformation von Golden Sun, mit dem Ziel, vom wachsenden Kulturtourismus-Sektor in China zu profitieren.
Das JV wird sich auf Planungs-, Design-, Beratungs- und Promotionsdienstleistungen für Projekte und Produkte im Kulturtourismus konzentrieren, sowie auf die Entwicklung und das Management von kulturellen und touristischen Ressourcen. Golden Sun wird einen 51%-Anteilswert am JV halten und arbeitet mit zwei Personen zusammen, die umfangreiche Erfahrung in der Planung von Kulturtourismusprojekten in ganz China mitbringen.
CEO Xueyuan Weng hob die enormen Möglichkeiten im Bereich Kulturtourismus hervor und erwähnte das zunehmende Interesse an traditioneller Kultur sowie die Unterstützung der Regierung für die nationale kulturelle Wiederbelebung. Das Unternehmen zielt darauf ab, ein umfassendes Geschäftsmodell innerhalb dieses Sektors zu etablieren, indem es seine Fachkenntnisse im Bereich kommerzielles Management sowie die akademischen Ressourcen und die Projektgestaltungserfahrung seiner Partner nutzt.
- Diversification into the growing cultural tourism sector in China
- Securing 51% equity interest in the joint venture
- Potential for rapid growth in the cultural tourism business
- Leveraging existing expertise in education technology for synergies
- Plans to offer unique one-stop services in China's cultural tourism industry
- None.
Insights
The formation of this joint venture marks a significant pivot for Golden Sun, diversifying from tutorial services into the cultural tourism sector. This strategic move aligns with China's growing domestic tourism market, especially post-COVID-19 and the government's support for cultural revival. The company's
However, investors should note that this represents a substantial shift from Golden Sun's core competency. The success of this venture will depend on how well the company can leverage its partners' expertise and navigate a new industry. While the potential for growth is significant, the risks associated with entering an unfamiliar market should not be underestimated.
This joint venture represents a strategic diversification for Golden Sun, potentially opening up new revenue streams. However, the financial implications remain unclear without specific investment figures or projected returns. Investors should closely monitor future financial reports to assess the impact on the company's balance sheet and cash flow.
The move into cultural tourism could provide a hedge against volatility in the education sector, which has faced regulatory challenges in China. If successful, this diversification could lead to more stable and diverse revenue sources. However, the lack of concrete financial projections or initial investment details makes it difficult to quantify the potential return on investment at this stage.
Golden Sun's entry into cultural tourism is well-timed, given the robust growth of China's domestic tourism market. The partnership with experienced academics from Fudan University adds credibility and expertise to the venture. The focus on planning, design and consulting services for cultural tourism projects positions the JV to capitalize on the increasing demand for unique, culturally-rich experiences.
However, the success of this venture will depend on the JV's ability to differentiate itself in a competitive market. The ambition to provide one-stop services for cultural tourism projects is ambitious and could set the company apart if executed well. Still, building a comprehensive cultural tourism group from scratch will require significant resources and expertise beyond what's currently outlined in the announcement.
SHANGHAI, Aug. 29, 2024 (GLOBE NEWSWIRE) -- Golden Sun Health Technology Group Limited, formerly known as Golden Sun Education Group Limited (the “Company” or “Golden Sun”) (Nasdaq: GSUN), a provider of tutorial services in China, today announced that the Company, through its wholly-owned subsidiary Shanghai Golden Sun Gongyu Education Technology Co., Ltd. (“Gongyu”), has established a strategic joint venture (the “JV”) named Shanghai Fuyang Cultural Tourism Development Co., Ltd. The JV marks a significant milestone in the Company’s ongoing business transformation, aiming to capitalize on the rapidly growing cultural tourism sector in China. The move is expected to further diversify the Company’s revenue streams while leveraging its years’ expertise in education technology to create synergies within the JV.
On August 15, 2024, the Board of Directors of Gongyu unanimously approved an investment to establish the JV, partnering with two individuals who bring profound academic backgrounds, along with extensive experience and resources in designing over a hundred cultural tourism projects across China. The JV will focus on planning, design, consulting, and promotion services for cultural tourism projects and products, as well as the development and management of cultural and tourism resources. Gongyu agrees to invest and secure a
Mr. Xueyuan Weng, Chairman and Chief Executive Officer of the Company, commented, “Amidst the booming growth of China’s domestic tourism market especially in the post-COVID 19 era, with the increasing interest in traditional culture and government support for national cultural revival, we identify tremendous opportunities and potential in the cultural tourism sector. In response, we have developed strategic plans to establish a business presence in the culture tourism activities, acquiring cultural tourism construction projects, and offering planning and consultancy services for such initiatives. Once these key initiatives are established, we will lay the foundation for a comprehensive and integrated business model within this sector.”
Mr. Weng continued, “We believe the JV will fully leverage the strengths of each party involved. We bring commercial management expertise and diversified channels, while our partners, professors from Fudan University, offer deep academic resources and extensive experience in designing cultural tourism projects. By combining these strengths with favorable macroeconomic trends, we anticipate rapid growth in our cultural tourism business. Moreover, this investment aligns perfectly with our forthcoming strategy to build a cultural tourism group that will provide one-stop services, including the planning, design, construction, and operation of cultural tourism projects—which might be a unique offering in China’s cultural tourism industry.”
About Golden Sun Health Technology Group Limited
Established in 1997 and headquartered in Shanghai, China, Golden Sun Health Technology Group Limited, formerly known as Golden Sun Education Group Limited, is a provider of tutorial services in China with over twenty years of experience providing educational services that focus on the development of each of its student’s strengths and potential, and the promotion of life-long skills and interests in learning. Golden Sun has three tutorial centers, one educational company that partners with high schools to offer language classes, and one logistics company that provides logistic and consulting services. The tutorial centers of Golden Sun focus on different groups of targeted students by offering different tutorial programs. For more information, visit the Company’s website at ir.jtyjyjt.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “assesses,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's annual report and other filings with the U.S. Securities and Exchange Commission.
For more information, please contact:
Golden Sun Health Technology Group Limited
Investor Relations Department
Email: ir@cngsun.com
Ascent Investor Relations LLC
Tina Xiao
President
Phone: +1 646-932-7242
Email: investors@ascent-ir.com
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