Golden Heaven Group Holdings Reports 76.53% Decrease in In-Park Recreation Sales for First Half of Fiscal Year 2025

Reuters
12 Jul
<a href="https://laohu8.com/S/GDHG">Golden Heaven</a> Group Holdings Reports 76.53% Decrease in In-Park Recreation Sales for First Half of Fiscal Year 2025

Golden Heaven Group Holdings Ltd. (Nasdaq: GDHG), an amusement park rental operator in China, reported its unaudited financial results for the first half of fiscal year 2025. The company recorded a significant decrease in revenue from sales of in-park recreation, which fell by $9.79 million, or 76.53%, compared to the same period in 2024. This decrease was attributed to the transition from operating amusement parks to leasing them to third-party operators starting in November and December 2024. In contrast, rental income increased significantly to $5.16 million for the six months ended March 31, 2025, compared to $1.03 million in the same period the previous year. The total reportable segment revenue for the first half of 2025 was $8.16 million. The segment gross profit for the period was $3.22 million, with a gross margin of 39.44%. This compares to a gross profit of $6.15 million and a gross margin of 48.09% in the first half of 2024. In addition to the financial results, the company announced that Mr. Michael John Viotto resigned as an independent director on March 6, 2025, citing personal reasons. His resignation was not due to any disagreement with the company. Golden Heaven also entered into a service agreement with Fuzhou Yibang, providing a comprehensive amusement park management software suite and three years of maintenance services in exchange for a service fee of approximately $2.1 million.

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