HAICHANG HLDG (02255) plans to establish a joint venture company to exclusively operate the Beijing HAICHANG HLDG project.

HAICHANG HLDG (02255) announced that its wholly-owned subsidiary, Beijing HAICHANG HLDG Co., Ltd., has signed a joint venture cooperation agreement with Beijing Easy Pass Chip Enterprise Management Co., Ltd., a wholly-owned subsidiary of Beijing Tongzhou Urban Construction Operation Group Co., Ltd., to establish a joint venture company responsible for the exclusive operation of the Beijing HAICHANG HLDG project (Beijing project). According to the agreement, the joint venture company will exclusively operate the Beijing project using the "HAICHANG HLDG" brand; the Group will provide the joint venture company with the necessary biological assets for project operation and charge a leasing service fee for the biological assets to the joint venture company; the joint venture company will have a long-term operating period. The contract also specifies the joint venture company's articles of association, governance structure, board of directors, financial management, and other contents. The Beijing project is located in the northern industrial belt of the cultural and tourism area of Beijing's urban sub-center, adjacent to the Beijing Universal Studios Resort (Beijing Universal) and the Gaojiajin Station of Beijing Subway Line 7, enjoying the aggregation effect of the Beijing Universal area and realizing "exit subway and enter the park." The total construction area of the Beijing project is approximately 160,000 square meters, including a hotel, an oceanarium, and supporting facilities, and is expected to be completed and put into operation by 2027. The Beijing project is a fifth-generation oceanarium that integrates functions such as ecology, science popularization, research and study, interaction, exhibition, art, and themed hotels. The Beijing project has multiple flagship exhibits distributed in 8 major thematic zones, and can conduct various forms of interactive performances, water curtain shows, music and art activities, etc. Currently, the Beijing project has entered the construction phase. The board believes that the Beijing project is the culmination of the Group's more than 20 years of experience in deepening the ocean cultural tourism industry, bringing together top global creativity, technology, and operational wisdom to create a new generation of flagship ocean-themed park benchmark. The Beijing project deeply integrates ocean culture, IP entertainment, and immersive scenes, bringing a comprehensive leap in experience. The establishment of the joint venture company is a key milestone for the Group's cultural tourism services and solution business, not only showcasing the Group's outstanding capabilities in the entire process of theme park design, construction, and operation, but also marking the rapid development of this business and providing a replicable, profitable demonstration template for rapid expansion in core cities across the country, creating multidimensional value for shareholders, partners, and consumers, releasing sustainable growth momentum, and opening a new chapter of high-quality expansion.