Mainland China theme park operator applies for listing in Hong Kong
Company operates Millennium City Park in Kaifeng, a life-size recreation of a famous painting from the Northern Song dynasty
Kaifeng Millennium City Park Inc., the operator of a theme park based on a famous Chinese painting dating back to the Northern Song dynasty, has submitted an initial public offering (IPO) application in Hong Kong, following similar moves by other mainland China non-tech plays recently.
The company’s Millennium City Park in Kaifeng, Henan province, offers a physical, life-size recreation of Along the River During the Qingming (Ching Ming) Festival, it said in the prospectus it filed to the Hong Kong stock exchange on Monday.
A report by the Institute for Theme Park Studies in China said there were 90 “super-large and large” domestic theme parks in 2024, five more than in 2023, but visitor numbers were down 1.76 per cent year on year and revenue was 3.74 per cent lower.
Kaifeng Millennium City Park saw its operating revenue growth slow last year, rising 0.6 per cent to 746 million yuan (US$110.4 million), while net profit was down 23.7 per cent at 212 million yuan.