MBK Partners completes acquisition of four Haichang Ocean Parks

Hi-Hygan, a platform enterprise positioned as a platform for tourism, culture and leisure industry, was officially unveiled on December 24, marking the completion of the acquisition of four projects of Wuhan, Chengdu, Tianjin and Qingdao Ocean Theme Park under Haichang Ocean Park Holdings Co., Ltd. (2255.HK, hereinafter referred to as "Haichang Ocean Park"). At the same time, the new platform announced that it has appointed CEO Gao Jie and the management team to promote the sustainable growth of the platform.

Pursuant to an agreement between Haichang Ocean Park and a company under MBK Partners, MBK Partners completed the acquisition of 100% of Haichang Ocean Park's ocean theme park in Wuhan, Chengdu, Tianjin and Qingdao, and will acquire a 66% stake in the project under construction in Zhengzhou. Haihean and Haichang Ocean Park will cooperate in various aspects, give full play to their respective superior resources, and promote cooperation projects to fully release their growth potential.

The projects of Haichang Ocean Park that have been acquired have been in operation for more than 10 years, enjoy a mature customer base in the local area, and maintain continuous performance growth.

It is understood that Hi-Hyan will use the capital strength and management experience of MBKPartners to seize the historical opportunity of the transformation of China's cultural tourism industry from a resource-based investment led by real estate development to a service-oriented investment led by product operation. MBK Partners has extensive investment experience in the cultural tourism industry and has promoted the strategic upgrading of many portfolio companies, including long-term holding and building Universal Studios Osaka into one of the most popular tourist attractions in Asia, and currently investing in and operating cultural tourism assets such as Accordia Next Golf and Golfzon County, the largest golf course chains in Japan and South Korea.

Gao Jie has more than 10 years of experience in investment development and management of cultural tourism projects. Since 2015, he has served as Executive Director and Executive President of Haichang Ocean Park and President of Haichang Group.