looks like revenue should increase this year IMO. hiring is up as well.
Our revenue was derived from (i) sales of in-park recreation, (ii) rental income, and (iii) park service fees.
The total revenue decreased by US$10,001,394, or 23.93%, from US$41,788,196 for the year ended September 30, 2022 to US$31,786,802 for the year ended September 30, 2023. Such decrease was primarily attributable to the decrease in sales of in-park recreation and park service fee. Revenue from sales of in-park recreation decreased mainly because (i) Mangshi Jinsheng Amusement Park was initially closed for electrical maintenance from November 2022 to April 2023, and (ii) all the other parks experienced decreases in park attendance due to facility safety maintenance from June 2023 to September 2023. Park service fees decreased mainly because a fewer number of gourmet festivals and circus performances were held in the parks during the fiscal year of 2023. Some of the special events held in the 2022 fiscal year were organized by the local government to help the business during the COVID-19 pandemic, and there was less of such government help in the fiscal year of 2023.
The total revenue increased by US$3,270,454, or 8.49%, from US$38,517,742 for the year ended September 30, 2021 to US$41,788,196 for the year ended September 30, 2022. Such increase was primarily attributable to the increase in sales of in-park recreation and park service fees. Since fiscal year 2022, the Chinese government has eased the COVID-19 restrictions and taken measures to promote the economic recovery, including issuing consumption vouchers and allowing free admission to certain scenic spots. As a result, the mobility of people increased, which contributed to the increase in sales of in-park recreation.
Bullish
