Songcheng Performing Arts expands overseas markets to raise 1.6 billion yuan to bet on Australia theme parks

on March 14, Songcheng Performing Arts released a plan to raise no more than 4.017 billion yuan from no more than five specific targets. Among them, 1.615 billion yuan will be used to raise funds for the "legendary Kingdom of Australia" project, which is also the first overseas theme park project for Songcheng Performing Arts.

original title: Songcheng Performing Arts 1.6 billion bets overseas projects

since the beginning of this year, Songcheng performing arts capital has acted frequently, and the pace of "going out" has been gradually accelerated. On March 14, Songcheng Performing Arts released a plan to raise no more than 4.017 billion yuan from no more than five specific targets. Among them, 1.615 billion yuan will be used to raise funds for the "legendary Kingdom of Australia" project, which is also the first overseas theme park project for Songcheng Performing Arts.

according to the plan, the project is a wholly owned project in Songcheng with a total investment of 2.021 billion yuan and landed on the Gold Coast of Queensland, Australia. The main construction contents will include entrance Square, Oriental Secret theme Park, Australian Legend theme Park, Color Zoo and so on. Among them, the Oriental Secret theme Park will focus on oriental culture, which will make reference to Hangzhou Songcheng Scenic spot and launch a large-scale performance "Oriental Show". The Australian Legend theme Park focuses on Australian aboriginal culture and will build performing arts theaters, including large-scale performances such as "Legend of Australia" and "Phantom of Gold", as well as cultural and leisure projects such as Cook Avenue, Aboriginal Culture Square, Gold Rush Town, Dream Street and so on.

from the perspective of construction content, overseas projects of Songcheng Performing Arts do not have derivative formats such as real estate, housing or hotels. Similar to domestic projects, cost recovery basically depends on the ticket revenue of paradise and performing arts. Wanda Group is also planning to build a theme park on Australia's Gold Coast, which will be accompanied by a real estate project. In this regard, Li Baiwen, a professor at Beijing Union University, said that if Songcheng Performing Arts is not supported by a strong domestic flow of people, in the case of high operating costs and short return cycle, it is more difficult to rely on ticket revenue for return on investment.

Songcheng Performing Arts said that the performing arts market on the Gold Coast is basically blank, and tourists' demand for diversified tourism and vacation products is very high. Its combination of Eastern and Western cultures can meet the needs of all kinds of tourists and form differential competition with the existing local amusement theme parks. However, the problem of lack of IP brand culture in domestic theme parks still exists in Songcheng performing arts project. Li Baiwen said that the success of Songcheng Performing Arts projects in China is based on the understanding of the needs of the domestic market and the ability to control the channels. In the environment with Chinese characteristics, Songcheng Performing Arts mainly does the historical and cultural performing arts of the past, but when foreign countries prefer to explore the future, Songcheng model has some problems in catering to the aesthetic taste of foreign tourists. In addition, performing arts shows generally need a lot of human resources, but in the case of expensive foreign manpower, the cost of this aspect also needs to be solved in Songcheng.

Song Cheng Performing Arts has also said that there are certain differences in Australian national laws, policy systems, and business environment between Australia and China, which will be a new challenge for the company, and the company needs to be familiar with and adapt to the overseas business and cultural environment. Avoid the related risks in the process of operation. In addition, analysts also stressed that operating large-scale theme park projects abroad will face a greater risk of compensation for safety accidents. Songcheng Performing Arts also mentioned that as the company's tourism, cultural and performing arts programs are all indoor performances, operational accidents may occur due to the failure of theater facilities and other reasons. The amusement theme park operated by the company has a variety of large-scale amusement equipment, and natural and human factors may also lead to accidents caused by the failure of the operation of large-scale amusement equipment. The safety of equipment operation is directly related to the personal safety of tourists and the reputation of the company, and the occurrence of safety accidents will directly have a negative impact on the company's operation and brand.

Edit: nancy