Business
Golden Heaven Group Holdings Ltd. Announces Financial Results for Fiscal Year 2023
NANPING, China, Feb. 15, 2024 /PRNewswire/ -- Golden Heaven Group Holdings Ltd. (the "Company" or "Golden Heaven") (Nasdaq: GDHG), an amusement park operator
About this update from Golden Heaven Group Holdings Ltd.
[{"type":"text","content":"NANPING, China, Feb. 15, 2024 /PRNewswire/ -- Golden Heaven Group Holdings Ltd. (the \"Company\" or \"Golden Heaven\") (Nasdaq: GDHG), an amusement park operator in China, today announced its financial results for the fiscal year ended September 30, 2023. \n\nMs. Qiong Jin, the CEO and Chairman of the Company, commented, \"This 2023 fiscal year marked a period of resilience for the Company. Our parks experienced decreases in park attendance, mainly due to facility safety maintenance from June 2023 to September 2023, which had a notable impact on our immediate financial performance. Despite such challenges, we pursued collaborations with major amusement parks in China. We believe that our successful listing on Nasdaq in April 2023 helped us to accelerate our market expansion in China. Looking forward, we will strive to satisfy customers' entertainment needs and enhance our reputation. We are also dedicated to expanding our presence in the industry and unlocking value for all our stakeholders.\"\nFiscal Year 2023 Financial Highlights \nTotal revenue was $31.8 million in fiscal year 2023, compared to $41.8 million in fiscal year 2022.Gross profit was $19.3 million in fiscal year 2023, compared to $30.2 million in fiscal year 2022. Gross margin was 60.76% in fiscal year 2023, compared to 72.19% in fiscal year 2022.Income from operations was $10.7 million in fiscal year 2023, compared to $21.2 million in fiscal year 2022.Net income was $6.5 million in fiscal year 2023, compared to $14.3 million in fiscal year 2022.Earnings per share was $0.13 in fiscal year 2023, compared to $0.29 in fiscal year 2022.Fiscal Year 2023 Financial Results\nRevenue \nFor the Year EndedSeptember 30, 2023\nFor the Year Ended September 30, 2022\nUSD\n%\nUSD\n%\nSales of in-park recreation\n30,115,995\n94.74 %\n$\n39,377,906\n94.23\n%\nRental income\n1,514,697\n4.77 %\n1,089,435\n2.61\n%\nPark service fees\n156,110\n0.49 %\n1,320,855\n3.16\n%\nTotal revenue\n31,786,802\n100.00 %\n41,788,196\n100.00\n%\n \nOur revenue was derived from sales of in-park recreation, rental income, and park service fees. The total revenue was $31.8 million in fiscal year 2023, decreased by 23.93% from $41.8 million in fiscal year 2022. Such decrease was primarily attributable to the decrease in sales of in-park recreation and park service fees. \nOur revenue from each of our reven...