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Golden Heaven Group Holdings Ltd. (the "Company" or "Golden Heaven") (NASDAQ:GDHG), an amusement park operator in China, today announced that on March 11, 2024, it entered into a collaboration agreement (the "Agreement") with Zigong City Dragon Culture & Arts Co. Ltd., ("Zigong Culture"), a company engaged in various commercial, cultural and artistic activities in China.
Under the Agreement, Golden Heaven agrees to lease certain land and property for Zigong Culture, to host a range of outdoor activities. These activities include seasonal excursions, extracurricular activities, physical competitions, and talent shows. Zigong Culture will compensate the Company with an aggregate lease payment of RMB 8.73 million, payable quarterly, ensuring a steady revenue stream over the contract period from March 11, 2024 to March 10, 2025.
Mr. Jin Xu, the CEO and Chairman of the Company, remarked, "This collaboration with Zigong Culture marks a milestone in our ongoing efforts to diversify visitor experiences and optimize property management. We are committed to providing exceptional entertainment and recreational activities that meet the needs of our customers. We expect this collaboration to bring an increasing flow of visitors and add to our operational revenues. We look forward to a fruitful collaboration that promises sustainable growth for our shareholders."
Posted In: GDHG
