2000，The Chinese Dinosaur Park, which took three years to build, is officially open to the public；

2006 China Dinosaur Park Phase II Lubra Opening，Explosive growth in tourists；

In 2010, China Dinosaur Park officially became a national 5A tourist attraction；

In 2013, Dinosaur Park investment and operator Dinosaur Park Co., Ltd. transformed into cultural tourism investment、Operation and overall solution provider；

In 2014, Dinosaur Park Co., Ltd. established a digital technology and landscape design company，Carry out main scenic area equipment and landscape planning and design business；

In 2015, Shen Bo, chairman of Dinosaur Park Co., Ltd., expressed his intention to escape from the theme park，Transformation to modular entertainment，Building a leading enterprise in China’s modular entertainment industry。

Dinosaur Park is facing the new situation in the industry，Decisively adjust development strategy，Actively develop new business，And leverage capital market financing support，What are the current highlights worth looking forward to？Let’s take a closer look。

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The Yangtze River Delta region is the area with the highest concentration of theme parks in China，It is also one of the areas with the highest innovative vitality of domestic theme parks，The competition is very fierce。There are no less than a dozen large theme parks in Jiangsu, Zhejiang and Shanghai within a radius of 200 kilometers from Shanghai，Including Wuhu Fantawild Adventure、Suzhou Paradise、Wuxi Three Kingdoms City、Water Margin、Shanghai Happy Valley、Hangzhou Songcheng、Anji Hello Kitty Park, etc.，Plus other projects in preparation，Nearly 20 different theme parks or projects will open in this area in the future。

High-density theme park distribution creates fierce product competition，New and old competitors hope to use new ideas to impress tourists who are gradually falling into aesthetic fatigue。As China’s oldest national theme park，Changzhou Chinese Dinosaur Park takes dinosaurs as its core theme，After 16 years of hard work，has become one of the best and most popular theme parks in China。In the latest "2015 Global Theme Park Ranking" jointly released by TEA, an authoritative organization for the international theme park and attractions industry, and AECOM, a consulting group，Changzhou Chinese Dinosaur Park is among them，Ranked 13th in Asia，No. 4 in Mainland China。

August 2016，Changzhou Dinosaur Park launches transformation product，The world's first modular entertainment product "Dinosaur Club" officially debuted in Changzhou Global Dinosaur City Tourist Resort，Its light, small and modular product model has attracted much attention in the industry。Dinosaur Park has transformed from a single theme park operation 188bet online sports betting to a comprehensive tourism product investment and operation service provider covering traditional scenic spots + emerging businesses + innovative businesses，Dinosaur brand as the core product of modular entertainment business，Belongs to the emerging business sector。

The "Dinosaur Club" is divided into three floors，The overall area is about 8500m2，Includes Dinosaur Club themed restaurant、Live CS、Escape Room、Nine categories of experience content including Jurassic golf:

The first floor is the first dynamic environmental art themed restaurant in China - Dinosaur Man Themed Restaurant；

The second floor is a leisure and social area，Contains glow-in-the-dark bowling ball、Billiards、Jurassic Mini Golf、Various theme and style party rooms and other leisure and entertainment projects；

The third floor is the entertainment project area，Live CS including various themes、Haunted House、Escape Room、Multiple entertainment projects such as mirror maze，Among them are the tomb robbing series of secret room projects authorized by the most popular "Third Uncle of the Southern School"。

Different from ordinary home entertainment centers，“Dinosaur Club” better caters to the personalized social entertainment needs of young people。In the next 3-5 years，The Dinosaur Club will continue to be upgraded and launched 2.0、3.0 or even 4.0 version，Will lay out urban commercial complex、Around theme parks and scenic spots。From youth social life to parent-child life、Silver hair、Derived from pan-social platforms such as women’s and health sports social networking，The Dinosaur Club will accelerate its deployment nationwide。Different from traditional theme park heavy asset investment，Minimized “module entertainment” will become the fulcrum，Leverage a new cultural tourism and entertainment market worth hundreds of billions。

[Dinosaur Club is a derivative business development move after the company successfully operated the "DINOMAN" brand，Business model based on chain operations，Take mini park as the basic form，Entertainment modules with built-in diverse combinations of innovative social entertainment products。】

The main business of Dinosaur Park Company is developing slowly，Strategic transformation to find growth points

Changzhou Dinosaur Park is a restaurant with dinosaur theme as its core cultural element，Provide consumers with popular science education through the two main lines of theme parks and cultural creativity and derivatives、Cultural experience、Cultural enterprise of entertainment products and related services。Its main business includes dinosaur theme parks、Related animations and derivatives, etc.。

The controlling shareholder of Changzhou Dinosaur Park is Longcheng Tourism Holding Group Co., Ltd. (hereinafter referred to as "Longkong Group")，holds 55% equity。Longkong Group is a wholly-owned subsidiary of Changzhou Municipal People’s Government，The actual controller is Changzhou State-owned Assets Supervision and Administration Commission。Also，Hongyicheng Technology、Ye Yuan Investment、Zijin Culture holds 15% respectively、10%、5% equity。

A China Dinosaur Park passenger flow and revenue data obtained by a reporter from China Real Estate News，2009~2011，The passenger flow is 181.660,000 people、253.450,000 and 266.970,000 people，Income is 2.0.2 billion yuan、3.7.1 billion yuan and 4.7.4 billion yuan。In 2013, its passenger flow was more than 3 million，Operating income is close to 500 million yuan。The plan 188bet online sports betting for 2014 is to achieve 500 million yuan。Profit can reach tens of millions of yuan every year，Its profitability is at a high level in the entire industry。

Nearly 80% of the Dinosaur Park’s revenue is from tickets，Others are catering and cultural derivatives。According to data，Many domestic theme parks account for a very high proportion of ticket revenue，The proportion of income from China Dinosaur Park other than tickets is considered relatively high in the domestic theme park industry，But there are still challenges to achieve further growth in overall income。

Compared to one year ago，The company’s total assets increased from 13 in 2014.8.8 billion yuan dropped to 12 in March 2016.6 billion yuan。In the company’s semi-annual report，Total assets as of the end of June 2016 further dropped to 12.1.7 billion yuan。The company’s profits have been relatively stable in the past three years，Both operating income and net profit maintained steady growth from 2013 to 2015，Income is 4.1.4 billion yuan、4.4.5 billion yuan、4.7.9 billion yuan，Net profit is 46.73 million yuan respectively、61.64 million yuan、63.41 million yuan。

Profitability in 2016 semi-annual report is slightly weak。During the reporting period，The company’s operating income is 1.7.8 billion yuan，The increase is only 0.03%，However, its net profit fell sharply by 60% year-on-year.03%。The company explained this，The main reason for the decline in net profit is that the company’s theme park business suffered from labor costs、Cost of sales、Due to the impact of multiple factors such as rising management costs。

Exiting the industry is hotly discussed，Transformation and development of "minimized modular entertainment"

In 2013, the company made it clear that it would transform from a pure theme park operator，Transform into "investment、Service and overall solution operator”。In 2014, the company established its own landscape design company and digital technology company，Carry out the planning of theme scenic spots respectively、Planning、Manufacture of facilities and equipment integrating design and liberal arts、R&D and Service。

Company Chairman Shen Bo thinks，“China Dinosaur Park is the first in the industry to make noises about escaping from theme parks，Because we have been deeply aware of the changes in the development pattern of domestic theme parks，We will develop five major business segments derived from the single business of pure theme park operation。There is already cultural tourism attraction operation business、Business around cultural and tourist attractions，There is also a social entertainment business、Theme hotel business、Travel e-commerce, etc.。” “The development model of Dinosaur Park，This is the most suitable development model for China’s theme parks。Look abroad，Disney’s development path is clear at a glance，There was the image of Mickey Mouse，More content，That is, cartoon，Then the experience of the paradise，Finally make money from the derived commodities and culture，But this model does not work in China。China’s animation industry does not have a clear profit model，Good image works have not gone far because of insufficient intellectual property protection。So，Let’s make the park first，I went back and made the cartoon "Dinosaur Baby"，Consolidate the foundation of experience with content，Then extending the theme park value chain，From a single dinosaur park to a one-stop tourist destination, Global Dinosaur City，This experience can 188bet Online Sports Betting and Casino be replicated in other places in China。”

In the company’s current development plan，Dinosaur Park has 5 business sectors，This also represents several development trends of future theme scenic spots。

In the company’s current development plan，Dinosaur Park has 5 business sectors，This also represents several development trends of future theme scenic spots。

The first thing is to solidify the operation business of cultural tourist attractions，It is a scenic spot project similar to Dinosaur Park，Possible future investment and services through output，Achieve simultaneous operation of 10-15 cultural tourism attractions including theme parks。

The second is to expand business around theme parks，By exporting planning to other tourist attractions、Design、Development and other professional technologies，Meanwhile，Enlarge existing movies and animations、Cultural and performing arts、Advantageous resources in digital technology and scenic spot market development，Realizing service expansion。

The third is the innovative development module entertainment industry，Launching the new “DINOMAN CLUB”——Dinoman Club，This is not just an effective extension of the Dinosaur Park brand，It is also in line with the "minimization" of theme parks、A business in the development trend of “entertainment”，How to make project investment scale smaller、More flexible location selection、Module expansion combination is more convenient、More replicable？This is the core of the company’s innovative module entertainment business development。

The fourth is to extend the theme hotel business，Explore the "scenery + accommodation" market resources，Fully unleash the brand and value effects of tourist attractions，Meanwhile，Formulate and promulgate the "China Theme Hotel Service Standards"。

The fifth is to actively integrate and develop tourism Internet business，Promote O2O、Online、Offline market linkage and resource optimization。

Traditional theme parks are built according to large and comprehensive standards，In the face of increasingly tense land parks and changes in urban pattern，The future theme park industry is gradually evolving more and more innovative variants，Among them, maximization and minimization are the more obvious trends。

Maximization means that some theme parks develop into theme park resorts。Big means big brand，The tourism-related industries are highly integrated。Big brands such as Disney and Universal Studios in the United States，This type of theme park contains hotels、Retail、Catering、A series of mature industry chain supporting facilities such as entertainment，Tourists visiting the resort，Usually need to arrange a few days of travel。In addition, the proficiency of foreign giants in operating resorts、Experience and technology degree，To be honest, no company in China can match it。

The trend of minimization is the modularization of themes and projects，Like PULUPULU in Shanghai，Mostly indoor theme parks。This type of theme park has precise positioning and clear themes，Deeply cultivating theme culture can better meet the entertainment needs of fragmented time in the short-distance market。Minimization is actually a combination of small module entertainment，The purpose is how to convert the experience class、Social、Extract some elements of entertainment，Rearrange and combine to form a moderate scale，Moderate investment，But comply with market needs，Flexible for change、Flexible combination，Highly replicable、A product with strong 188bet app download embeddability。Small module entertainment, embeddable and strong，Can be embedded into various spatial carriers in the city，No longer rely on large areas of land space，It is also a complement to the existing commercial complex and theme park、Update。Every city may have a small theme park in the future，Close market within one hour of radiation。

In the future, the company’s modular entertainment will have projects ranging from 80 to 100 locations across the country。Recent Dinosaur Club、Dinosaur theme hotel and "Crazy Dinosaur" show，Three main products will form the company's first generation modular entertainment product - "Dinosaur Man"，This will also be the company’s true start of the “dinosaur man” era。The fifteen years of development ahead，It can be said that China Dinosaur Park has made the company a first-class investment operator in the theme park era。The next fifteen years will begin the company’s “dinosaur man” era。Change the character "园" into the character "人"，The most important concept that personifies an enterprise。And dinosaur people also mean two core words: human wisdom and dinosaur power，That is, wisdom plus strength，Practice and carry forward the entertainment spirit of the times。

What is the purpose of listing-raising funds for theme park expansion，Modular entertainment project development

Late September this year，After Dinosaur Park submitted its application for GEM listing to the China Securities Regulatory Commission，Pre-disclosed prospectus。The company plans to raise funds 3.8.4 billion，Used for the construction of multiple investment projects:

Dinosaur Park plans to implement several hardware infrastructure construction and renovation projects，The goal is to use the limited space in the park to eventually create a flagship park comparable to world-class theme parks。The second phase of the reconstruction and expansion of Lubra Water World and the reconstruction and expansion of the Dinosaur Park Rainforest Area are the most critical projects in this investment project，When completed, construction will contribute to the evening Dinosaur Park seasonal product mix，Improve the overall technical content of the park’s entertainment projects，More suitable for tourists’ needs for play experience。

Module entertainment is the company’s key business for the next development。The company summarizes many years of theme park development experience，Use innovative thinking，Follow the trend of experiential consumption，Highlight the topic、Highly participatory、Improvement of traditional entertainment and social experience projects that combine education and fun、Improvement or new creation and design，Currently, the Dinosaur Club flagship store has been launched in Changzhou。188bet online sports betting In the next two years, the company will operate on the basis of the Dinosaur Club flagship store，By raising investment project funds, build two or three Dinosaur Clubs in surrounding major cities。The Dinosaur Man Club will become an effective carrier for the external promotion of the "Dino Man" and "Chinese Dinosaur Park" brands，It is helpful for the company to enhance its visibility and business scale。

Theme park planning and design and landscape engineering、Content production and derivatives development、Integrated R&D and integration of liberal arts、Theme interpretation is an important part of the development and operation of mountaineering theme parks and cultural tourism，All based on cultural creativity，Both products and services can face the market independently。188bet online sports betting In the next two years, the company will integrate existing derivatives development and theme performing arts resources，Innovate to create better quality、More innovative derivatives and cultural performing arts works，External market expansion and internal control costs，Improve business scale and profitability。

After more than ten years of development and operation of China Dinosaur Park，The company already owns a number of product and service trademarks，The company will choose 2~3 potential markets in the next 2 years，Through brand authorization and operation management services，Expand the scope of influence of the company’s brand value。In more than two years since “asset-light expansion” was proposed in 2013，Dinosaur Park shares have been sold to more than 100 theme parks in more than 30 provinces and cities、Resort and commercial district project，Output Management、Intelligence、Team、Experience and brand model，Realize comprehensive output and expansion from products to services。From "Luo Meng Global Paradise" in Ningbo, Zhejiang，To the "Western Dinosaur Park" in Lanzhou, Gansu，Everyone is involved in the operation of Dinosaur Park Shares。

Currently, the company is actively preparing to jointly develop an aerospace exploration center with Beijing Aviation Science Group，Create a science popularization in the aerospace field、Scientific Research、Education、An expo that never ends in exhibitions and other aspects。Culturally，Dinosaurs are stationed at the front end of human culture，Aerospace is facing the future。From dinosaurs to humans，To the future of spaceflight，Culture and technology run through the main line of the company’s development。

Longkong Group has strong tourism assets，When mature, it can be injected into the Dinosaur Park to increase revenue and profit scale

The company’s controlling shareholder, Longkong Group, total assets 114.4.3 billion，Net worth 29.7.5 billion yuan。Other companies controlled by Longkong Group are listed below:

The main hot spring hotel from Longkong Group、Looking at the operation status of the Salt Lake City project，Currently still in a state of loss or small profit，The overall profitability is not high，Longkong Group still needs to invest manpower and financial resources to improve efficiency。As the main tourism assets of Longkong Group gradually reduce losses and increase profitability in the future，Dinosaur Park may become the group’s main asset integration platform。Chinese Dinosaur Park+Dinosaur Club+Dinosaur Valley Hot Spring+Oriental Salt Lake City，The overall asset size will enter the domestic first-tier tourism group。

Can Dinosaur Park leverage the capital market to achieve strategic expansion，Let’s wait and see。

*This article is published with the authorization of Zhihui strategic partner Fushi Investment，Author Zhou Xiao。Fushi Investment is the top tourism industry research and investment platform in China，its product Fushi Culture and Tourism Think Tank，Committed to building the most trustworthy tourism industry and tourism investment management think tank。Regularly releases in-depth research reports on the tourism industry，Share investment information，Provide professional data。

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