Golden Heaven Group Holdings Ltd. reported fiscal year 2024 financial results with revenue of $22.3 million, down 29.7% from $31.8 million in FY2023, and a net loss of $1.8 million compared to net income of $6.5 million last year. The decline was primarily due to temporary park closures and weather impacts affecting tourist volumes.The company has initiated a strategic transformation by signing long-term lease agreements for five of its amusement parks with Fuzhou Yibang Amusement Park Co. in Q4 2024. Under these 10-year agreements, the parks will generate annual rental income starting from RMB102 million ($14.6 million) with 2% annual increases, marking a shift toward an asset-light business model.The company strengthened its balance sheet with $19.8 million in cash and cash equivalents as of September 30, 2024, up from $246,000 last year. Additionally, Golden Heaven secured new financing through private placements and warrant exercises, demonstrating continued investor confidence in its business transformation strategy.

Golden Heaven Group Holdings Ltd. reported fiscal year 2024 financial results with revenue of $22.3 million, down 29.7% from $31.8 million in FY2023, and a net loss of $1.8 million compared to net income of $6.5 million last year. The decline was primarily due to temporary park closures and weather impacts affecting tourist volumes.The company has initiated a strategic transformation by signing long-term lease agreements for five of its amusement parks with Fuzhou Yibang Amusement Park Co. in Q4 2024. Under these 10-year agreements, the parks will generate annual rental income starting from RMB102 million ($14.6 million) with 2% annual increases, marking a shift toward an asset-light business model.The company strengthened its balance sheet with $19.8 million in cash and cash equivalents as of September 30, 2024, up from $246,000 last year. Additionally, Golden Heaven secured new financing through private placements and warrant exercises, demonstrating continued investor confidence in its business transformation strategy.