Golden Heaven Group Holdings Ltd. Enters into a Collaboration Agreement with Zigong City Dragon Culture & Arts Co. Ltd.

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Mar 19, 2024, 08:00 ET

NANPING, China, March 19, 2024 /PRNewswire/ -- 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."

About Golden Heaven Group Holdings Ltd.

Golden Heaven Group Holdings Ltd. manages and operates six properties consisting of amusement parks, water parks, and complementary recreational facilities. With approximately 426,560 square meters of land in the aggregate, these parks are located in geographically diverse markets across the south of China and collectively offer approximately 139 rides and attractions. Due to the geographical locations of the parks and the ease of travel, the parks are easily accessible to an aggregate population of approximately 21 million people. Since September 30, 2023, Mangshi Jinsheng Amusement Park, which is one of the six parks, has been temporarily closed. The parks provide a wide range of exciting and entertaining experiences, including thrilling rides, family-friendly attractions, water attractions, gourmet festivals, circus performances, and high-tech facilities. For more information, please visit the Company's website at https://ir.jsyoule.com/.

Forward-Looking Statements

This press release contains "forward-looking statements". Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "could," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "propose," "potential," "continue" or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the U.S. Securities and Exchange Commission.

For investor and media inquiries, please contact:

Golden Heaven Group Holdings Ltd.
Email: [email protected]

Ascent Investor Relations LLC
Phone: +1-646-932-7242
Email: [email protected]

SOURCE Golden Heaven Group Holdings Ltd.