China Tourism Group Weighs Deal for Haichang Theme Parks.

China Tourism Group Corp. is exploring a potential deal to acquire control of Haichang Ocean Park Holdings Ltd.'s iconic theme parks in China. The state-backed tourism company is considering various options, including purchasing a stake in Haichang, making a take-private offer, or acquiring individual theme parks. While Haichang has seen increased visitor numbers, per-trip spending has decreased, leading to net losses since the pandemic. Haichang operates seven theme parks in China, including one in Shanghai that competes with Disneyland, and is planning to expand overseas with a theme park in Saudi Arabia by 2030. [Extracted from the article]