Haichang Ocean Park completes share subscription, reshapes board

Haichang Ocean Park Holdings Ltd. successfully completed its share subscription on October 17, 2025, allotting 5.1 bn subscription shares to the subscriber at HK$0.45 per share. This transaction represents approximately 38.60% of the company's issued share capital post-completion. The net proceeds of approximately HK$2.284 bn will be allocated to daily operations, core business development, and debt repayment.

Following the completion, there have been significant changes to the board composition. Mr. Qu Naijie resigned as an executive director and CEO but has been redesignated as a non-executive director. Executive directors Mr. Li Kehui, Mr. Wang Xuguang, Mr. Go Toutou, and Mr. Yuan Bing have also resigned.

New appointments effective October 17, 2025, include Mr. Yu Faxiang, Mr. Ouyang Ming, and Mr. Zhan Xinwei as executive directors, with Mr. Yu Faxiang also assuming the roles of CEO and chairman of the board. Mr. Lai Zhilin and Ms. Yu Honghua have been appointed as non-executive directors. Additionally, Mr. Qu has resigned as an authorised representative, replaced by Mr. Zhan.