Golden Heaven Group (GDHG) Registration Filing summary

Company overview and business model

• Operates as a Cayman Islands holding company with all operations conducted through wholly owned subsidiaries in China, managing amusement parks, water parks, and related recreational facilities.

• Revenue is generated from park admissions, event rentals, and commercial tenant fees, with a focus on both thrilling and family-friendly attractions.

• Corporate structure includes multiple PRC subsidiaries, with no use of a variable interest entity (VIE) structure.

Financial performance and metrics

• Revenue for fiscal years ended September 30: $31.8M (2023), $41.8M (2022), $38.5M (2021).

• Net income for the same periods: $6.5M (2023), $14.3M (2022), $13.6M (2021).

• Park attendance: 1.87M (2023), 2.41M (2022), 2.40M (2021).

Use of proceeds and capital allocation

• Net proceeds from the initial public offering have been used for cash transfers to Chinese operating entities; future use of proceeds will be specified in prospectus supplements.

• No current plans to declare or pay dividends; board retains discretion on future distributions.