Show business in Jiuzhai suspended due to earthquake
Show business in Jiuzhai suspended due to earthquake
Songcheng announced that show businesses in Jiuzhaigou (JiuzhaiRomantic show and the Mystery of Tibet) will start to suspend operationin August 9 due the recent earthquake.
Note that On the evening of August 8, an earthquake struck JiuzhaigouCounty in Sichuan Province in China.
Limited effect on Songcheng's total performance in 2017
To recap, Jiuzhai project generated revenue of RMB149m in 2016, whichcontributed 5.65% of Songcheng's total revenue of RMB 2.64bn.
The company also disclosed that Jiuzhai project contributed 7% of totalnet earnings in 2016.
Therefore, the company believe that the earthquake will have limitedeffect on Songcheng's 2017 total topline and bottomline due to Jiuzhai'slow contribution.
Please also note that as of August 8, the revenue of Jiuzhai project wasc. RMB97m, which accounts for 65% of its revenue in 2016.
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