Zhongshan Jinma Technology and Happy Valley Group held the signing ceremony for a strategic cooperation agreement and signed the strategic cooperation framework agreement in the headquarters of OCT Group on December 28, 2020. The signing ceremony was attended by Mr. Deng Zhiyi, president of Jinma Technology, Mr. Liu Xiwang, general manager of Jinma Technology, Mr. Liu Guanhua, assistant president of OCT Group and president of Happy Valley Group, Mr. Li Kehui, party secretary and general manager of Happy Valley Group, operation and management teams of both parties, and relevant department heads.

It is said that based on the common understanding and comprehensive in-depth communication and exchanges, the two sides have reached strategic cooperation on the R&D of themed amusement products and the integration and development of the industry under the cooperation principles of equality, mutual benefit, resource sharing, and complementary advantages. They plan to jointly independently innovate and develop high-end themed entertainment products to meet people's demands for a better life in the new era and promote the formation of domestic and international circulations in China's theme park industry.

According to the agreement, both parties will introduce new creativity and technology at the market positioning of Happy Valley Group and the entertainment experience consumption demand of target customers, and develop and innovate main entertainment products. Specifically, it includes:

(1) Introduce the latest technology to upgrade the existing amusement equipment.

(2) Integrate customized new development into Happy Valley Group’s IP content amusement products.

(3) Cooperation in the development of new creative projects or products such as film and television interactive experience projects with the theme content of traditional culture and red culture, which are created by the latest audio-optoelectronic technology, digital technology, and electromechanical integration technology.

In terms of building an industrial development platform for theme parks, both sides will actively respond to the requirements of the new national development pattern of "double circulation" and jointly promote the domestic substitution of high-end entertainment products. They will jointly exert their respective advantages, integrate industry resources, develop entertainment projects with Chinese characteristics as IP content, and introduce international advanced audio-optoelectronic technology and amusement projects, so as to meet people's theme entertainment consumption demand with high quality. The two sides will also jointly promote domestic theme park brands to the world and enhance the international influence of domestic theme parks, as well as making full use of the Internet, the Internet of things, and 5G technology to create an Internet platform for the theme park industry.

According to Jinma Technology, the signing of the strategic cooperation framework agreement is beneficial to them both, so they can play their respective advantages. The two sides will conduct in-depth cooperation in domestic high-end amusement technology innovation, product research and development, domestic theme park planning and construction, operation management and other fields and integrate industrial resources, leading the sustainable and healthy development of the industry, and promoting the common growth and integrated development of the industry.

Liu Guanhua, assistant to the president of Shenzhen Overseas Chinese Town Co., Ltd. and chairman of Happy Valley Group, pointed out that under the background of the new development paradigm of "double circulation", the signing ceremony is a milestone for the two parties to further deepen practical cooperation. He hopes that the two parties will work together to develop a strong alliance, a broad development platform with complementary advantages, to create a win-win situation and achieve high-quality development, and contribute to the innovative development of China's theme park industry.

Subsequently, President Deng Zhiyi thanked Happy Valley Group for its long-term trust and support for Jinma Technology. He pointed out that in the face of people's new demand for tourism products, the cultural tourism industry needs to break through innovation and complementary cooperation. This strategic cooperation highlights the consensus of the two sides on the development of cultural tourism industry. The two sides will combine the advantages of creativity, theme IP, science and technology research and development, jointly create world-class themed amusement products, achieve mutual benefit and win-win results, as well as creating a new landscape of cultural tourism industry.

Happy Valley group is an innovative cultural tourism development platform under OCT Group, a leading enterprise in China's cultural tourism industry, and a pioneer and leading enterprise in China's theme parks. Happy Valley group owns the only well-known trademark in the domestic theme park industry -- Happy Valley. Happy Valley Group is mainly committed to the planning, construction, operation and management of Happy Valley, Maya Beach and other chain theme park products, innovative research and development, investment, and acquisition of quality theme entertainment products. The three core businesses of large-scale theme cultural tourism comprehensive projects are expanded through management output.

After the signing ceremony, the two sides made a visit to Shenzhen Happy Valley to have an in-depth exchange of ideas on the equipment renovation and renewal plan for the parks of Happy Valley Group. (2021/1&2, 194G)