GALASYS PLC 9 February 2015
Galasys PLC
("Galasys" or "The Group")
New Contract Wins
Galasys secures Movie Town in Haikou and Cultural Tourism Zone in Nanshan, China
Galasys PLC, a leading provider of ticketing systems and solutions to the fast growing theme park industry in Asia , is pleased to announce new contract wins with a total value of approximately GBP 323,000, at current exchange rates.
These contracts have been awarded by Movie Town at Mission Hills in Haikou, one of China's unique film tourism sites and Cultural Tourism Zone in Nanshan, one of the National Civilized Scenery Tourist Area, both located within the province of Hainan, China.
Hainan province is known as the "Eastern Hawaii" and the province received 40.6 million overnight visitors in 2014, an increase of 10.6% year-on-year. Its tourism revenue rose 13.2% from 2013 to RMB 48.5 billion (c. GBP 5 billion) in 2014, according to latest figures released by the Hainan Statistics Bureau.
Movie Town at Mission Hills , Haikou
Situated within the glorious Mission Hills in Haikou, the USD 300 million Movie Town is a three-way collaboration between China's premier leisure and lifestyle conglomerate, Mission Hills Group, Feng Xiaogang - the only Chinese film director to be imprinted on Hollywood's Walk of Fame, and China's biggest movie producer, Huayi Brothers Media.
The "utopian" style project covers 1,400 acres of land and is divided into seven major areas including the Walk of Fame ala Hollywood, 1942 Republic Street, Nanyang Street, and Socialism Street. The facility includes vintage street settings from Feng's most famous movies, state-of-the-art film studios, an array of shopping and dining options and other entertainment and leisure features.
Terms of the Contract
Galasys will deliver both of its front-end and back-end systems starting 10 February 2015. The total contract value is RMB 1,200,000 ( c. GBP 127,000) and includes3 years of software maintenance.
Nanshan Cultural Tourism Zone , Nanshan
Located 40km from the city centre of Sanya, Nanshan Cultural Tourism Zone is one of the existing 50 National Civilized Scenery Tourist Area Demonstration Sites of China. These sites are promoted and launched by the government in order to preserve scenic resources and create tourist activities in the country.
The Nanshan Cultural Tourism Zone is divided into three main parks. The Cultural Tourism Zone is a showcase of Buddhism at its best, as deep philosophical and inspirational themes are reflected in various buildings such as Narayanan Temple, Nanshan Sanya Guanyin statue and Ten Tallinn Park.
Terms of the Contract
Galasys will deliver both of its front-end and back-end systems starting 10 February 2015. The total contract value is RMB 1,851,740 ( c. GBP 196,000) and is inclusive of 2 years software upgrade and maintenance.
Commenting on the announcement, Mr. Seah, Chief Executive of Galasys, said:
"We are delighted to start the new year with two new significant projects in China to consolidate our position as the leader in the premier segment of the theme-park ticketing market in China.
These wins further underline the Group's on-going execution of the two-pronged strategy of expanding its market share in China and South East Asia and expanding into other verticals of the leisure and entertainment space."
Enquiries:
Galasys PLC | + 6032858 9959 |
Teh Kim Seng - Non-executive Chairman Sean Seah - Chief Executive Officer | |
WH Ireland (Nominated Advisor & joint broker) | 0207 220 1666 |
Adrian Hadden/Mark Leonard | |
Newgate (Financial PR) | 0203 653 9850 |
Adam Lloyd/Heather Armstrong/Jasper Randall |
About Galasys
www.galasystec.com
Galasys is a leading integrated and modular amusement park solutions and services provider to premier amusement parks in China and South East Asia. Through its proprietary systems, the Group provides amusement park operators with the ability to sell, manage and analyse tickets, visitors, merchandise sales and other amusement park operations. It has been operating since 2005 and supplies solutions and services to more than 100 amusement parks in China and South East Asia. The Group has invested more than 50 man-years in R&D and owns the intellectual properties to its software and systems. The Group's first ticketing management system contract was awarded in 2005 by Chime Long Group. The Group currently employs and retains more than 140 people across Asia.
This information is provided by RNS
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