Carnival Group International Strategically Locates in Fujian Building a Carnival Consumption Resort Complex Project

Carnival Group International Holdings Limited (the “Carnival Group International” or the “Company”, Stock code: 996.HK) is pleased to announce that the Company entered into a framework letter of intent with Luoyuan County People’s Government (“Luoyuan Government”) and Zhongxinfang Huaxia Fujian Industrial Company Limited (“Zhongxinfang Huaxia”), pursuant to which, the parties agreed to jointly invest in and/or develop Luoyuan Bay Blue Harbour Project (Luoyuan Bay Sea Carnival Project) and its related projects (collectively, the “Projects”) in Luoyuan County, Fujian Province, the People’s Republic of China.

 

According to the Framework Letter of Intent, the planned total investment for the Projects shall involve RMB 10.4 billions and the total site area of the Projects shall be approximately 10,000 mu. The Luoyuan Bay Sea Carnival Project aims at creating a “Carnival Consumption Resort Complex”, which includes a multi-function tourist and business complex, a Sea Carnival integrated project, yacht and seafarers club, port terminal, base for wellness and retirement life, film and television production base, virtual reality base, education and science base, holiday and leisure base and medical center in Luoyuan County.

 

After successfully creating the “Rio Carnival” in Qingdao, the Carnival Group International locates the strategic project at Fujian province, confidently hoping that the tourism in this area would promise a positive future. Statistically, in 2016, Fujian province received a total number of visits of 315 millions, a year-on-year rise of 18.1 per cent and up 4.1 percentage points compared to those of the same period of last year; achieved a total tourism income of RMB 393.516 billions, a year-on-year rise of 25.3 per cent and up 9.3 percentage points compared to those of the same period of last year. These were, in general, 6.4 and 11.7 percentage points respectively higher than the increase rates of national population and income. Meanwhile, Luoyuan Bay – connected to Ningde, Wenzhou in the North and Fuzhou, Xiamen in the South – is competitively located for easy access. Besides, it is only 58 kilometers from Fuzhou Changle International Airport and 65 kilometers from Fuzhou urban area; direct airlines to Hong Kong, Japan, Singapore and so on have already come into operation; a network of highways and railways has also been developed. In short, the transportation in Luoyuan Bay is convenient in all senses.

 

Upon signing of the strategic framework agreement, the Board believes this project will serve as a demonstration for taking other projects in the future, with a view to fostering economic development in the Fujian province, as well as creating both social and economic benefits. Meanwhile, provided that the Company has entered into the Framework Letter of Intent, a substantial strategic move can be made towards developing a carnival consumption resort complex providing one-stop services, further helping increase our corporate values and maximizing returns to our shareholders.