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GDHG

GOLDEN HEAVEN GROUP HOLDINGS LTD.

GDHG

GOLDEN HEAVEN GROUP HOLDINGS LTD. • NASDAQ
$4.21 ▲ 0.72% (+0.03)
Market Cap $159.59 M
52w High $1968.38
52w Low $2.40
Dividend Yield 0%
P/E 0
Volume 1.53K
Outstanding Shares 37.91M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $8.158M ▼ $13.199M ▲ $-10.635M ▼ -130.366% ▼ $-610.97 ▼ $-7.75M ▼
Q4-2024 $8.509M ▼ $6.363M ▲ $-4.341M ▼ -51.012% ▼ $-1.76 ▼ $-1.88M ▼
Q2-2024 $13.824M ▲ $3.661M ▼ $2.544M ▲ 18.403% ▲ $4.12 ▲ $5.893M ▲
Q4-2023 $11.726M ▼ $4.559M ▲ $-865.634K ▼ -7.382% ▼ $-1.401 ▼ $2.295M ▼
Q2-2023 $20.061M $4.029M $7.415M 36.963% $12.42 $11.867M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $67.769M ▲ $126.134M ▲ $12.432M ▼ $113.703M ▲
Q4-2024 $19.83M ▲ $98.554M ▲ $14.839M ▼ $83.716M ▲
Q2-2024 $129.417K ▼ $82.916M ▲ $18.625M ▼ $64.291M ▲
Q4-2023 $245.908K ▼ $82.227M ▲ $21.177M ▼ $61.051M ▲
Q2-2023 $28.263M $80.649M $21.846M $58.803M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-10.635M ▼ $15.416M ▲ $201.74K ▲ $32.601M ▲ $47.939M ▲ $15.416M ▲
Q4-2024 $-4.341M ▼ $-2.1M ▼ $-61.45K ▼ $20.381M ▲ $19.701M ▲ $-2.162M ▼
Q2-2024 $2.544M ▲ $-911.646K ▲ $1.03M ▲ $-72.544K ▼ $-116.491K ▲ $-924.874K ▲
Q4-2023 $-865.634K ▼ $-25.252M ▼ $-7.911M ▼ $6.796M ▲ $-28.017M ▼ $-33.163M ▼
Q2-2023 $7.415M $5.91M $0 $-899.965K $5.816M $5.91M

Five-Year Company Overview

Income Statement

Income Statement Revenue has been fairly small and has inched down rather than up in recent years, which is a concern for a growth story. Profitability at the business level has been positive but slim, and reported earnings per share swung from comfortably positive to negative most recently, likely reflecting a mix of weaker profits and the impact of going public and changing share count. In plain terms, the business is not losing a lot of money on operations, but it also is not yet showing strong or consistent profit growth, and the trend in per‑share results has moved in the wrong direction lately.

Balance Sheet

Balance Sheet The company runs with a relatively light balance sheet: assets and shareholder equity have gradually increased, while debt has stayed modest. Cash levels have moved around but are not alarming, suggesting some financial flexibility but not a deep cash cushion. Overall, the balance sheet does not look heavily burdened by borrowings, which reduces financial risk, but the asset base is still small, underscoring the company’s limited scale and the importance of careful capital allocation as it expands parks and services.

Cash Flow

Cash Flow Cash generation has been uneven. Some years the core business has produced cash, other years it has consumed it, and free cash flow has bounced between slightly positive and slightly negative. Investment spending on parks and related assets has been present but not extreme. This pattern points to a business that can sometimes fund itself but does not yet have a strong, steady cash engine, so execution on new projects and the stability of the leasing and software income will matter a lot for future cash health.

Competitive Edge

Competitive Edge Golden Heaven focuses on smaller, regional amusement parks in less crowded cities, avoiding head‑to‑head battles with the largest global and domestic brands. This niche approach, combined with a shift toward leasing parks to third‑party operators, aims to create a leaner, more predictable business. The emerging software and management services offering gives the company a way to monetize its operational know‑how beyond its own parks, which could deepen relationships with partners and make its position more defensible. Still, it operates in a highly discretionary, seasonal industry where local competitors and changing consumer tastes can quickly erode advantages.

Innovation and R&D

Innovation and R&D The main innovation push is not just new rides, but technology and services around park management. Their proprietary software platform for ticketing, memberships, events, and data analytics moves the company toward a more tech‑enabled model and provides a scalable service it can sell to other operators. They are also experimenting with differentiated in‑park experiences, such as cultural and photography partnerships, to broaden appeal and increase spending per visitor. Planned new parks with more modern, electric facilities and talk of building unique themes and intellectual property suggest ongoing innovation, but these projects bring execution risk and will need to prove they can draw consistent attendance and partner demand.

Summary

Golden Heaven is a small, regional amusement park operator trying to evolve into a lighter, more diversified platform that combines park assets, leasing, and technology services. Financially, it shows modest operations, a relatively clean but small balance sheet, and choppy cash flows, with recent pressure on earnings per share. Strategically, its focus on lower‑tier cities, asset‑light leasing, and park management software offers a clear differentiation path and potential for more stable income over time. The key uncertainties are whether new parks open and ramp successfully, whether software and management contracts can scale beyond a few partners, and how resilient regional leisure demand will be in a competitive and economically sensitive market.