Admission and First Day of Dealings on AIM

12 May 2014


Company Profile


Galasys is an integrated services and solutions provider for the amusement industry in Asia. Our IT solutions and management services are utilized in many of the region's most visited amusement parks and attractions.

Galasys was founded in 2005 in Suzhou, China, by a team of Malaysians. Galasys plc is a holding company for Galasys Solution (MSC) Sdn Bhd, Galasys Technologies (HK) Limited, Galasys Global (Suzhou) Co., Ltd and Green Laser Technology Sdn Bhd (altogether known as "Galasys").

Our services

Galasys specializes in customizing and implementing ticketing, admission control, point-of-sale and e-wallet systems.

We invest heavily in software research and development (R&D). As of 31st December 2013, we own over 37 registered software Intellectual Properties (IPs), reflecting an estimated R&D effort of over 50 man-years.

Galasys has attained ISO 27000 certification and been awarded with High-Tech status in China and MSC status in Malaysia.

Our clients

Galasys clients include medium-to-large amusement parks of all kinds, such as:
•water parks
•theme parks
•zoos
•museums
•kids' education parks
•stadiums
•other attractions

Our markets

We have deployed solutions in over 60 sites across Asia - mainly in China and the South East Asia (SEA) region.

In China, 13 out of the top 20 theme-parks (in terms of visitors) are our clients. These include:
•Chime Long (in Guangzhou and Zhuhai)
•OCT Happy Valley (in Beijing, Chengdu, Wuhan, Shanghai, Tianjin and Shenzhen)
•Changzhou Dinosaur Land
•Shengyang Royal Park

In Malaysia, our clients include:
•Zoo Melaka
•Melaka Wonderland
•Hatten Group
•OWG Haunted Adventure and Ripley's Believe It or Not

http://www.galasystec.com/

Galasys: City broker predicts an exciting ride for investors

By Jamie Ashcroft

July 09 2014, 4:01pm
Galasys has its products installed in 78 sites in Malaysia and China, including 13 of China’s top 20 theme parks and 15 of the 20 largest water parks.


Asia’s booming leisure industry sets the scene for Arden Partner’s latest ‘buy’ recommendation, theme park software group Galasys (LON:GLS).

The City broker has initiated its coverage of the newly listed AIM firm with a 40p price target – which implies near 100% upside to the current price of 20.25p.

Galasys has its products installed in 78 sites in Malaysia and China, including 13 of China’s top 20 theme parks and 15 of the 20 largest water parks.

Asia is the fastest growing region for theme park visitor numbers, according to Arden, which points to stats from the Themed Entertainment Association projecting a 12.5% per year rise in footfall through to 2017.

Galasys’ current stock market valuation doesn’t properly reflect its strong market position in this market or the anticipated level of growth, the broker says.

Having joined AIM in May, alongside a £3.1mln fund raise at 22.5p, the software share has remained fairly steady.

Though Arden now expects the cash injection from the float to spur a considerable period of revenue growth, and with it the share price is expected to follow.

“The group’s recent IPO provided £3.1m gross funding to enable it to increase the range of software and services that it provides to its target markets, and to expand into new territories through South East Asia and beyond,” Arden analyst Ian Mitchell said in a note.

“We expect this to increase the group’s repeat and recurring revenue, which in FY 2013 was 60% of revenue, and to accelerate its earnings growth rates to more than 20% per annum in FY 2015 and FY 2016.”

Mitchell says newsflow has been strong post IPO, with contract wins putting Galasys in 18 new sites.

These contract wins underpin Arden’s forecasts for the current year as well as enhance 2015, the analyst said.

“With 78 sites deployed, Galasys now dominates the market for theme and water park ticketing software in China, with c.70% market share of the leading parks.”

Galasys’ portfolio spans ticketing, point of sales, electronic commerce, e-wallets and customer relationship management. It is software based, not hardware. Each of its top 10 customers takes at least three of its 10 major modules and they continue to buy more every year.

In the five years from 2005, Galasys concentrated on simply licensing is software and services, gaining additional revenues from maintenance and upgrades and purchase of additional modules as its customers' operations grow.

But since 2010, Galasys added new engagement models to just ‘solutioning’.

It began electronic ticketing and IT outsourcing, or in the case of the second-tier operators, taking over the certain aspects of their operations such as ticketing.

While this has meant significant investment upfront, the payback is a revenue share based on the number of tickets sold – which is particularly significant point for the investment case, given the projected growth in the sector.

As parks expand and visitor numbers grow, so do Galasys’s top and bottom lines.

“This is a very scalable and profitable model, but there is investment upfront,” says chief executive and co-founder Seah Kok Wah. “This is the business model that we will continue to grow more aggressively after the listing.”

In addition, the firm’s development of a cloud-based ticketing sales service will allow theme parks to sell their park tickets via online travel agents – the Chinese equivalents of Expedia and lastminute.com.

This platform should be up and running next month and Galasys will receive a revenue share of whatever is sold online. It should be emphasised that the cloud-based platform is low cost, so much of the revenue generated will drop to the bottom line.

Beyond that, Galasys also has eyes on other markets into which it could potentially expand, although the metrics are not likely to be in the same bracket as China.

Chinese parks, like those in America, dwarf anything seen here in the UK.

The Chime Long Guangzhou Tourist Resort, for instance, was host to 14mln visitors in 2013. To put that into context, Alton Towers, the Staffordshire attraction, pulled just 3mln ride-goers through its turnstiles.

Meanwhile, Blackpool, the quintessentially working-class British resort, with its donkey rides, trams and the tower, received 4.5mln visitors last year.

It is anticipated that Galasys will initially look to opportunities in Indonesia, Vietnam and Japan, before moving into Europe and North America in later years.

New Contracts Announced

RNS


RNS Number : 6875K

Galasys PLC

27 June 2014






27 June 2014



Galasys PLC

("Galasys" or "The Group")



Second Contract with Dalian Wanda Group and OCT system upgrade in China





Galasys PLC, a leading provider of ticketing systems and solutions to the fast growing theme park industry in Asia, is pleased to announce that further to signing its first contract with Dalian Wanda Group ("Dalian Wanda") announced on 22 May 2014, the Group has been awarded a second contract to provide its ticketing and membership management modules and services to Dalian Wanda's Kids Parks ("Wanda Kids Parks") across China (the "Wanda Contract"). Also, the Group has just secured another significant system upgrade contract with OCT, one of its long-standing customer at the Happy Valley Chengdu site (the "OCT Upgrade Contract").



Wanda Kids Parks



The Wanda Kids Parks are part of Wanda Children Entertainment Co. Ltd, a wholly owned subsidiary of Dalian Wanda, and focuses on developing the creative-parenting culture for children aged between 1-12 years. Starting with 9 department stores across China in major cities such as Beijing, Guangzhou, Kunming and Fujian, under Dalian Wanda's plan, each Wanda Kids Park is divided into two zones and will incorporate various backgrounds such as career experience, theme photography, birthday party and animation studios. Dalian Wanda projects that by year 2020, its total investment in this project will reach 5 billion Yuan (c. £480 million), with an estimated presence at 200 stores nationwide.



Terms of the Wanda Contract



Galasys will design and customise the entire ticketing management systems, as well as the membership management module to support the Wanda Kids Entertainment Business Management Platformand thereafter provide maintenance and support services. Implementation is scheduled for October 2014 with the total value of the project, including software services, totalling 1.9 million Yuan (c. £180,000); this includes 1 year for software support and licensing. Pursuant to the terms of the Wanda Contract, Galasys should receive 95% of its fees once the systems have been operational for five months, with the balance paid after one year of operations. Galasys will be the sole supplier and operator of the systems for all the Wanda Kids Parks.



OCT Happy Valley Chengdu ("OCT Chengdu")



Opened in 2009, OCT Chengdu in Sichuan Province is the third installation of the Happy Valley theme-park chain. With an area of 470,000 square meters, OCT Chengdu has more than 130 facilities offering different experiences, including 43 entertainment sites, 58 human ecology landscapes, 10 performing arts theatres and 20 theme games.



Terms of the OCT System Upgrade Contract



After successful implementation of the ticketing systems in 2008, this upgrade relates to multi-park ticketing, agency management, ticket inventory management, financial analysis, group reporting and point of sales for OCT Chengdu and the project value is 1,240,000 Yuan (c. £118,000 ).



Commenting on the announcement, Mr. Seah, Chief Executive of Galasys, said:



"We are pleased to announce more project wins since our AIM IPO including another significant project from the Dalian Wanda Group. This represents another important milestone in our relationship with Dalian Wanda and bears testament to Dalian Wanda's confidence in our technology and services. As Dalian Wanda continues with their expansion plans, we are excited with the opportunities available to Galasys, to deploy our ticketing management system across many main cities in China. We are also delighted to announce that we have secured a significant upgrade contract from the OCT Group at its Chengdu Happy Valley theme-park. We are proud to supply ticketing solutions to sites across the OCT Group and this latest contract further highlights continued confidence from our existing customers."

Green Laser Technology renamed as Galasys GLT

RNS


RNS Number : 9056L

Galasys PLC

10 July 2014






10 July 2014



Galasys PLC

("Galasys" or "The Group")



Green Laser Technology Sdn Bhd now renamed as Galasys GLT Sdn Bhd ("GLT")



Galasys PLC, a leading provider of ticketing systems and solutions to the fast growing theme park industry in Asia, is pleased to announce its wholly-owned subsidiary, Green Laser Technology Sdn Bhd is now renamed as Galasys GLT Sdn Bhd effective 8 July 2014.



GLT's principal activity is primarily designing and selling self-service kiosks and ticketing vending machines. The acquisition was undertaken in 2013 as Galasys believes it will provide the Group with greater control over the design and supply chain of self-service kiosks and ticket vending machines and gives the Group the opportunity to increase the Group's revenue from hardware sales and system integration services in China and South East Asia. GLT also serves a growing group of clients in Malaysia.



Commenting on the announcement, Mr. Seah, Chief Executive of Galasys, said:



"Having completed the acquisition in 2013, the name change to Galasys GLT Sdn Bhd is part of our strategy of building the Galasys brand globally and integrating GLT further into the Group. GLT has since the acquisition continued to secure contracts from existing as well as new clients and we look forward to cross-selling its products to other clients within the Group

Notice of Interim Results and Trading Update

RNS


RNS Number : 9536M

Galasys PLC

22 July 2014






22 July, 2014

Galasys PLC

("Galasys" or the "Group")



Notice of Interim Results and Trading Update





Galasys PLC (AIM:GLS), a leading provider of ticketing systems and solutions to the fast growing theme park industry in Asia, today announces an update on trading ahead of the half year results for the six months ended 30 June 2014 (the "period"), which Galasys will publish in early September 2014.



Trading Update



The Board is pleased to report that Galasys has performed well in the first half of the year and as a result, anticipates delivering results ahead of market expectations.



Highlights

• Successful IPO to AIM in May 2014, raising gross proceeds of £3.1 million at a placing price of 22.5p

• Secured new contracts to supply solutions and services to an additional 19 new amusement parks including a major Ticketing IT Outsourcing (TiTo) contract, Galasys fourth TiTo contract, with Wenzhou Water Park

• Awarded first ever Movie theme park ticketing contracts by the Dalian Wanda Group

• Awarded a second contract to deploy ticketing and membership management modules and services to Dalian Wanda's indoor Kids' Parks across China

• The market continues to be strong in China with new upgrade contracts secured from existing customers such as OCT

• Galasys GLT (formerly Green Laser Technology) successfully integrated into the Group and performing ahead of management expectations



Commenting on the announcement, Mr. Seah, Chief Executive, said:



"The Board is delighted with the Group's performance in the first six months of 2014. The performance is particularly impressive given the management time taken in completing our successful IPO. Since the IPO we have continued to win significant new contracts with some of China's most important theme park operators and look forward to delivering a good performance for the full year."

Half Yearly Report

RNS


RNS Number : 4555Q

Galasys PLC

01 September 2014




1 September, 2014

Galasys PLC

("Galasys" or the "Group")



Interim Results for the six months to 30 June 2014



Galasys PLC (AIM:GLS), a leading provider of ticketing systems and solutions to the fast growing theme park industry in Asia, is pleased to announce its maiden interim results for the six months ended 30 June 2014 (the "Period").



Financial Highlights

• Revenue for H1 2014 ahead 34% at RM16.44m (H1 2013: RM12.27m^)

• Gross Profit ahead 34% at RM7.26m (H1 2013: RM5.41m^)

• Profit Before Tax ahead 35% at RM5.02m (H1 2013: RM3.72m^)

• Profit After Tax ahead 38% at RM4.31m (H1 2013: RM3.13m^)

• EPS RM0.0825 or 8.25sen (H1 2013: RM0.0759 or 7.59sen)

• Cash RM13.05m* (H1 2013: RM17k)

• Repeat and recurring revenue increased to 66% of sales (H1 2013: 60%)



^The proforma figure for the six months to 30 June 2013 was prepared by assuming Galasys GLT (formerly known as Green Laser Technology) was part of Galasys Group since 1 January 2013

* includes net proceeds from IPO of RM10.50m (£2.20m)



Operational Highlights

• Successful AIM IPO in May 2014, raising gross proceeds of £3.10 million at a placing price of 22.5p

• Secured new contracts with 25 new amusement parks after IPO, including a major Ticketing IT Outsourcing (TiTo) contract with Wenzhou Water Park

• Awarded first ever Movie Theme Park ticketing contracts by the Dalian Wanda Group

• Awarded a second contract for Dalian Wanda's indoor Kids' Parks across China

• Awarded a significant system upgrade contract by OCT, our existing theme park customer

• Signed up additional 15 new water parks

• Galasys GLT (formerly Green Laser Technology) successfully integrated into the Group and performing ahead of management expectations

• Partner channel expanded to include Hitachi-Sunway Information Systems, Skafos International (Hong Kong), DCORP R-Keeper (Vietnam) and Cuscapi Berhad (Malaysia)

• Appointment of experienced sales director for ASEAN market and an experienced COO previously from the Sunway Group





Commenting on the announcement, Mr. Teh, Chairman of the Group, said:

"The Board is delighted with the Group's performance in the first six months of 2014. The performance is particularly impressive given the management time committed in completing our successful IPO. Since the IPO, we have continued to win significant new contracts with some of China and South East Asia's most important theme park operators. We are grateful for the support received from our shareholders, customers and business partners and staff, and look forward to delivering a good performance for the full year."





Mr. Seah, Chief Executive, added:

"Our sales pipeline is increasing and we expect further momentum as the Group continues to expand its market coverage in China and other Asian countries. We expect to maintain growth levels, and to secure more projects as we increase penetration into new markets and continue development and launch of new cloud-based products and services going forward. On the back of the strong growth prospects in the Asian theme park industry, Galasys is well-poised to deliver a good performance for its shareholders in the coming months."

UPDATE - Galasys expects further momentum after strong first half performance

By Giles Gwinnett

September 01 2014, 1:25pm
Mr Seah, chief executive, told investors: 'Our sales pipeline is increasing and we expect further momentum as the group continues to expand its market coverage in China and other Asian countri
Mr Seah, chief executive, told investors: "Our sales pipeline is increasing and we expect further momentum as the group continues to expand its market coverage in China and other Asian countri


---adds share price and management comments---

Theme park ticketing specialist Galasys (LON:GLS) posted a 35% increase in pre-tax profit in its maiden half year results and expects to expand further its market coverage in China and other Asian countries.

The company provides ticket solutions to the rapidly growing Asian theme park market and now works with 85 such parks.

Pre-tax profit came in at 5.02mln Malaysian Ringgit (RM) (£957,816) compared to RM3.72mln (£709,776) in the six months to June 30, 2013.

The comparatives are based on assuming Galasys - formerly Green Laser Technology - was part of the Galasys Group since the beginning of last year.

Revenue for the first half was 34% higher at RM16.44mln (£3.136mln). The firm has made rapid progress since successfully floating on AIM in May, raising £3.10 million at a placing price of 22.5p.

The firm revealed it had secured new contracts with 25 new amusement parks since floating, including a major ticketing IT outsourcing (TiTo) contract with Wenzhou Water Park, and was awarded its first ever movie theme park ticketing contracts by the Dalian Wanda Group.

Sean Seah, chief executive, told investors: "Our sales pipeline is increasing and we expect further momentum as the group continues to expand its market coverage in China and other Asian countries.

"We expect to maintain growth levels, and to secure more projects as we increase penetration into new markets and continue development and launch of new cloud-based products and services going forward."

Galasys said plans to introduce different revenue share models were bearing fruit as it has successfully secured more clients at much higher margins in addition to continuing to serving existing clients via upgrades and new product modules.

"Several new key products and services are in the pipeline and the second half of the year will see us completing their development, and then launching them in the market," it said.

One of the group's key aims is to align its revenue and profits more directly to the number of visitors, which come to its theme park customers, namely via ticket sales.

One way of doing this, explained Seah to Proactive Investors, will be via the group's proprietary new Cloud-based platform - CLOTA, which stands for Cloud Online Travel Agencies, which is planned to be rolled out in the fourth quarter this year.

Seah notes the firm has already signed up the top five online travel agencies in China - Qunar, Ctrip, LY.com, 17U.com and Lvmama and the idea is that all Galasys theme park ticketing system will be connected to the online agencies.

"With this, we will be able to capture revenue share for every ticket which sells to the CLOTA platform," says Seah, who highlights the tremendous profitability potential of this move.

Today, he said 85 parks were printing 100mln tickets using the group's system.

"The plan is to grow this to 200 sites over the next two to five years," he said, highlighting a potential 200mln tickets being sold. And with a revenue share for Galasys on each ticket sold, the profit potential is obvious.

Galasys shares rose on Monday 5.19% to stand at 20.25p each.

Galasys is excellent buying opportunity, says Optiva

By Giles Gwinnett

September 17 2014, 2:25pm
Analyst Ravi Davdra notes that the firm has made excellent progress in winning new contracts and also highlights that China has removed the ban on new theme park licences
Analyst Ravi Davdra notes that the firm has made excellent progress in winning new contracts and also highlights that China has removed the ban on new theme park licences


Galasys (LON:GLS) is a potential ticket for investors to tap into the booming leisure industry in Asia, says house broker Optiva, which rates the shares a 'buy' and targets 36p (current price: 23.25p).

The firm provides ticket solutions to theme parks and the broker reckons that amusement park visits are set to increase from 60mln in 2010 to more than 200mln by 2020.

On one forecast, China will outpace the US in this market by 2020.

Analyst Ravi Davdra notes that the firm has made excellent progress in winning new contracts and also highlights that China has removed the ban on new theme park licences, which has increased investment in new projects. 12 new projects and 1 new water park opened in 2012/13.

"The company has developed strong relationships with leading operators of theme parks in China and Malaysia by implementing cost-effective technology platforms.

"Consequently this will provide them with further profitable opportunities as the major theme park operators set their eyes on expansion," added Davdra.

The broker forecasts the firm will post profit after tax of £1.57mln in 2014 compared to £1.37mln in 2013, implying EPS of 2.36p, compared to an EPS of 2.01p in 2013.

New contracts announced
RNS
RNS Number : 4671T
Galasys PLC
06 October 2014



6 October 2014



Galasys PLC

("Galasys" or "The Group")



Galasys secures Enchanted Kingdom in the Philippines and Window of the World in 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 £217,000, at current exchange rates.



These contracts have been awarded by the Enchanted Kingdom in Laguna (Philippines), the country's first and only world-class theme park and from the OCT group for its Window of the World theme park in Shenzhen (China), one of the oldest iconic theme parks in China.



SOUTH EAST ASIA

Enchanted Kingdom in the Philippines ("Enchanted Kingdom")



Enchanted Kingdom was opened on 19th October, 2005. Despite the growing competition from other amusement parks and attractions, it has continued to grow and exceeded the 2-million per annum visitor mark in 2012. According to its management, there are plans to double the current park size over the next three to five years, which include the construction of hotels, to transform Enchanted Kingdom into an integrated theme park.



Enchanted Kingdom has 16 rides and boasts 7 meticulously themed zones. In 2011, Enchanted Kingdom formally launched The Enchanting Events Place, Laguna's biggest venue featuring a spectacular street level event space with a total usable floor area of 2,000 square meters. The chairman and president of Enchanted Kingdom, Mr. Mario O. Mamon is the 2014 International Association of Amusement Parks and Attractions (IAAPA) Chairman of the Board. He is the first Asian to head this international association.



Terms of the Contract with Enchanted Kingdom



This contract is the first for the Group in the Philippines. Galasys will provide Galasys GSET Ticketing and GPOS point-of-sales front-end to Enchanted Kingdom. The total value of the project is USD180,000 (c. £111,000) and from the 2nd year onwards, an annual maintenance contract valued at USD40,000 (c. £24,666)





CHINA

Window of the World in Shenzhen, China ("Window of the World")



The Window of the World is a large-scale cultural tourist attraction site located in Overseas Chinese Town, Nanshan District of Shenzhen, China which attracted more than 3.2 million visitors in 2013. Covering an area of 480,000 square meters, it was jointly established in 1994 by the Hong Kong China Traveling Service Group and the OCT group with an investment of RMB 6.5 billion (c. £646 million).



In total, it has about 130 replicas of some of the most famous tourist attractions in the world. Amongst the world-renowned attractions are the 108 metre tall Eiffel Tower and the Pyramids as well as Taj Mahal, all in proximity to each other forming part of the appeal of this place. Other famous icons include the Roman Colosseum, Sydney's Opera House, the Niagara Falls and the Grand Canyon.



Terms of the Contract with Window of the World



There are 2 contracts whereby Galasys will furnish Galasys GSET Ticketing system and Online Ticketing module. Each of the contracts has a tenure of 5 years, with a total combined amount of RMB827,450 (c. £82,349).





Commenting on the announcement, Mr. Seah, Chief Executive of Galasys, said:



"We are delighted in securing the contract with Enchanted Kingdom as it represents our first foray into the Philippines market and a significant win for Galasys, it being the only world class theme park in the country. We have demonstrated technical merit and won the confidence from the Enchanted Kingdom's owners and management team to replace their existing ticketing system supplied by an international ticketing system competitor. The market for theme parks in the Philippines has strong growth prospects and this contract will provide an excellent platform to secure further contracts in the future. On the back of this, we expect further momentum as Galasys continues to expand its market coverage into other South East Asia countries.



The OCT group is one of the Group's key loyal clients and their confidence in our technology and services is reflected by our success in winning this contract from another international ticketing system competitor in the global market.



These two contract wins give the Board confidence in Galasys' plans for growth and in our ability to make further market-share gains in the amusement park ticketing space."

Galasys's contract wins confirm strength of its offering

By John Harrington

October 07 2014, 11:44am
Galasys's contract wins confirm strength of its offering

Monday’s contract wins, which saw ticketing systems provider Galasys (LON:GLS) supplant incumbent operators, confirms the quality of the group’s product offering, Arden Partners argues.

The AIM-listed firm’s nominated adviser (Nomad) said Galasys is focusing on theme and water parks in China and South East Asia, where the growth opportunities are likely to be above those available in western economies – a view underlined by yesterday’s announcement of an emergency bail-out for Disneyland Paris.

“Asia is the fastest growing region for theme park sites and visitor numbers as the region’s economies grow, particularly in terms of GDP per capita and increased leisure spending,” the broker noted.

Galasys has a strong position in this market and also has big plans for its online offering, where its platform will integrate individual theme park ticketing systems with online travel agents, and will allow visitors to book their own itinerary.

These opportunities represent a revenue share opportunity for Galasys, allowing it to connect directly with park visitors through its services and benefit directly from the forecast growth in visitor numbers, the broker believes.

With a market capitalisation of less than £16mln, there is a chance the company will get overlooked, especially as short-term growth is likely to be constrained by the recent acquisition of Green Laser Technology (now renamed Galasys GLT), though the latter is performing ahead of management expectations.

“Growth looks promising (against forecasts) and is being delivered, the underlying markets are growing quickly, Galasys has a high market share in its core business and there is potential for further positive news flow over the next 12 months as the group continues to expand,” the broker said, as it reiterated its 40p price target, well above the current price of 23.1p.

New Contract Wins

RNS


RNS Number : 1433X

Galasys PLC

17 November 2014






17 November2014



Galasys PLC

("Galasys" or "The Group")



Galasys secures GingKo Lake in China and other contract wins



Galasys PLC, a leading provider of ticketing systems and solutions to the fast growing theme park industry in Asia, is pleased to announce three new contract wins with a total value of approximately £340,000, at current exchange rates.



These contracts have been awarded by GingKo Lake in NanJing (China), the largest ecological playground in NanJing, Langkawi Museum Sdn Bhd in Langkawi (Malaysia), the world's newest 3D Interactive museum and PLAYTIME Dream Paradise in HangZhou (China), the first of Korea's popular indoor playground in China.



Gingko Lake Ecological Playground in NanJing, China ("Gingko Lake")



Gingko Lake is a newly constructed ecological playground located in NanJing in the province of Jiangsu The park has a capacity to serve 500,000 visitors per annum. Together with the existing golf course, the entire space occupies 13km2 of landscape. The playground has some of the latest facilities imported from Europe and Japan in distinct parks such as a 360° gyroscopic ride and Crystal Adventure Cave. Leveraging on its unique landscape and scenic features, Gingko Lake plans to introduce a greater variety of theme parks in the future, including a zoo, underwater world and scenic park.



Terms of the Contract with Gingko Lake

Galasys will provide its core ticketing system for a period of 1 year. The total contract value is RMB2,169,220 (c. £222,300), 20% payable upon signing of the contract, with the balance after implementation of the ticketing system and upon the commencement of ticket sales. Galasys will provide complementary maintenance services for 1 year.



Other contract wins



PLAYTIME Dream Paradise in HangZhou, China ("PLAYTIME Dream Paradise"), is a Korean playground brand that has taken the Asia market by storm, opening close to 500 indoor children's experience centres in Korea. PLAYTIME debuted in 1993 and in 20 years, has become Korea's most popular indoor playground chain with a market share of more than 90%. The first location of this brand in China was developed between China-based Zhongnan Animation and Korea's PLAYTIME Co. Covering an area close to 2,500 square meters, PLAYTIME Dream Paradise is an indoor playground located at ZhongNan Mall, in Hangzhou which first came into service at the end of April 2014.



Galasys will provide its core ticketing system for a period of 1 year. Total contract value is RMB650,000 (c. £65,853), 40% payable upon signing of the contract, with the balance after implementation of system and upon the commencement of ticket sales. Galasys will also provide complementary maintenance services for 1 year.



Believe Langkawi 3D museum in Langkawi, Malaysia ("Believe Langkawi") houses the world's newest interactive 3D art collection. Located in the island of Langkawi, north of Malaysia, the museum brings a new and different experience in 3D art. Galasys will provide its core ticketing system and 2D barcode ticket module from 1 December 2014. Total contract value is RM180,000 (c. £34,016) which includes the minimum revenue derived from ticket sales under the TiTo model under which Galasys will take a revenue share in ticket sales instead of its normal project-based fees for systems and services. Galasys will provide complementary maintenance services for up to 3 years.



Commenting on the announcement, Mr. Seah, Chief Executive of Galasys, said:



"We are very pleased to have secured the contract with Langkawi Museum as this represents Galasys' first TiTo project in the SEA region and further underlines our commitment to the TiTo model being our significant engagement model in years to come. The contract also represents Galasys' intention to expand its ticketing solution business beyond the traditional theme park market.



The contracts with PLAYTIME Dream Paradise and Gingko Lake represent the Group's continuing inroad into the mid-tier theme parks in China.



These three contract wins give the Board confidence in Galasys' plans for growth and in our ability to make further market-share gains in the amusement park ticketing space."

Launch of Cloud Online Travel Agent Platform

RNS


RNS Number : 6509Y

Galasys PLC

03 December 2014






3 December 2014



Galasys PLC

("Galasys" or "The Group")



Galasys Launches Cloud Online Travel Agent ("CLOTA") Platform



Galasys PLC, a leading provider of ticketing systems and solutions to the fast growing theme park industry in Asia, is pleased to announce the launch of CLOTA, its cloud based online service platform after nearly a year of intensive development. CLOTA is a key component of Galasys' strategy to develop a fully integrated B2B online sales and distribution network connecting online travel agencies ("OTAs") with theme park operators and owners in Asia.



Following a successful soft launch, CLOTA already has 5 OTAs and 8 theme parks integrated and ready to transact, and Galasys looks forward to adding more partners to CLOTA in due course.



CLOTA



CLOTA is a middleware platform that allows theme park operators and owners to open up new sales channels, in addition to the traditional offline channels, by connecting their ticketing systems with the OTAs enabling the sale of tickets online, via the OTAs in real time, direct to the end customer.



Upon the completion of an online transaction via CLOTA, the customer receives an electronic QR™-coded ticket via their mobile phone and via email. With the QR™-code, the customer is able to gain entry to the theme park either by validating the QR™-code at the park admission gates or at self-service ticketing vending kiosks.



CLOTA is a development of one of Galasys' key software modules, the Intelligent Cloud that was developed in 2011. The launch of this software module was a great success for a number of the Group's theme park clients as it generated substantial new online ticket sales for these clients and created a new sales channel for them through the OTAs. The successful IPO in May has provided the funding necessary to accelerate the CLOTA development programme and has enabled the Group to launch it as planned.



As outlined at the time of the IPO, CLOTA forms a key part of the Group's growth strategy bringing both new sales channels and a new revenue model based on a share of revenue per ticket sold. With over 100 million tickets being produced annually by Galasys ticketing systems in parks across Asia the launch of CLOTA will provide the group with the opportunity to capture a share of the revenues generated by those ticket sales.



Significantly, CLOTA is a universal platform that can be employed by all park operators and owners regardless of the ticketing system installed, be it a Galasys ticketing system or a system provided by another supplier. Since the soft launch several months ago, CLOTA has been well received by Galasys' theme park clients.



Collaboration with OTAs & Theme Parks



To date Galasys has signed up 5 OTAs, namely Beijing Qunar Software Technology (Qunar.com), Ctrip.com International Ltd，Shanghai Lvmama International Travel Agency Co. Ltd, Sichuan Brigade Butler Network Technology (Lvxiaobao) and Chengdu Chenyu Culture Communication Co., Ltd. These OTAs account for a majority of the online travel traffic in China with Ctrip dominating the China online travel market with 54.2% market share.



8 theme parks have been signed up so far and are now fully integrated into CLOTA including Wugang Xianglong Valley Water Park, Gui Lin Yugui Park Universal theme park, Seven Colour Sand River Water Park, Wuhan Mulan Park and Shanxi Water Park. The Directors estimate that the aggregate visitorship at these theme parks for 2014 will be between 3.5 million to 4 million.





Commenting on the announcement, Mr. Seah, Chief Executive of Galasys, said:



"This is a significant step by Galasys into the online sphere and is part of our planned transformation to correlate our revenue and growth more closely to the number of visitors to our installed sites. We will continue to grow our CLOTA platform by signing up more parks and OTA partners in the coming months. The tie up with Qunar and Ctrip, the two OTA giants in China, is a testament to Galasys' track record in China and an endorsement of our CLOTA platform.



With 98 installed sites and over 100 million tickets printing via our ticketing system annually, we are excited by the possibility of channeling the sale of some of these tickets through CLOTA."

Galasys Acquires I Logic Solutions Sdn Bhd

RNS


RNS Number : 2207B

Galasys PLC

05 January 2015




5 January 2015



Galasys PLC

("Galasys" or "The Group")



Galasys Acquires I Logic Solutions Sdn Bhd



Galasys PLC, a leading provider of ticketing systems and solutions to the fast growing theme park industry in Asia, is pleased to announce that it has acquired I Logic Solutions Sdn Bhd ("iLogic") whose main business activity is consultancy, system study & design, implementation and training of leisure and entertainment software solutions in Malaysia.



I Logic Solutions Sdn Bhd



iLogic is managed by a group of Information and Communication Technology ("ICT") solution experts who have extensive experience of implementing ICT solutions across South East Asia. iLogic's solutions include leisure and entertainment solutions, Point-of-Sales ("POS") solutions, Passenger Management System and other implementation and maintenance services and are all branded under i-CONCEPT.



iLogic's solutions are used by well-known and prominent sites including Sepang International Circuit which has hosted several Formula 1 race events in Malaysia and the National Zoo of Malaysia. iLogic has also developed an online travel agency platform that brings together theme parks and online travel agencies ("OTA") in Malaysia together with a business-to-business model whereby theme parks will sell their tickets through the platform to the OTAs.



Consideration and conditions of Acquisition



Pursuant to the agreement entered into between the Group's fully owned subsidiary Galasys Holdings Limited ("GHL") and the shareholders of iLogic, GHL will acquire the entire issued share capital of iLogic for a total consideration that is based on the aggregate of a multiple of 2 of its audited profit after tax for each of the financial years 2014, 2015 and 2016 with a maximum amount payable of MYR7,000,000 (c. GBP1,296,296) (the "Consideration"). For financial year 2014, the earn-out payment shall be fully in cash and of which an upfront cash payment of MYR400,000 (c. GBP74,074)) has been paid upon closing of the Acquisition. Subject to certain terms and conditions, the earn out payment for financial years 2015 and 2016 shall be paid 50% in cash and 50% in the form of new shares of Galasys. The shareholders of iLogic have also given a profit guarantee of MYR200,000 (c. GBP37,037) for financial year 2014.



Strategic Rationale for the Acquisition



Galasys believes that by utilizing its experience and position as a prominent provider of ticketing system solutions in Malaysia it will be able to exploit value from iLogic by:

· increasing market share in the Malaysian theme park sector

· integration of iLogic's Online Travel Agent portal in Malaysia with Galasys's own recently launched CLOTA in China to accelerate the expansion of Galasys's online business across South East Asia

· leveraging on further technology synergies between Galasys and iLogic.





Commenting on the announcement, Mr. Seah, Chief Executive of Galasys, said:



"This represents the first acquisition by Galasys since the IPO in May last year and we are excited as this will strengthen and consolidate our market position in Malaysia. The acquisition is also timely as it gives Galasys an opportunity to fasttrack CLOTA's launch in South East Asia. We are delighted to have closed this acquisition and look forward to the successful integration of iLogic into the Group and creating greater synergistic opportunities."

Trading Ahead of Expectations
RNS
RNS Number : 1760C
Galasys PLC
15 January 2015



15 January, 2015

Galasys PLC

("Galasys" or the "Group")



Pre-Close Update

Trading Ahead of Market Expectations and Maiden Dividend





Galasys PLC (AIM:GLS), a leading provider of ticketing systems and solutions to the fast growing amusement park industry in Asia, is pleased to provide the following trading update for the year ended 31 December 2014 in advance of the release of its annual results in April.



Trading and Dividend Update



The Board is delighted to report that Galasys expects to announce a set of results for the year to 31 December 2014 that will be ahead of market expectations.



As a result of the positive growth achieved both organically and through acquisition, the Board intends to bring forward its plans to implement a progressive dividend policy by declaring a maiden dividend for 2014 with the announcement of the full year results in April, whilst recognising the need for Galasys to continue investing in its expansion and product development plans throughout 2015 and beyond.



Commenting on the announcement, Mr. Seah, Chief Executive, said:



"Given the management time taken in completing our successful IPO in 2014, I am pleased that we have been able to complete a very successful 12 months with a strong financial and operating performance. We have continued to grow the business at a strong pace throughout 2014 and we now provide our solutions and services to 106 amusement parks across China and South East Asia, compared to 60 sites at the time of our admission to AIM in May 2014. Asia remains the fastest growing market for the global amusement park industry and Galasys is well positioned and will continue to grow in this region."



"At the time of the IPO, the Board committed the Group to pursuing a progressive dividend policy and because of the strength of our performance and profitability in 2014 I am delighted to report that we intend to implement that policy with a maiden dividend for 2014."

New Contract Wins
RNS
RNS Number : 3120E
Galasys PLC
09 February 2015



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 includes 3 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."

New Contract Wins
RNS
RNS Number : 4237G
Galasys PLC
05 March 2015



5 March 2015



Galasys PLC

("Galasys" or "The Group")



Galasys secures first customer for its Mobile Ticketing and Park Map & Navigation Apps



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 c. GBP256, 000.



These contracts have been awarded by Enchanted Kingdom in the Philippines, the country's first and only world-class theme park and by Farm In The City, a new village-themed petting zoo located in Malaysia.



THE PHILIPPINES

Enchanted Kingdom was opened in 2005, has 16 rides, boasts 7 themed zones and attracts over 2 million visitors per annum.



In 2014, Galasys secured the first contract to deploy its ticketing management system for Enchanted Kingdom to entirely replace the incumbent's ticketing system. Following the successful implementation, Galasys has now secured Enchanted Kingdom as the first customer for its newly developed and launched Mobile Ticketing and Park Map & Navigation Apps. The contract also includesGalasys Point-of-Sale (GPOS), GSET Online Ticketing Solutions (GSET-OTS) and additional equipment for access management,



MALAYSIA

Farm In The City ("FITC") is a unique concept that combines the elements of wildlife and nature set in an environment of a conservation park. FITC houses over 100 species of exotic animals and 40 types of tropical fruits.



This contract has been awarded to I Logic Solutions Sdn Bhd, the newly acquired subsidiary of Galasys and includes both its front-end system and back-end ticketing modules.



Commenting on the announcement, Mr. Seah, Chief Executive of Galasys, said:



"We are delighted that our mobile modules and apps will soon be deployed in a premier theme park in Asia. This is further endorsement and testament of the vision of our R&D team in developing products that seek to enhance operational efficiency of park operators and also the overall park experience for the visitors. We expect wider adoption and deployment of these modules and apps by other parks in due course.



I Logic Solutions has secured its first contract as part of the Galasys group and we look forward to working with the I Logic team to further expand our market share in Malaysia.



Securing new contracts from existing clients represents an endorsement and confidence in our solutions and services. In addition to our ongoing success in China, we believe that we have demonstrated the quality and technical merit that continues to attract repeat business from clients in the wider South East Asia region as well."





Mr. Mario O. Mamon, Chairman and President of Enchanted Kingdom and immediate past Chairman of International Association of Amusement Parks & Attractions (IAAPA), said



"With the expansion of Enchanted Kingdom and the coming celebration of the park 20th anniversary we are continuing to invest not only in new rides and experience for the park visitors but we are also investing into IT solutions to provide better experience and value to our park visitors. Since the award of the ticketing management systems to Galasys, we are very pleased and collaborated well with Galasys team. Our new ticketing management systems went live according to schedule. Therefore, we are awarding new contracts to Galasys for continuous roll out of their solutions to Enchanted Kingdom and coming expansion of the park."

Final Results
RNS
RNS Number : 9659J
Galasys PLC
13 April 2015



13 April, 2015

Galasys PLC

("Galasys" or the "Group" or the "Company")



Preliminary unaudited results for the year ended 31 December 2014



Galasys PLC (AIM:GLS), a market leading provider of integrated amusement park solutions and services to the fast growing amusement parks industry in Asia,is pleased to announce its full year unaudited results for the year ended 31 December 2014.



Financial Highlights



• Revenue for 2014 up 45% at RM38.62m (2013: RM26.67m^)

• Gross Profit up 83% at RM19.52m (2013: RM10.64m^)

• EBITDA up 48% at RM12.58m (2013: RM8.5m^)

• Profit Before Tax up 35% at RM11.34m (2013: RM8.38m^)

• Profit After Tax up 30% at RM9.40m (2013: RM7.21m^)

• Cash RM12.22m* (2013: RM2.16m^)

• EPS RM0.16, or c. 2.91 pence

• Repeat and recurring revenue increased to 66% of sales (2013: 60%)

• Recommended final dividend of 1.084 sen, c. 0.2 pence per share



^The comparative figures for the 12 months to 31 December 2013 (refer to note 13) included above were on the basis that Galasys GLT (formally known as Green Laser Technology) was part of Galasys Group from 1 January 2013

* includes net proceeds from IPO of RM10.50m (£2.20m)



Operational Highlights

• Successful AIM IPO in May 2014, raising gross proceeds of £3.1 million at a placing price of 22.5p (net proceeds of RM10.50m / £2.20m)

• 46 new installed sites since IPO roadshow in April 2014

• Secured various new clients including Dalian Wanda Group in China and Enchanted Kingdom in the Philippines which are significant new wins

• Extended our sales network and channels into the Philippines, Indonesia, Vietnam and the UK

• Completed R&D for a number of new modules including eWallet on RFID, Mobile Ticketing, Park Map & Navigation and Smart-Q Apps and Ticketing Redemption & Vending Kiosk

• Successfully launched our Cloud Online Travel Agency ("CLOTA") platform for theme park ticketing

• Galasys GLT (formerly Green Laser Technology) successfully integrated into the Group and performing ahead of management expectations

• Successful acquisition of I Logic Solutions Sdn Bhd ("iLogic"), a leisure and entertainment solutions provider in Malaysia

• Total staff strength increased by more than 80% to over 140 as of 31 December 2014





Commenting on the announcement, Mr. Teh, Chairman of the Group, said:



"The Board is delighted with the Group's robust operational and financial performance in our first full year as an AIM listed company. We have managed to build strongly on the interim performance announced in September and now have more than 100 installed sites, nearly double what we had when we started our momentous AIM IPO journey in May 2014. With such momentum and confidence, the board has committed to a maiden dividend and a progressive dividend policy.



We look forward to continuing our growth story in the coming years as we build our team, expand our market reach, launch more innovative products and services and bring in new partners to scale greater heights."





Mr. Seah, Chief Executive, added:



"2014 has been a year of tremendous progress for Galasys. We have successfully integrated the acquisition of Galasys GLT; launched various new products and services, secured significant new customers and retained all our existing clients and sites; entered into new territories and deepened ties with our existing customers and partners. We are well positioned to continue to drive both our geographical expansion and new product and services roll-out in 2015 and beyond.



We are grateful for the support received from our shareholders, customers, business partners and staff, and look forward to continuing to work with all of you."

Galasys gets major backer as Chinese software giant takes 20% stake

By Philip Whiterow

April 13 2015, 10:12am
Notable new customers include the Chinese leisure group Dalian Wanda and Enchanted Kingdom in the Philippines.
Notable new customers include the Chinese leisure group Dalian Wanda and Enchanted Kingdom in the Philippines.


One of China’s leading software groups has taken a substantial stake in Asia theme park ticketing specialist Galasys (LON:GLS).

Beijing Shiji, which has a market value in Shenzen of £3bn, has bought 20% through a combination of a placing at 30p a share and the acquisition of 7% from existing holder Netrove, a tech fund.

The Chinese group paid a 33% premium to the current market price for its shares through the subscription, which will raise just under £3.3mln for Galasys.

Shiji has a substantial presence in China and specialises in hotel booking and management software.

As well as the equity stake, which will enable Beijing Shiji to have one board director, the two companies have signed a collaboration agreement that will see Galasys’s ticketing software integrated with Shiji’s own hotel systems.

Once completed, visitors will be able to book theme park tickets and use Galasys’s other functions from hotels or shops and other Shiji-powered food and beverage outlets.

Shiji will also be able to tap into Galaysys’s Cloud-based CLOTA system that allows travel agents to book theme park tickets online.

Galasys will get share revenue and receive referrals income, similar to its arrangements with theme parks.

Shiji currently has 6,000 hotel customers and hundreds of thousands of F&B and retail outlets.

It recently attracted the interest of giant online shopping group Alibaba, which took a 15% stake in December for £305mln.

Galasys's shares rose 15% on the announcement to 26p with sentiment also boosted by a maiden dividend after annual sales and profits both jumped sharply.

Shareholders in the Malaysian group will get 0.2p as revenues over the past 12 months jumped by 45% to myr38.6mln (£7.1mln) and profits rose 35% to myr11.3mln (£2.1mln).

More than 100 leisure sites now use the group’s software - double the number when Galasys listed on AIM almost a year ago.

Notable new customers include the Chinese leisure group Dalian Wanda and Enchanted Kingdom in the Philippines.

Galasys’s performance was aided by a number of new products such as eWallet, Mobile Ticketing, and smartphone enhancements such as Park Map & Navigation.

Sean Seah, chief executive, described it as year of “tremendous progress”.

"We have successfully integrated the acquisition of Galasys GLT; launched various new products and services, secured significant new customers and retained all our existing clients and sites; entered into new territories and deepened ties with our existing customers and partners.

“We are well positioned to continue to drive both our geographical expansion and new product and services roll-out in 2015 and beyond."

galasys-excited-about-20-stakeholder-beijing-shiji-and-alibaba-synergies

BIG PICTURE - Galasys riding high in expanding theme park market

By Giles Gwinnett

May 04 2015, 11:00am
The ticketing specialist also revealed it would pay a maiden dividend of 0.2p a share - 8% above house broker WH Ireland's estimates and a year ahead of plan
The ticketing specialist also revealed it would pay a maiden dividend of 0.2p a share - 8% above house broker WH Ireland's estimates and a year ahead of plan


The first set of prelims last month from Asian amusement park software provider Galasys (LON:GLS) showed a firm riding high but also underlined there could be much more to come from this AIM stock.

The company, ten years old but floated in May last year, reported a revenue jump in 2014 of 45% to myr38.6mln (Malaysian Ringgit) (£7.1mln) while pre-tax profits rose 35% to myr11.3mln (£2.1mln).

The ticketing specialist also revealed it would pay a maiden dividend of 0.2p a share - 8% above house broker WH Ireland's estimates and a year ahead of plan.

Also headline-grabbing was Galasys' unveiling of a premium placing, where one of China's leading software groups - Beijing Shiji Information Technology - took a 20% stake in the expanding China and South East Asia focused group. This underlined that Galasys is a firm already very much on the corporate radar.

Shiji paid a 33% premium and the investment now makes it the second largest shareholder in the group. Interestingly, Shiji itself caught the imagination of e-commerce giant Alibaba late last year, which took a 15% stake in Shiji for £305mln.

Shiji’s customers include more than 6,000 hotels, 100,000 restaurants and 200,000 retailers and WH Ireland reckons its dominant position in the leisure sector in Asia opens up new verticals for Galasys.

Visitors at such venues will be able to book theme park tickets and use Galasys’s other functions from hotels or shops and the impact of the cross selling could be felt by Galasys as early as the fourth quarter this year.

The broker reckons the premium paid by Shiji also underlined its belief that Galasys is 'grossly' undervalued by the market, and the 30p price should be viewed as the share's floor price.

The Shiji investment also of course opened up the possibility that it could at some stage acquire Galasys outright to gain access to a growing leisure space it currently does not occupy.

The Chinese theme park market has doubled in the last five years and experts forecast it will double again before 2020, by when it is expected to have overtaken the US market.

Capital spend on Chinese parks increased an eye watering 163% to US$24bn between 2011 and 2013, while attendance at such venues in the Asia-Pacific region increased 7.4% in 2013 - around three times faster than the US.

Galasys systems are used at 106 sites, including 13 of the top 20 parks by visitor numbers and 15 out of 20 water parks in China, and it continues to expand into new territories, such as Japan and Vietnam.

And last year saw it launch its cloud online ticketing platform (CLOTA), which links parks' ticketing systems to most of China's travel agencies, which has an obvious knock-on benefit for sales but also has shifted the model - to more revenue sharing for each ticket sold - something, which WH Ireland reckons is a "watershed" moment for the group.

As well as retaining all its existing clients last year it added some significant new ones such as the huge conglomerate Dalian Wanda in China and Enchanted Kingdom in the Philippines.

On its prospects for 2015, Galasys has said it will work on enhancing its core ticketing platform and associated modules including mobile apps and solutions.

"In particular, as part of the transformational growth plan, we will develop and launch more products and services that will be mobile and internet based so that our revenue base is broadened and to enable us to reach out more directly to the park visitors," it told investors.

WH Ireland is certainly upbeat on the group's future. It has raised the target price to 45p from 40p and forecasts pre-tax profit of myr 14mln in 2015 rising to myr 20.4mln in 2017.

It has said it likes the group's high recurring revenue, strong current trading and scope for useful acquisitions.

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Galasys lands new Chinese ticketing contracts

By Jamie Ashcroft

May 28 2015, 7:54am
'We are delighted that our association with Dalian Wanda has continued to strengthen as the Dalian Wanda Group business expands,” said chief executive Sean Seah.
"We are delighted that our association with Dalian Wanda has continued to strengthen as the Dalian Wanda Group business expands,” said chief executive Sean Seah.


Attraction ticketing specialist Galasys (LON:GLS) has secured additional Chinese contracts with the Dalian Wanda Group.

The contracts, worth £280,000, are for the Wanda Xishuangbanna Theme Park and Wanda Kids Park.

The theme park is part of Wanda’s Xishuangbanna International Resort which opens this year and is expected to attract 5mln visitors each year. Also comprising a sports park, 5-star hotels, a theatre, a commercial centre, a tourist town and a hospital the resorts spans around 6 square kilometres and cost around £1.6bn to develop.

Galasys is providing its ticketing system to the theme park, while the Wanda Kids Park deal will see the company design and customise ticketing management and membership management systems.

Wanda Kids Parks is a ‘creative parenting’ attraction, for children aged between one and 12, and are being incorporated into department stores across China.

"We are delighted that our association with Dalian Wanda has continued to strengthen as the Dalian Wanda Group business expands,” said chief executive Sean Seah.

“The additional contracts secured recently, bear testament to Dalian Wanda's confidence in the quality of our products and services. Our technical merit allows us to continue attracting new and repeat business from reputable clients in China and the South East Asia region.”