Chinese theme park operator profits surge as middle class ups leisure spend
Songcheng Performance Development, operator of several Chinese theme park and theatres, has seen a 70% rise in net profits and group sales rise by 80% to CNY1.69bn ($252m) as China's rising middle class spends more money on leisure. The company, whose share price has more than doubled in as many years, operates some of Asia's most popular tourist attractions, including the Hangzhou Songcheng Resort park, which attracts 7.3 million visitors a year.

HONG KONG -- Songcheng Performance Development, a Chinese theme park and theater operator, has gained a reputation for its performing arts events that feature the country's history and culture. With an expanding middle class beginning to spend more time and money on leisure, the company is attracting both visitors and investors.

The company was founded in 1994 and was listed in 2010 on the Shenzhen Stock Exchange's ChiNext board specializing in startup stocks. It was the first performing arts company to go public in mainland China.