Golden Horse Technology Entertainment

What Golden Horse Technology Entertainment does

Golden Horse Technology Entertainment (广东金马游乐股份有限公司) is a publicly listed Chinese manufacturer and operator of large-scale amusement equipment, headquartered in Zhongshan, Guangdong, with roots in the amusement industry dating to 1983 and a formal corporate founding in 2007. The company designs, manufactures, and installs high-end mechanical rides (roller coasters, Ferris wheels, tower rides, water rides) and high-tech virtual immersive entertainment products (flying theaters, dark rides, motion theaters, VR attractions) across 13 product categories and 300+ variants, holding 200+ authorized patents and operating a 30,000+ sqm manufacturing base staffed by 1,000+ employees including 200+ R&D personnel. Its self-developed electromagnetic launch roller coaster technology (commercialized from 2021) is positioned as having broken an international monopoly, and the company claims the second-largest number of operating roller coasters worldwide.

The company serves tier-1 global theme park operators (Universal Studios in Beijing and Singapore, OCT/Huaqiangfangte, Chimelong, Sunac) and exports equipment to more than 50 countries across Europe, Southeast Asia, the Middle East, and North America. Its GTM is sales-led B2B with heavy participation in international trade shows (IAAPA Asia, IAAPA USA, RAAPA Russia, Asian Amusement & Attractions Expo). Beyond equipment supply, Jinma has expanded into creative cultural tourism project planning, design, construction, and investment operations — exemplified by the joint operation of Zhongshan Happy Coast QiYu Time Park with OCT Group (opened December 2024) and the 'Beautiful China' motion theater co-developed with Huawei at Shenzhen Longgang International Arts Center (April 2026). The company is also extending downmarket into county-level and urban leisure markets in China's third and fourth-tier cities, broadening its addressable customer base beyond premium global theme parks.

Business model is dominated by one-time equipment sales and installation projects with bespoke pricing, complemented by an emerging recurring-revenue stream from co-operated cultural tourism assets. As the first A-share listed amusement equipment manufacturer in China (Shenzhen Stock Exchange GEM, stock code 300756, listed 2018), Jinma combines the financial visibility of a public company with a vertically integrated model spanning R&D, manufacturing, installation, and theme park operations — a structure that deepens customer lock-in but also concentrates exposure to Chinese tier-1 theme park capex cycles.

Name

Golden Horse Technology Entertainment

Legal name

广东金马游乐股份有限公司

Website

https://jinmabrand.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Golden Horse Technology Entertainment (广东金马游乐股份有限公司) is a Chinese publicly listed manufacturer of high-end amusement equipment and virtual immersive attractions, supplying roller coasters, flying theaters, and dark rides to global theme parks including Universal Studios, OCT, and Chimelong across 50+ countries.

Ownership category

akta.pro rank

Headquarters

HQ city

Zhangshan

HQ country

China

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Amusement Equipment Manufacturing: Design, development, manufacturing, and installation of large-scale mechanical amusement equipment and virtual immersion attractions for theme parks and tourism destinations
2. Cultural Tourism Operations: Planning, design, construction, and investment operation of creative cultural tourism projects

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Designs, develops, manufactures, and installs large-scale mechanical amusement equipment (roller coasters, Ferris wheels, tower rides, water rides, carousels, children's rides) and high-tech virtual immersive entertainment attractions (flying theaters, dark rides, VR experiences, motion theaters) for theme parks and tourism destinations across 50+ countries. Also provides creative cultural tourism project planning, design, construction, investment and operation services through subsidiaries such as Jinma Cultural Tourism Development and Shenzhen Origin Cultural Tourism.

Product overview

Golden Horse Technology Entertainment (广东金马游乐股份有限公司) is a modern large-scale cultural tourism group with 'amusement' as its core, integrating R&D, manufacturing, and installation of high-end large-scale amusement facilities, high-tech virtual immersive entertainment projects, as well as creative cultural tourism project planning, design, construction, investment and operation. The company's product portfolio includes two main categories: High-End Amusement Equipment (高端游乐装备) featuring 13 major categories with 300+ products including roller coasters, Ferris wheels, tower rides, carousels, water rides, and children's rides; and Virtual Immersive Entertainment Equipment (虚拟沉浸式游乐项目) including flying theaters, dark rides, VR series, motion theaters, and film power roller coasters. The company also provides cultural tourism development services. With over 300,000 square meters of manufacturing space, 1,000+ employees, and 200+ R&D personnel, the company serves markets across Europe, Southeast Asia, Middle East and 50+ countries worldwide, with products installed in top international theme parks including Universal Studios, Chimelong, OCT, and Fantawild.

Differentiator

Problem solved

Functional benefit

Brands

• 金马文旅: Cultural tourism development operations including theme parks and entertainment venues
• 金马数字文旅产业园

Products and services

• High-End Amusement Equipment (高端游乐装备) A flagship product line comprising high-end large-scale amusement rides spanning 13 major categories and 300+ product variants, including roller coasters, Ferris wheels, tower rides, carousels, water rides, aerial tour rides, classic rides, and children's rides. Several items are domestic and international firsts, with technology reaching domestic leading and international advanced levels and achieving import substitution. Targeted at theme park operators, tourism resorts, and cultural tourism destinations worldwide.
• Virtual Immersive Entertainment Equipment (虚拟沉浸式游乐项目) High-tech virtual immersive entertainment product line encompassing flying theaters, dark rides, film power roller coasters, VR experiences, motion theaters, film drop towers, film shuttle rides, and water dark rides. Designed for theme parks and cultural tourism destinations seeking differentiated, high-tech guest experiences such as the Huawei co-developed 'Beautiful China' motion theater at Shenzhen Longgang International Arts Center.
• Electromagnetic Ejection Reciprocating Motorcycle Roller Coaster A nationally innovative electromagnetic ejection reciprocating motorcycle roller coaster ride combining straddle-style seating with reciprocating launch for a progressive thrust riding experience, enhanced by soft cushion safety devices and a no-weld integrated CNC-machined frame structure. Marketed to theme parks as the world's first piston-propelled motorcycle roller coaster class of attraction.
• Cultural Tourism Development (金马文旅发展) Turnkey creative cultural tourism project services covering planning, design, construction, investment, and operation. Develops high-quality, high-traffic cultural tourism projects featuring high-tech attractions, indigenous Chinese cultural themes, and proprietary intellectual property, with the stated objective of upgrading regional cultural tourism industries and delivering immersive experiences to visitors.

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Seven partnerships are on record, tiered core and notable.

• OCT (华侨城)coreStrategic or Co-development Partner · 28 December 2024Joint investment and co-operation partner for Zhongshan Happy Coast QiYu Time Park, jointly operated by OCT and Jinma
• HuaweinotableTechnology or IntegrationCollaboration with Huawei to create D+ Digital Art Museum featuring motion theater 'Beautiful China' at Shenzhen Longgang International Art Center
• Universal StudioscoreStrategic or Co-development PartnerOnly recognized domestic amusement equipment supplier to provide equipment to Universal Studios theme parks in Beijing and Singapore
• Huaqiangfangte (华强方特)coreChannel Partner/ Reseller/ DistributorLong-term stable cooperation with major theme park operator
• Chimelong (长隆)coreChannel Partner/ Reseller/ DistributorLong-term stable cooperation with major theme park and resort operator
• Sunac (融创)coreChannel Partner/ Reseller/ DistributorLong-term stable cooperation with large tourism resort developer
• Zhongshan Port Game and Entertainment Cultural Industry CitynotableStrategic or Co-development PartnerStrategic cooperation within the industrial cluster zone in Zhongshan Port Town, positioning as a global game and entertainment industrial cluster

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Intamin Amusement Rides: Intamin is a Liechtenstein/Swiss-based manufacturer of high-thrill roller coasters, water rides, and observation wheels for the world's leading theme parks. Comparable as a premium ride OEM targeting flagship installations at top-tier parks, the same niche Jinma is pursuing via its electromagnetic launch technology.
• Bolliger & Mabillard: Bolliger & Mabillard (B&M) is a Swiss manufacturer specializing in high-quality steel roller coasters for major theme parks. Directly comparable in the premium steel coaster segment where Jinma has invested heavily via electromagnetic launch and piston-propelled technology.
• Mack Rides: Mack Rides is a long-established German manufacturer of amusement rides (roller coasters, water rides, dark rides) supplying theme parks worldwide. Directly comparable to Jinma as a full-line amusement equipment OEM competing for the same international theme park customers.
• Premier Rides: Premier Rides is a US-based designer and manufacturer of roller coasters and thrill rides, notably known for its LIM/LSM launch coaster technology. Directly comparable to Jinma as a launch-coaster specialist pursuing similar premium coaster installations at major parks.
• Zamperla: Zamperla is an Italian family-owned manufacturer of amusement rides (roller coasters, flat rides, themed attractions) serving global theme parks. Directly comparable as a multi-category amusement equipment OEM with strong international presence in the same customer set.
• Dynamic Attractions: Dynamic Attractions is a Canadian designer of dark rides, flying theaters, and immersive theme park attractions. Directly comparable to Jinma's virtual immersive entertainment equipment line (flying theaters, dark rides, motion theaters) targeting the same immersive attractions segment.
• Gerstlauer Amusement Rides: Gerstlauer is a German manufacturer of steel roller coasters and family rides owned by Mack Rides, supplying parks in Europe, Asia, and North America. Comparable as a roller coaster specialist competing for the same mid- to high-tier international park projects.
• Vekoma: Vekoma is a Dutch roller coaster and family ride manufacturer owned by Sansei Technologies, supplying major theme parks globally. Directly comparable to Jinma in the roller coaster and family ride segments, with overlapping customer base among top international theme park operators.

Broad incumbents

• Fantawild Group: Fantawild Group is a major Chinese theme park operator and self-developed equipment supplier, vertically integrated across IP, equipment, and park operations. Comparable to Jinma as both a Chinese amusement equipment manufacturer and a theme park operator, making it a domestic competitor in both of Jinma's core businesses.

Emerging players

• Simworx: Simworx is a UK-based specialist in immersive attractions (dark rides, 4D theaters, motion simulators) for theme parks, FECs, and visitor attractions. Comparable to Jinma's immersive product line as a focused emerging player in the same niche.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Golden Horse Technology Entertainment